I agree Colltech has the potential to be a 20 bagger++++++ if they can actually start selling some quantaity of collagen to the cosmetic market. Remember a 10 bagger only gets it back to its issue price.
HOWEVER, I have little confidence in the board and management. They have hailed numerous distribution agreements, recruited a sales and marketing team and now eleven months after the fanfare of the PCIA in Guangzhou, they have yet to sell a timble full of collagen.
Additionally, it should be of concern, looking at the revenue figures it appears the distributors are paying nothing for the distribution rights. Can we be sure the distributors are working in Colltech's best interest or are they still peddling competitors collagen.
My concern is that it is being driven into administration and will end up as a successful business in the hands of a few Singaporean individuals.
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I agree Colltech has the potential to be a 20 bagger++++++ if...
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