How's this for numbers lining up?
The lag between revenue ($2.5M) and cash receipt (1.9M) is $600K (assume difference attribute to CC growth as other divisions are established so receipts and revenue should match fairly closely).
Current number of operations 1600 vs. early March 1200, makes for ~400 per month.
400 ops x $1500 = $600,000 (yes I know some people say 2.5 patches per surgery but these are general figures)
What that loosely indicates to me is that Cardiocel revenue has grown to $600,000 per month, or $1.8M per qtr... almost equaling the medical device revenue. I imagine with the effort and cash going into sales growth at the moment (that everyone is complaining about), plus contributions from new regions (HK/Canada/MENA) that this growth will continue.
It's not hard to imagine $3-$3.6MM plus this quarter. IMO again, we are right at the turning point to exponential growth, July Qtrly and End of Year will be very exciting!
Quarterly, page-47
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