Since then TDX has traded as high as 90 cents, and as low as 1.9 cents. The 12 month high has been 15 cents and the 12 month low has been 1.9 cents.
The company has 6.6 million in cash (as of Dec 2008) and is currently trading at a maket capitialisation of 7.44 million (at 3 cents a share).
* Financially stable company - "Cash is king" at the moment
* Market puts a value of only 0.88 million on patented technology. Company seems grossly undervalued!
In terms of projects:
There are 4 projects being developed by TDX.
1. WheatRite - 2. Undisclosed Product (Agriculture) (Both Developed in conjunction with Bayer)
3. TB DiagnostIQ (Developing in collaboration with BD)
4. RD 001 (Respiratory Disorder)
The summary of how each project is going:
1. Commercialisation of product - Will be interesting to see in half yearly report the generated income to TDX from product. "Tyrian to manufacture 10,000 of its proprietary WheatRite kits and 500 ReadRite instruments for marketing and initial sales."
2. Some sought of Environmental Test, they won't disclose it so they can have a comparative advantage when commercialized. Still at discovery/valadation stage.
3. TB Active diagnosisics is a massive, massive cash cow project if TDX can pull it off. Currently the feasability phase has been completed, and product development is beginning.
4. Respiratory disorders is still at the discovery/valadation stage. It is Internally developed so all profits from this one will go straight to TDX.
In the second quarter the things we have to look forward to:
* Complete proof-of-concept for second Bayer DiagnostIQ product (Undisclosed agriculture product)
* Initiate in-house diagnostic project on respiratory & infectious disease (RD-001 should be validated)
* Revenue generated from Wheatrite in half-yearly report.
My views on TDX are:
* Financially sound (Big Plus in this economic climate) * Interested to know how much revenue will be generated from Wheatrite. Canada is the world's 6th biggest producer of wheat with 25.2 million metric tons produced per year. * Currently grossly undervalued. Patented technology should be worth much more than it it currently worth. * Pivotal moment in TDX history - Wheatrite commercialized. Hopefully this product will be introduced to other major wheat producers to provide greater market exposure. * Diversification strategy is working well - Healthcare and Agriculture are two industries which are defensive in downturns.
All in all, I think the market was pre-emptive in the commercialisation of Wheatrite (from 2 cents to 3 cents). I would have expected the share price to jump more than it did after the commercialisation announcement was released, however the market was expecting it during 1st quarter.
I think over the next coming weeks, a steady rise in the share price should be expected.
I think at the current share price of TDX, it presents good value. Very good growth prospects if TDX can get TB project sucessfully to commercialisation stage.
Volumes in the month of May have been stronger and more consistent than in previous months which would suggest the market is starting to see value in TDX so we could see some substantial increases in the near future. The current market depth suggests the share price won't fall below 3 cents in the short term, and should rise after the commercialisation announcement of Wheatrite.
I always recommend people to "Do your own research". If you have a medium to long term perspective on TDX, my sentiment would be strong buy for reasons outlined above.
Existing shareholders should certainly hold, and possibly accumulate based on low share price.
Good luck investors. TDX's Share Price Will Recover Soon!!!
CGA Price at posting:
2.9¢ Sentiment: ST Buy Disclosure: Held
