I will be reluctant to post much more on HC for various reasons…
The instos have moved the SP around quite a bit of late as well as many other non t20 holders (perhaps yourself included)…there is trading happening but that's the market. I am only perplexed as to the apparent loss taking some instos incurred post last 9.2c CR? …their call of course.
In most cases a company's current SP is directly related to that company's current performance. Something maybe happening on the TO front for NUH but who knows. We have to assume that away when looking at NUH's current SP volatility …. in essence NUH's strengths = a much needed product, good technical R&D support at Curtain, a masterful product launch earlier this year, main exposure to US market, good sales outlets worldwide, good manufacturer in Flex, management recognising the need to upgrade the product (improve the BT function, longer battery life and make the product more user friendly), ample current cash balance.
I perceive the weaknesses = poor capital management skills (we retailers were done over badly in 2 CRs as management were done over by the Capital Raisers…this resulted in early, excessive dilution -a killer for such an innovative, first to market product), inexperienced management/naivety in the bigger play, no chairperson after 6 months of search, IMO the product was launched too early before the BT issues were resolved ( management wanted first mover advantage at the expense of quality control and they knew the risk but I think this has harmed sales- a tactical error), the poor timing and self granting of options recently when management needed to show support in the face of a declining SP, no outlook statement for 2018 as yet, lack of detailed explanation in the recent preliminary report although that may be addressed in the final report especially the negative COS and the capitalisation amount for intangibles>$2m?? patents or goodwill??
On balance it's still early days and for a start up, crowd funded company they have done well...The top shareholders (Co founders) have capitalised on their skills gained with Sensear and put that knowledge to hopefully make a killing for themselves at NUH without having much (any?) skin in the game…they are punting with other people's (our) funds but that is ok, we all make our own investment decisions and stand or fall accordingly.
As I have said before the final judgement is in the financial reports and we must give the BOD time. The September and December quart reports will give the answers. My assessment overall is positive but management need to be continually reminded that they are working for us and we expect results and we should keep at them to perform.
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