Some signs of life in a couple of my loved dogs this week.
NXS which was sold down on unreasonable fears of a cr, announced a non secured credit facitility with Tiga. People sold into this news so picked up some.The terms dont seem unreasonable to me 12% with options at .42 and alleviated a few of my concerns. Still forecasting 36-40m this fy and cfp.
GSS, made a series of positive announcements which should have seen price spike but cruelled things with a CR.
Firstly their flu test which had been withdrawn in australia last year due to issues with detecting small concentrations of one of the flu strains was fixxed and reapproved just in time for our winter flu season. This had had a bg effect on earnings last few quarters.
Secondly; They finally received FDA approval for their
Gastrointestinal Parasite Detection
test and at the same time their Automated System for Sample Preparation and PCR Set-Up. The testing and approval took longer than anticpated and raised some doubts.+ the development of the automated testing has been a drag on cash and whilst this is Vers 1 hopefully that expenditure will diminish. If you believe the company they have used the time caused by delay in preparing ground for roll out.
Thirdly they bought in Allison Rossiter as CEO, ex managing director of Roche Diagnostics Australia with an impressive history of international positions with Roche
The CR was not well participated in by retail. Held below raise price where I bought ,with the shortfall going to a long term supporter.
Downside is Regal are major holders.
Worth putting them on watch lists imo.
