Exactly, we have been on a downward trend for a long time now and much of this stems from the market expecting to have made much more progress by now, rightly or wrongly, and the company not really delivering. When they finally do deliver iMed we see how slow and drawn out it will be to grow with them, could be twelve months and we have 5-6 sites only going..
A lot of the previous announcement which I invested on the basis of have proven to be somewhat misleading in my opinion:
1. 08/10/2020 Page 27 - It says already installed and used at 6 highest rating hospitals and on page 28 lists them but most we are still doing trials with and could be months before anything is published. Page 28 says these hospitals present revenue potential in the 'immediate term'. Correct me if I am wrong but this is not 15 months later and still not a cent received and no contracts in place?
2. 18/10/2020 - This was the iMed 'Trial' sold as a commercial client, it talks of a national rollout occurring in early 2021, we are in early 2022 and we may be lucky to be running at 3 sites by March 2022.
3. 04/03/2021 - 'The Company anticipates that Generation One XVD Scanners will be placed in hospitals for clinical trials in early 2022'. I would be very surprised if this happens this calendar year. They have only just got the first scan done but there is likely to be much more testing, engineering, IT systems etc before it can be placed in a hospital? Plus which hospitals? They would want to ink someone pretty fast for them to meet this earl 2022 commitment.
I get Andreas is passionate and optimistic but their announcements seem to pump things up and over time the market has realised it is mostly hot air.
Also I stumbled across DoD Payment Plan announcement and disappointingly any contracts here are going to be one by one, hospital or clinic individually, so expect this to be very slow I'd say as each one may want to do a trial and a long drawn out pilot program.
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