Tiresias: the sleeper wakens

"Without change, something sleeps inside us, and seldom awakens. The sleeper must awaken."

Frank Herbert, Dune

My friends,

Tiresias has spent pleasant months of sabbatical gazing at the stars, reading, writing, studying, and contemplating. Tiresias has watched and waited, biding time. But change has come and time has arrived, to once again, talk with his friends. Tiresias has much to say, much to discuss, and much to analyse. Tiresias is flattered that some of his good friends, here at HotCopper, have asked for Tiresias. Tiresias really does have much to say, too much to say in this, his first epistle in many months. He will therefore only re-introduce and foreshadow some of the topics that need to be discussed in detail and what these details mean for Optiscan and for us all.

The first subject Tiresias would like to touch on and clarify is the delay in the FDA for oral application of Optiscan’s digital in vivo 3D real time confocal digital endomicroscope. If we lived in a rational world, FDA approval would be automatic. But, of course, we are dealing with the dead hand of stultifying bureaucracy. Nothing, in this Kafkaesque world can be ever considered a foregone conclusion. From Tiresias’s understanding, apart from bureaucratic delays and recommendation for De Novo Application, should truly be automatic, that is if a failed would-be lawyer in the beltway deep state bureaucracy doesn’t find a spelling variation and request a retyping of the application. And just this approval, which, in Tiresias’s opinion, is totally unnecessary, will be transformational for Optiscan, and open the doors to all the other and much bigger applications. Tiresias has previously addressed FDA and has expressed his cynicism about this whole process and its corrupted stranglehold on the medical and pharmaceutical world. One-day perhaps this will be corrected but for the moment Optiscan and all companies in the medical sphere, must abide.

Tiresias could now discuss the publication of the oral data, a stunning landmark paper in the oral cancer universe. Tiresias could and has much to say about Carl Zeiss and the brain tumour progress and the orders Optiscan is receiving from Carl Zeiss. He too needs to discuss other applications foreshadowed and now budgeted for in the fundraising announcement, most importantly breast surgery and gastrointestinal in vivo endomicroscopy. Most exciting too, something that is and has been in the works for some time now, Artificial Intelligence. Tiresias will visit and revisit all of these in due course, but today all he would like to comment on is the underwritten offer to raise $16.7 million.

One of Tyree's good friends, a retired stockbroker, and a major OIL shareholder, was amazed at the slickness of Optiscan’s raising. There are no stockbroker fees and no underwriting fees, the underwriting being done by the two cornerstone investors, the top two shareholders, Peters Investments and Orchid Capital, for no underwriting fee. This confidence, shown by the two largest shareholders, willing to stump up the money and happy to take up any overhang speaks volumes. Any shortfall of tired, stale, tapped-out current shareholders will be seen and taken. We must also remind ourselves they would've done their due diligence and understand the real prospect and the path forward. This augurs very well for Optiscan imaging and for us the shareholders, and we can now look forward to significant real organic price rerating. The change is here and Optiscan has now awoken and just watch the chart after the entitlement offer is completed.