GSS has gone radio silent, but it is worthwhile reminding ourselves that on 4 June 2024 it (1) announced FDA clearance for its EasyScreen Gastrointestinal Parasite Detection Kit in the US and (2) a simultaneous capital raising of A$30 million to support "the US commercialisation of the Enteric Parasite product in the US, including new customer installations and establishment of manufacturing capability in the US" as well as some other uses for the funds. As an aside, it is interesting to note that in just one sentence GSS referred to the US three times.
tt is now more than 8 months since GSS announced commercialisation of the product and the $30 million raising.
GSS has not seen fit to offer one word of explanation for the failure till date of one commercial sale, for how much of the $30 million in funds has been spent on commercialisation in the US without a subsequent product sale, the amount spent on the salaries and other benefits of the US sales team, etc, etc. It is astonishing that GSS, having raised $30 million from investors, does not see fit to provide any explanation whatsoever for what it has identified as its most important commercialisation strategy.
GSS has a new Chairman of the Board and CEO. Either one or both of these individuals need as a matter of urgency to provide a detailed explanation to shareholders on this matter. The Board is the custodian of the interests of shareholders and shareholders can rightfully expect the Board of GSS to properly discharge its duties. The absence of communications when they are due can constitute a failure of continuous disclosure responsibilities. GSS needs to urgently provide a commercial update on its activities in the US market.
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Last
36.5¢ |
Change
-0.010(2.67%) |
Mkt cap ! $82.90M |
Open | High | Low | Value | Volume |
36.5¢ | 36.5¢ | 36.5¢ | $160 | 438 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 19601 | 36.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
37.5¢ | 32411 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 14601 | 0.365 |
2 | 9513 | 0.360 |
3 | 30509 | 0.350 |
1 | 1683 | 0.300 |
1 | 25000 | 0.270 |
Price($) | Vol. | No. |
---|---|---|
0.375 | 32411 | 1 |
0.380 | 3086 | 1 |
0.390 | 20000 | 1 |
0.395 | 5000 | 1 |
0.400 | 111918 | 2 |
Last trade - 13.38pm 04/07/2025 (20 minute delay) ? |
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