Growth where it mattersCARA's sales in the UAE and India grew at annualized rates of 225% and 570% last quarter. If those rates continue for another year, those two countries will be contributing $1M/yr in sales. The company has recenlty expanded into Turkey, Eastern Europe, Argentina, and Algeria, which will provide further growth.
CARDS is burning cash, but their customers are junior miners, who have been hit the hardest with the downturn in commodity prices. The company needs to focus on marketing the product to majors who are the only ones still spending on exploration.
With a burn rate of $230k/mth, Diagnos has 6 months of cash, but the warrants will provide liquidity for an additional 2 years. This gives lots of time for management to focus on commercializing CARA. In the past, management has had to raise capital every year, which took away for their running of the business.
All the tools are in place for the company to grow exponentially. We know CARA works, as evidenced by the successful field trials in the UAE. The sales funnel is expanding with their entry into new markets. Now we just have to sit back and watch the momentum build.