Nibbling... I added 5,000 shares today and will continue to add as we drift lower. Micro caps are getting very little love right now and VRS is no different. I'm admittedly surprised the stock hasn't performed better due to the near-term catalysts at hand, but that's the way the cookie crumbles. I'm having a hard time finding a reason to not buy here:
- FDA meeting which will give the company a direction for getting the Aura approved in the US
- Late summer results on The Core which just adds more goodness on top of what we already have
- Beta units being tested now
- Handily outclass the competition - MELA looks ridiculous compared to Aura
- Enough cash to see through to commercial production later this year(early next is my guess)
- Published clinical studies showing the efficacy of the technology, which shows how much better the Aura is than current methods
- Excellent economics - I calculated that, due to the compounding effect of the sales + service contracts, just 500 Auras sold would bring recurring revenue of ~$12-15M/year
- Ready to sell in Canada, Europe, Australia
.....I'm sure there are plenty of other things but it seems to me the obstacles are far fewer than the path to production and sales. What dermatologist wouldn't want to "at least" improve their screening by using the Aura? As the Zack's report points out, a dermatologist or GP would only have to do about 5 scans($200/patient) per month with the Aura for it to start paying for itself in the first year and something more like 8 scans in years 2-5...that is absolutely nothing. A dermatologist could use the device hundreds of times per month.