Time to reign in on Guesstimates ? Hi Mike270 and this isn't a poke at you but as you have stated what you see I would like to understand more on where you see or sense that ?
With all due respect I don’t see anything that indicates short term , medium or long term for that matter.
This isn’t a bash or being negative. Im looking at the meaningful wording nothing else.
QUOTE “$15 M allows us to expand our product DEVELOPMENT”
Clear unambiguous indication that the product is still in development. At this moment that product is called PATSCAN it is a singular product and therefore that is what is being referred to.
QUOTE “ The financing FURTHER SUPPORTS RESEARCH TO DEVELOP FUTURE ITERATIONS”
Clear wording that states that anything else is yet to be researched, discovered through test or defined.
QUOTE “ These initial installations will be used to build out MACHINE LEARNING CAPABILITY to ensure effective detection parameters are available as commercial deployment advances.
Clear wording that what is out there are installations that are containing progressive Alpha / Beta subsystems being progressively programmed to understand the difference between what is good ,bad and ugly.
QUOTE “ To ensure effective detection parameters are available”
Further ratification that indicates that the company product is still in a stage of progress and if was any further advanced I doubt that Martin would clearly indicate that without any question of a doubt.
I see that release as a simple “signs of life “ statement that tell the investor community that the cash is going to help without question.
The problem is that Martin and every tech CEO in his position faces, is damned if he does say something and damned if he doesn’t.
Leading a team and being up to your armpits in alligators, of which the fiercest are of course demanding investors; isn’t for the faint hearted.
Martin has the unenviable task to release news that has to balance the positive with the shifting operational realities that he is faced with.
Lets not take eyes of the fact that up until several weeks ago the team have been running on a very limited cash resource and unable to bring on board the people required to shift gear.
I think it is always incumbent on investors to always remember that when the science is playing ball and all is going to plan thats, all well and good, but it very rarely does.
Martins job and that of Dinesh and the developing leadership team is to ensure that the overall team remain focussed and positive even when multiple delays and bad things bite them.
In overall reality many of the statements that have mentioned projected timelines will have been best part reliant on the people who developed the technology.
I can tell you from very cold hard experience and rather distinguishing premature grey hair, that University researchers live in universities and remain in universities for a very good reason. Their impeccable intellect is very rarely married with common sense pertaining to skills and understanding that would interface of survive within industry. What researchers and developers in academia almost never account for is how something outside of their controlled environment will behave. So please accept that highly likely what Martin and the team were led to believe to been a slam dunk was a slam dunk in the eyes of the people who developed the detection method.
Springs to mind the adage from the big short that states;
“What you don’t know want get you into trouble - It’s what you do know , that just ain’t so”
(I would quote Mark Twain but that hasn’t been proven as fact that he said it )
To this point i think that all of the very positive statements were with the greatest of intention and accurate in regard to what information was available.
I would guess that now that they have brought in several serious hard and plain spoken engineering people that don’t take anything that acedemia says lightly through experience; I believe that this has focussed a few matters in good time and this has caused a timely reset of plausible expectation within patriot.
I believe that this is clearly illustrated in very crisp wording of the management disclosure document on 28th December.
From my personal point of view - All good.
Carl