Huge Red Flag for IMEIME quietly removed the calendar to commercialization from the corporate presentation in the investor's section of their website as well as from the recent SEDAR MD&A. Not a good sign.
The calendar was in the June 2018 corporate presentation (now removed), but has completely disappeared for the August 2018 presentation. It is nowhere else on their website.
Thankfully the calendar was included as part of the first quarter's SEDAR MD&A filing in May so you can still view it there to see the change for yourself. IME has no power to remove content from the previous SEDAR filing.
SEDAR's site is down this morning but you can check back later to see the calendar from last quarter's MD&A. It is not in the recent MD&A filing.
So it seems IME has changed the entire timeframe to commercialization and expect this to take at least a year longer than previously expected.
Additionally, in the June IME calendar they showed "Launch" in May 2019 and a notation saying cash revenues November 2019. In the recent MD&A - they stated timeline to commercialization is now 2020. Also the FDA pre-app was supposed to be July, now it is Sept. Both these statements prove the timeframes have shifted significantly.
When investors figure out the timeframe to commercialization has changed and is much longer than they think, and when they realize the real prospect of another dilutive PP in 2019 at 10 cents (or less) may be required to bridge the time gap or fund other products, this stock goes to 5 cents because holding IME through a potential 20-30% market correction in 2019 and a PP next year makes no sense.
IME's product is still great, but this stock will suffer for at least a year, maybe two. Too bad.
I would still buy a pile of IME at 5 cents and just forget about it till 2021 or 2022.