Conference CallConference call was interesting and somewhat better than expected even considering the SP and some understandably impatient long-term investors. Company's back isn't against the wall and that's good to know.
Jim took some heat on missed timelines of the past and rightfully so. In his defense, they did re-design the thing completely for manufacturing and they are leagues ahead of where they were at the beginning of the year. But he still needs to be on top of his game now.
Good that he addressed the misconstrued result of the 2017 objective for the Rochester U research study. They basically used the study feedback to refine the design concept and come up with what they have now. Never intended the study as a clinical for FDA use. That jives with what I understood from NRs.
Very happy to hear they're ok for cash through the next 5 months, so no rollback planned, and no massive dilution bomb coming. So they have a little time to make some market magic happen which is good. They have significant milestones coming and the market timing might actually be right this time.
Not convinced a marketing blitz will help much. Investor awareness programs are less effective in a deflated venture market. IME story will be white noise to investors who don't already know the company and are looking at other undervalued plays too. Time and $$$ better spent on hitting every objective by year end and having perfecly written NRs to circulate which add PLENTY of clarity and certainty.
Events which will help are: VERIFIED unit in the next 3-4 months, production launch early Q1, FDA direction on any clinical testing needed, completion of documentation (important), clinical trial announcement by Nov (if needed), and submission of the completed FDA application.
At least 4 or 5 of those should happen in the next 3-4 months and there is your capital raise window with a lot more certainty, less dilution, and more cash.
Validation testing Q1 with any clinicals Q1/Q2 puts completion of FDA's file by June. That's in line with what I was expecting.