MedMira Inc V.MIR

That's what I call a Turnaround - Great report

[MrHODL]

Respect MedMira for such a great turnaround and more than promising outlook for what is yet to come. My hightlights and key insights from the report and management discussions:

• "The increase in revenue of 74% for fiscal 2020 compared to fiscal 2019 is the direct result of the Company’s launch of its REVEALCOVID-19TM Total Antibody Test."
  
   

• Finally promising cash reserves (400k)

• Huge manufacturing increase - "In the third and fourth quarter of FY2020, MedMira’s Operations team efficiently increased the weekly production in order to meet the growing demand for its REVEALCOVID-19TM Total Antibody Test by expanding its manufacturing team 10-fold."

• Fully automated manufacturing in planning (or even already implemented) - "Company acquired additional machinery to complete its semi-automation and is in the final planning phase for full automation"

• Outsourcing of certain R&D - "The decrease of approximately 37% in research and development expenses were due to that certain R&D activities were externally funded."

• Efficient marketing approach - "Sales and marketing expenses for the year end July 31, 2020 were $40,327 to $131,217 for the same period in 2019. The decrease of approximately 69% was due to the Company’s sales strategy (B2B)."

• Additional revenues from Switzerland (probably EU distributor ConvirmDX) - "Subsequent to the end of the fiscal year 2020, the Company has generated additional revenues from product sales and from a product development contract in the amount of CHF 500,000 equal to approximately CAD $750,000"

I expect Q1 report to provide some very INTERESTING insights what happened in the last months.

[Swingtrader]

Agreed!  Strong financials. Health Canada approval this week would be Epil! $1+ Stock.