Post by
illumination1 on Jan 20, 2017 5:05pm
I talked to Joey
and he said that the company isn't in the same space as Vitera and does not compete with them for business so similarities as to the imaging software is not an issue for this reason as well as stating what I have typically said here that there are many imaging companies that use the similar software so it is not likely for there to be lawsuits. He further clarified that Vitera operates in the hospital space using 2d vs 3d images whereas our company uses both but for a very specific sector which is as the company write up states for the injury claims market. He said that there are roughly 25 million people on claims and that even before seeing an independent examiner it can take 2-3 months to do so and adds thousands of dollars to costs. The companies objective is to save costs and expediate the process while also verifying whether an injury occurred. He gave me an example that somebody may have a naturally occurring condition and be claiming it as an injury but through our diagnostic tools it will be able to detect otherwise. A testing would cost $200 and can be done in as fast as 48 hours thereby saving insurance companies good chunks of monies and back log of claims. As far as burn rate is concerned he told me that all of that can be calculated when looking at the financials and was hesitant in giving any future guidance because as he stated he honestly doesn't know because all of this depends on how much time it takes for the insurance carriers to accept what we have to offer. But on the whole he is saying that the company is gaining momentum and is going deeper with some of the carriers and is trying to establish relations with new ones. Nevertheless, some of the things that he said that does add to a fair extent to the burn rate are legal, accounting, and commissions. Software upgrades I was told can cost in the millions but they are using what they had and as to my understanding have not spent on it. Folks, overall, the success of this business like any others is dependent on the company's success in convincing more and more carriers to have what the company has to offer and it will take its due course in time just as would any other business with any other stocks listed on the exchanges. The bottom line is what I had figured for specific answers to our inquiries we will be directed to the company's financials as well as news releases as many companies nowadays I am finding don't want to say something and box themselves in to avoid lawsuits as well as iroc coming down on them and believe me apparently they do as one manager from a company I am in stated that iroc makes a list of people who they suspect are getting inside information from the company and then they go question the companies about it, so don't expect there to be any more transparency than what is stated in the financials and press releases. The only thing that I can really say is that all investments are a risk and if you feel uncomfortable with them it is better to cut bait than to keep sustaining losses. Nevertheless, from what my perspective this equity seems to be stabilizing around the .035-.04 base and with further company development and increasing client acceptance in the sector the stock should go up but right now it is very risky as until more and more carriers take the service it leaves the company open to further dilution. Folks that goes elsewhere as well. Remember what I said, most of the companies are in the red and have never been profitable and the way they survive is by diluting and if to an excessive amount then consolidating that is just the nature of investing in stocks especially in small caps. Hope this helps. Have a wonderful weekend everyone. glta