jdcpa1
2 years ago
10Q out and just wow.. 100k of revenues years after FDA approval.. obviously failed on sales strategy and giving the joint venture partner all but 51% ownership of the laser now looks like another foolish move. Also they never completed the deal for stealthmark... epic failures to execute imo but it always seemed to be a long shot with the newer inexperienced team post AK..
Then we get this piece of artwork below in the filing.
"In addition to the above grants, during the year ended September 30, 2021, the Company’s Board of Directors approved the issuance of a combined total of 41,353,731 restricted shares of the Company’s common stock (“Escrow Shares Account”) to its Officers and Directors all of which will only be issued upon the sale or merger of the Company" JUST WOW and that is a year and a half old that footnote is.. likely no buyers are out there willing to pay enough to cover the $4M plus of debt with most of that due to the recipients of the 41M shares when or if sold... Looks like toast to me...
For chits and giggles search Google for psoriasis laser equipment and then click the shopping button. There seems to be dozens of options for sale competing in the space.. lack of a sales strategy and wasted time has really screwed the little guy over here..
If you think Management is doing a good job then you should call them and tell them so they hear it personally. If you think they chit the bed laying on their arse with no real business strategy then you can always tell them that as well..