Its not inside information but I may be able to color it for you. A few years back, the FDA started requiring makers of needleless injectors to be bundled with a specific formulary in order to get approval by the FDA to commercialize this type of product for healthcare. Some companies, like PharmaJet, started bundling its needleless injector with influenza and insulin type medications (both are non-prescription BTW), and most of those devices are now one-off's, or single-use disposables. The BJCT unit was developed for multiple use, considering its materials and functionality.
I personal like re-usable jet injectors with certain medications, more on the opioid - pain side. BJCT was unable to secure a US pharma to partner with and sought foreign distribution, which, under the circumstances, was the only direction it could go in.
The company stopped filing its required disclosures with the SEC and after a time period, the SEC brings actions to de-register (revoke) the companies registration, or its ability to have its shares listed for trading, effectively making it a private company. Its a severe blow to its shareholders, but this is usually done for one of 2 reasons. The company has run out of resources to continue as a public company, or it wants to go private to try to attract a buyer, so not sure what the behind the scenes intentions are, but as you know, I am invested in 2 other companies that focus on biometric technology, one of which has spoken with the lead investor of this company, but I don't know what has transpired, if anything.
How are you making out over at SMME?
