ChromaDex Corp. (CDXC)

[jfk]

Annual Letter largely a repeat of 2016's, albeit with good trends. Bottom line, we are 1 year overdue on the Consumer applications. The anticipated Consumer line is the great white hope, and the reason this is trading 8x sales. Without Consumer coming through, CDXC is OVER_VALUED here. I don't think Consumer (P&G, etc.) will launch until 2018..which leaves everything dangling until Q4, 2017. That leaves a vacuum for a fall, potentially back to where we were 3 years ago at $.65 pre-reverse ($1.95), but at that time fewer shares out. Right now we are a 1 trick NR pony (everything else is sidelined) with niche nutraceutical applications. BPI obviously never got off the ground. Unclear whether we will be burning cash without the Elysium volume, and we'll be racking up Legal costs in Q4 and heavier in Q1. If the market takes a swoon we easily go below $2 without some significant news. OTOH, if P&G ever comes on-line, we are back at $4 in a heartbeat. I am praying they get another Consumer company on board, with a deal that is structured with some up-front funding. The stock is otherwise toast. Oh, and get the rebuttal ready for the next SA attack article in Q2.