$heff's $tation of $tocks & $olid DD

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TEAR 2.4 Full DD: coverage forecast sales of $145m on only a modest market penetration. Edison 14 May 2015 : "If it can achieve even modest market penetration it may reach potential yearly card sales of $145m. This assumes 10% provider penetration, 25 patients per day, 25% of patients tested and 175 clinic days per year".

Edison also said that "The current EV of $73.4m", "May not reflect market potential". current cap is only $14m (about 5m O/S) a/o May 12, 2017, extremely undervalued relating EV mentioned.

This coverage was written exactly 2 years ago before TEAR Achieved those Milestones (Achieved more than a modest market penetration as Edison forecasted):

1. Korea Approval in the Republic of Korea by the Ministry of Health and Welfare.

2. Mexico "is expected to launch in the Mexican market in the first half of 2017".  

3, India Commercial launch in the Republic of India

3. Brazil A/o May 12, 2017- approval in the Federative Republic of Brazil (the largest market in Latin America with a population of over 200 million).

CEO of TearLab Corporation said, "We are pleased to complete these major milestones for TearLab’s international business as we continue to increase our global footprint in key strategic markets. Due to their size and growing dry eye populations, these three markets represent significant opportunity for us to expand our business and continue toward our goal of making osmolarity testing a global standard of care in diagnosing dry eye disease.”

Earnings: May 15, 2017
EPS for TearLab (TEAR) Expected At $-0.75. Although company still facing net loss investors always looking forward.all point of revenues boost thru Q4 and beyond. 4 major approvals since Jan. 2017, and the biggest one, Approval in Brazil, hit last Friday. company has an impressive grow rate:

Revenues in Thousands $ :

2012 3,960 first commercial launch of the TearLab Osmolarity System
2013 14,645
2014 19,718
2015 25,156
2016 28,014 expenses cut by 30% too.

More estimations made by Tearlab in 2016 confirmed Edison Valuation. June 2016 Presentation:

1. Current Run Rate - $27 million
2. Potential current customer footprint - $98 million
3. Market opportunity with current U.S. infrastructure $194 million

Strong IP Portfolio:

U.S. 11 Issued Patents
ROW 25 Issued Patents
Pending 18 Patents
https://www.tearlab.com/investors/TEAR_Investor_Presentation_LD_Micro_Final_20160609_Rev.pdf

Last 10Q: company had $15.5m in Cash and Cash burn rate was $2.1m/Quarter. cash should be sufficient till at least Mid-2018 per this rate.

It's a low floater. Those developments will have a major effect on a $10m cap Company. They will Probably talk about it thru today's C.C. especially, Brazil effect.