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At $0.04/hare and 50K shares trade volume, I should say not. GLTU
This may be your perfect time to start unloading.
The December PR said manufacturing was the limiting factor on a bigger launch, so having a new supplier with no restraints is a huge deal in my opinion. $350k for one order means we could should see millions in revenue over the next 6 months. It's also nice that it is an improvement on the CGM hardware itself
Great news!We will exceed our original projections starting in quarter 3.
News! SINGAPORE, June 01, 2023 (GLOBE NEWSWIRE) -- ALR Technologies SG Ltd. (“ALRT”) (OTCQB:ALRTF), the diabetes management company, announces the issuance of a purchase order for the first shipment of second generation CGM hardware used in the GluCurve Pet CGM. The shipment is expected to be delivered to ALRT’s distributor in early Q3 with a sales value of USD $350,000.
“We quickly sold out of inventory during our soft launch in January due to tremendous interest in the GluCurve Pet CGM from veterinarians, pet parents, and various animal health companies. This led us to the decision to switch hardware suppliers in order to accelerate the second generation GluCurve,” said Joe Stern, Head of Animal Health at ALR Technologies SG Ltd. “While the new CGM hardware is technologically impressive, the most prudent reason for the change was manufacturing capabilities and reliability. Our new supplier has proven experience and is able to produce millions of units of CGM hardware per year giving us the ability to conduct a full-scale U.S. launch, E.U. launch, and global launch on our own timeline. In light of the switch, we will not have sales for the first half of 2023, however, this change will give ALRT the opportunity to exceed our previous outlook for full year 2023 revenue and earnings.”
In addition to removing restrictions on production volume and enhancing reliability, the second generation GluCurve is an all-in-one model which increases the ease of application, it has improved accuracy, improved Bluetooth range from 6ft+ to 20ft+, and is a quarter of the size and half the weight of the original model.
A portion of the CGM hardware shipped for the soft launch in January did not meet ALRT’s quality standards which will result in refunds or replacement units. Any replacement units along with current and future orders will be filled with second generation CGM hardware.
After 6 years with ALRT, I'm feeling like a bag holder.
Sure hope so, because I've been watching this thing move sideways for almost 7 years now. Hopefully something breaks soon. GLTUA
We should be close here to shipping out 2nd Gen units. Exciting times!
I picked up some shares under $0.04 during this down turn. Averaging down my $2+/share initial investment. Hoping this rollercoaster ride continues a bit longer. Probably have less than 20 years left. Holding out hope this pays off before the end. Good luck, all!
Don't you think everyone has a right to be here and say what they want. No matter if you agree or anyone else. Might be time to go hit that little white ball.?
YOU, McKvee ... are a joke! Stated "bearish" ... you get on here and authoritatively try to lead the discussion ... you probably don't have more than a few nominal shares. You are certainly not a positive board participant and I am certain ... not wanted here by most. Please leave ... check the stock price and when you can recoup your minimal investment, so be it. In the interim, leave us alone. No one appreciates your post(s) and ... no one with good judgement and common sense cares what YOU THINK! As I have asked before ... please leave and quit being an ass!
LOL. Sell what? 10K shares at a time, 25 times, driving the share price down losing more and more money, or put a 1/4 million shares out there with an asking price of 2¢ to dump it and still lose a boat load of money?
No, my friend. I'm stuck being a bag holder like you and the rest of us - meanwhile keeping my fingers crossed that some day, the share price and trade volume will increase to a point where I can get out without losing my shirt! GLTUA
I would definitely sell if I were you. Why put yourself through all the suffering.
035 now. Below my entry point. No volume. Been over 6 years. Should I be bullish?
0375 now, on 10K shares traded.
Absolutely no interest in this stock. Put a bid in for 10K shares at .035 with the Ask at 04.. Massive volume today at 700 shares. Let's see if if the order fills and if someone wants to dump a few..
For crying out loud! This ticker is anemic!
Having been a manufacturer for years and going through a number of recalls, I can say from my and my company's perspective that recalls are never good. That's not to say that finding and correcting the defect(s) isn't good, but the fact that the company put out a defective (and sometimes potentially unsafe) product is not good - for the consumer or the company. It's something that responsible companies strive not to do.
Having said that, it's better to find those defects sooner than later to maintain marketplace confidence in the product and company. GLTUA
I wouldn't say that it's never good.It's not a total recall,and it's good that defective products are taken off the market. Happens to great companies all the time. Look at car manufacturers.https://support.apple.com/iphone-12-and-iphone-12-pro-service-program-for-no-sound-issues
While I don't see ALRT's announcement as "bad", I do find it disappointing. There's a big difference between periodic upgrades of models, like the iPhone, and recalling the product because of defects. Obviously, products develop over time. But recalling a product is never good.
Completely agree. What I see is results from real world application and not clinical trials. Bugs, defects, enhancements were identified and can be updated and/or fixed. With every product ever made, especially technology, there is always multiple versions. I’ve always heard, never buy a new model car the first year of production because they have to find out the issues. Hell, we are in what, IPhone version 14+. Why? Because the first 13 versions needed improvements. This isn’t bad imo. Quite the opposite.
I think pet owners would want to take what's available now instead of waiting for the second gen device;knowing how pet owners feel about their pets.
Ya,I don't think that todays news was bad. It was just a manufacturer defect. The fact that there is a second generation model in the works,and that it's coming this year is also good.
Just buy more shares at the sale price today.
Back down to 4¢. So much for the 'good news'. Maybe 2024 is our year GLTUA
Interesting. The 20F states they are releasing a 2nd generation model during or prior to Q3 which makes me think its would be June or July. It also says it was only a portion of the units shipped that are being refunded and that they were covered by the manufacturers warranty.
It also says they are expecting to have the 2nd gen hardware secured in Q2 so that must be why we havent heard an updates yet. They must be in the final stages of the contract, I wonder if that means its a different vendor too?
In January 2023, we collected proceeds of $160,000 in relation to the December 2022 delivery of GluCurve Pet CGM units. These GluCurve Pet CGM units utilized first generation CGM hardware provided by Infinovo. A portion of the CGM hardware supplied to us did not meet the GluCurve Pet CGM specifications for the end users. Accordingly, we will provide either refunds or replacement CGM Hardware units to Covetrus for those units which did not meet the GluCurve Pet CGM specifications. We are working with Covetrus to determine the amount of refund or replacement CGM Hardware units we will be issuing and expect to be offsetting the related cost against a warranty claim from Infinovo. We are evaluating options to launch the second generation CGM Hardware for the GluCurve Pet CGM and expect to have our supply of the second generation CGM Hardware secured in Q2 2023 and the initial shipments occurring during or prior to Q3 2023
20f was filed today
How did you find this out ?
Looks like shipments pushed till Q3 2023 of the 2nd generation pet cgm.. the initial shipment failed to meet specs.. and refunds will be given
edro and dsm, thanks for responding.
nothing i can add to the convo...
good luck everyone :)
Do you or anyone know if Covetrus highlighted GluCurve at the January 2023 VMX Conference and Expo in Orlando?
Well, that's not good news.
Good post. I agree. Always thought the biggest initial bottleneck would be manufacturing.
We need to remember they are just getting started. As much as we all would like it to, it's not going to happen overnight.
Still hoping for some updates though. Sales numbers, partnerships, product performance/customer satisfaction, human cgm status, etc.
It doesn't surprise me that ALRT is not hitting up all the conventions and getting their name and product out there yet. Also, that there are less than 1,000 downloads on google Play and Apple doesn't surprise me either. When Joe Stern responded to me, he talked about a soft launch, and in the December 1, 2022 Press Release, they stated "The quantity of available units will ramp up monthly to support a full U.S. launch followed by a global launch as inventories permit."
Yes, we all want them to roll out the product as quickly as possible; however, it makes sense for them to roll it out as they have product available and not overextend themselves. I think they are ramping up production and controlling the quality while slowly rolling it out. Then, as production capability increases, they will try to create more demand. As a consumer, you don't want to be "sold" a product that is not available yet. Just my opinion.
Investors shakeout.Well,she dropped below support. Not surprising. The otc is news driven.Weak hands out,strong hands in.Let's see if they come through on promised PR.
The convention was the Florida veterinary medical assoc. in Orlando , Fl
hi dsm,
which convention was this?
thanks,
hi edro, what do you mean?
no representation at the veterinary convention this past weekend.
Pretty much as I feared. I'll be taking the pooch to the Vet soon, and will ask her if she knows about GluCurve. My guess is that she doesn't know much if anything.
That begs the question as to what ALRT and Covetrus are planning along the lines of advertisement, product education, attending and presenting at veterinarian trade shows, etc. I'm sure they're addressing this. Just curious as to their plans.
Spread the word DSM. Spread the word.
I am with you. We need need an update.
Where is the significant rise in sales? Where are we with the human side of CGM/Predictive A1C?
Was just at a Veterinary conference, spoke to the specialist on canine and feline diabetes, mentioned glucurve, they never heard of it. I showed the website and info and they will take a look at it. You would hope all Vet schools would be notified about the new product, perhaps be given sample units to evaluate. I will call schools and ask if they are familiar with glucurve and see response.
What ship are you referring to....the update ship? Or the alr technologies ship?
I don't think either ship sailed. Ship might be running a little behind, but.
I expected an update the beginning of April. That ship sailed.
You still should be nice to your mother in law.
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