Covalon Technology Limited (COV)

[TheMonolith]

Congratulations on your years of DD and it coming true. Huge.

[zenvesting]

This is why I have held this stock for five years, the medical device coating business is a business I think that holds great potential for further growth AND PROFITABILITY.....royalty streams flow significantly to the bottom line!

Covalon Announces Receipt of First Payment Under New License Agreement
Business Wire Business Wire•August 20, 2018
MISSISSAUGA, Ontario--(BUSINESS WIRE)--

Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, today announced that it has received $3.5 million USD under a new license agreement (“Agreement”) with a large global medical company (“Medical Partner”). The Agreement provides the Medical Partner with certain rights to use Covalon’s patented antimicrobial medical coating technology with some of its devices. The Agreement was entered into in the ordinary course of business of Covalon and is subject to confidentiality provisions.

In addition to the $3.5 million USD which has today been received by Covalon, the Medical Partner has also agreed in the Agreement to pay to Covalon:

$5 million USD in additional license fees as certain technology development milestones are achieved;
Fees for Covalon technology development services and equipment; and
Ongoing royalties on worldwide product sales (subject to regulatory clearance of the products).
“This new license agreement is yet another milestone for Covalon,” said Brian Pedlar, Covalon’s Chief Executive Officer. “It is a validation of Covalon’s patented medical coating platform, which helps prevent infections and saves lives in many clinical settings.”

About Covalon

Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit www.covalon.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.


View source version on businesswire.com: https://www.businesswire.com/news/home/20180820005116/en/

Contact:
Covalon Technologies Ltd.
Brian Pedlar, 905.568.8400 x 233
CEO
[e-mail]
Toll free: 1.877.711.6055
www.covalon.com
Twitter: @covalon

[zenvesting]

COVALON ANNOUNCES ANOTHER MILESTONE QUARTERLY PROFIT ON EXCELLENT THIRD QUARTER FINANCIAL RESULTS

MISSISSAUGA, Ontario--(BUSINESS WIRE)--Aug. 28, 2018-- Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, is pleased to announce today another milestone quarterly profit of $2.2 million on excellent third quarter financial results.

Third Quarter Summary Financial Results

Revenue for the three months ended June 30, 2018 was $7,933,676, up 34%.
Gross margin for the quarter ended June 30, 2018 was 82%, compared to 79% last year.
Net income for the quarter was $2,198,467 or $0.10 per share, compared to $541,346 or $0.03 per share last year.
Current cash balance in excess of $5 million and a new $17 million credit facility
CEO Comment

Mr. Brian Pedlar, Covalon President and CEO, stated:

“Our third quarter financial results are very strong and are in line with our expectations. We have continued our solid financial growth this past quarter, with revenue of $7.9 million and profits of $2.2 million, which are another milestone for Covalon. We have worked hard to successfully deliver revenue from different Covalon product offerings as well as from different geographical markets, which clearly demonstrates that our business model is diverse and our strategy of operating in complementary markets creates a stronger company.

“As this quarter’s financial performance demonstrates, we are not solely dependent on one market for our growth and prosperity. Licensing and royalty revenue for the quarter was very strong and reflects new and existing contracts we have undertaken with customers in a number of medical verticals. We have a very strong team focused on developing innovate products for large medical companies under development agreements, that create stable ongoing revenue from development services, license fees and royalties. We recently announced the receipt of the first license fee of US$3.5 million under a new license agreement, which will deliver additional license fees of US$5 million, fees for development services and equipment and ongoing royalties on worldwide product sales, once they are cleared for sale.

“Our revenue in the United States has increased significantly this quarter compared to last year. Revenue continues to grow from our IV Clear vascular access dressings and our ColActive Plus advanced wound care dressings in the United States where we currently operate without our own dedicated sales force – a situation the Company is working to address through acquiring our own sales team.

“We continue to deliver products under the competitive contracts previously announced in the Middle East. Revenue fluctuates under these contracts as our products are delivered to the institutions funded by the ministries of health that participated in the competitive contracts. Management of the Company believes, based on its ongoing communications with the Company’s partner in Saudi Arabia, that the reported dispute between the Government of Canada and the Government of Saudi Arabia will not have a material negative impact on Covalon’s business in the Middle East.

“I am encouraged by our continued progress in Europe and Latin America. We are receiving very positive feedback on our CovaWound line of advanced wound care products from hospitals and clinicians in the United Kingdom, as more hospitals and clinical commissioning groups purchase and use our products. We are also seeing strong interest by Latin American clinicians in the benefits of our full range of products, as we begin to secure business under small competitive contracts in several countries in the region. Over the coming months we anticipate continued steady growth in Latin America as more countries like Mexico, Argentina and Chile contribute to our revenue growth. We are also making great progress in advancing our strategy to grow Covalon through acquisitions that will provide us a direct sales force to expand our business in the United States, in addition to our current internal efforts.

“We continue to prudently invest in new product development, establishing distribution channels in new markets, and expand our already talented Covalon team. A number of the new products we introduced last year in our expanded CovaWound advanced wound care line have begun to contribute to our revenue this year to date. We have prudently begun to increase headcount in selected areas of operations, sales and marketing and research and development compared to last year at this time.

“Our balance sheet remains very strong and we currently have over $5 million of cash in the bank. We recently announced that Covalon entered into a new acquisition and operating banking credit facility with HSBC Bank Canada that provides the Company with up to $17 million of new credit facilities that will allow Covalon to fund its acquisitions plans, which are proceeding well, in addition to its inventory and working capital needs as the Company grows. We believe this banking agreement is in the best interests of shareholders as it provides growth capital to Covalon without the need for the dilution resulting from the issuance of shares.”

Conference Call Scheduled

A conference call to discuss Covalon’s financial results will be held Tuesday August 28, 2018 at 9:00 a.m. EST. To participate in the call please dial:

Local/International: 647.689.4535
North American Toll-Free: 833.299.8117
Conference ID Code: 1897026

A recording of the call will be available by calling 855.859.2056 or 404.537.3406 and entering the conference ID code 1897026 from August 28th 2018 12:00pm EST to September 4th 2018 11:59pm EST.

About Covalon

Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.



View source version on businesswire.com: https://www.businesswire.com/news/home/20180828005403/en/

Source: Covalon Technologies Ltd.

Covalon Technologies Ltd.
Brian Pedlar, 905-568-8400 x 233
CEO, Covalon Technologies Ltd.
Email: [e-mail]
Toll free: 1-877-711-6055
www.covalon.com
Twitter: @covalon

[TheMonolith]

Covalon mentioned at their 2016 AGM some OEM relationships they have. They had Boston Scientific and J&J on that slide deck. Wonder what an easy way to post this would be. It's a saved PDF file on my computer.

[zoom22]

I didn't know that. Can you expand on that? That would be incredible.

Though the Saudi overreaction was a problem, I have been very impressed with COV's resilience. Anyone who bought those dips should be happy with today's proof that this company has the goods to keep on delivering around the world.

[TheMonolith]

BSX has been seen on their investor decks in the past. It makes a lot of sense that it is them.

Damn Sauid/Canada dispute! We'd be in double digits had that not happened.

[zoom22]

$8.5 million USD which at today's exchange rate is about $11.1 Cdn. So you also think it's a NEW global partner? Boston Scientific. Wow, that would be major!

[TheMonolith]

$8.5M, right? Notice they said productS!! I have a feeling it is with Boston Scientific and this could be monstrous!

[zoom22]

Awesome. This is another $10 Million Cdn. I think the Worldwide potential royalties are over and above that amount, right? Would this be a new global partner or an existing one? Seems to be a new one but unclear.

[TheMonolith]

Very positive news https://ottawacitizen.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/covalon-announces-receipt-of-first-payment-under-new-license-agreement/wcm/1a0dddde-8659-4f31-9f5f-f7f24cf340b3

[CPTMatt]

Noted and wow what a nice call you made on COV. I owned it a few times before I saw your post pounding the table. After continual disappointment at them gaining any sort of traction I didn't get back in.

Do you think this would make an ok risk adjusted entry point?

[dr_airtime]

US investors take note!

Canada doesn’t exist in US news cycle but google “saudi arabia canada” and you’ll see the diplomatic spat that has caused selloff.

There is some risk to Covalom here. Saudi cray cray!

This is blowing up Canadian news FYI

[dr_airtime]

I'm Canadian...

..Canada and Saudi Arabia not getting along.

I doubt this will effect Covalon's business which appears to be with "hospitals assocated with the Ministry of Health".

The MOF would appear to be a national authority.

Saudi Arabia looking to inflict pain on the Canadian government and I doubt they see a small private Canadian-listed company as the government.

this could finally prick the bubble for a few months and let me buy my shares back!

[TheMonolith]

Covalon hitting all-time highs. Looks like a quick run at $10 is imminent.

[TheMonolith]

Last time covalon was up here we were all wondering why and how it was doing that. This time around I'm not sure exactly what it is but I know why and feel it is justified.

[TheMonolith]

COV.V Chart - We have trend line at 6.70 now, and horizontal supports at roughly 7.50 and 8. Any consolidation above these levels I view as highly positive, and supportive of a more near term move to double-digit all-time highs. Sure would be nice to hear of major new development or something more to come from the special board meeting that was recently held.

[TheMonolith]

Their PreOp dressing I've felt is going to be a huge deal. Hey 3M, we'll sell you our shares for $1B.

[TheMonolith]

Covalon - The Medical Design Excellence Awards (MDEA), the premier awards program for the medtech industry, announced and recognized MediClear™ PreOp as the 2018 SILVER winner in the Over-the-Counter and Self-Care Devices category. Read more:

http://www.globenewswire.com/news-release/2018/06/12/1520702/0/en/The-20th-Annual-Medical-Design-Excellence-Awards-Recognize-Leading-Organizations-in-The-Medical-Technology-Industry.html

[TheMonolith]

Then again there might be heavy accumulation going on and new all-time highs are in order without a pullback.

I do expect double-digits by end of summer. Maybe 3M is putting together their buyout offer now?

[TheMonolith]

Sounds like you know how to proceed going forward. I slammed the open with market orders

I have some trend lines that are currently residing at 5.50 and 6.20. I would probably try around the 13 daily EMA for some? I would stagger some orders at 6.52, 13 ema, 6.26, etc.

Good luck! Agreed on the upside. Covalon is a tough stock to get orders executed.

[dr_airtime]

Anyone have thoughts on correction price?

I sold in mid 4's earlier in 2017 and missed the first run to $7. I literally had my buy orders in for the week to buy back my original Covalon in the 3's and then the latest PR dropped. Tried to buy in 5's right away that morning if I recall but no luck.

Thoughts on where I should try to pick back up within the next couple weeks from more technically oriented biotech traders? Maybe COV will correct to low 6's? 6.10 would be a 33% fib retracement of the big news per below for example.

Market cap here is only CAD 150mm so tons of upside. I'm not going to be too picky here. Lesson learned: pay the ask in the first hour the news dropped. I tried to underbid by .05 or .10 unfortunately. They news was huge....

[TheMonolith]

Covalon - this is just the beginning of the race to buy Covalon. I think they are now set to be worth more than $1B.

[TheMonolith]

The @UBMAdvMfg competition accepts entries worldwide from companies and individuals involved in the design, engineering, manufacture, or distribution of finished medical devices. This year, MediClear™ PreOp has been announced a finalist. https://t.co/gLBETJLyss

[TheMonolith]

Love Brian's confidence and when you are the exclusive contract like that, it is only logical we could use that as leverage for new contracts and awareness globally. Holding my shares tightly.

[zoom22]

Nice bit of extra info released today:

"As a result of the Company being exclusively awarded the contract to supply all Vascular Access dressings under the SGH contracts, all institutions that provide government-funded healthcare services to over 50 million people in the GCC will now be supplied with Covalon’s IV Clear™ as their antimicrobial IV dressing for the next three years."

This is a big step towards going global just as he predicted a few years back.

Zoom!

[TheMonolith]

I missed the last 10 minutes of the CC, and listened to the replay. I loved the way Brian answered questions and closed the CC. Couldn't be more bullish on the company. ME doctors becoming advocates for them in Europe at conferences. Clinicians and patients raving about their products. US and other regional sales starting to make a material difference. Phones ringing off the hook. No capital raise needed to service new contract. Up-list to TSE in the works.

I think Covalon is going to $15 CAN, possibly in the next few months, but probably won't take longer than about 12 months.

[TheMonolith]

Audio Replay Details for CC of $100M Contract

The Call-in Audio Replay for Covalon’s Conference Call Regarding its May 7, 2018 Announcement of a Major Sales Breakthrough will be available through May 22, 2018 Eastern Time (US & Canada) (UTC-05:00).
To listen to the replay:

Call 404.537.3406 or 855.859.2056
Enter conference ID 8694037

[TheMonolith]

Abe and Brian have a history of doing this. I would think if they can double or triple US sales from the last report and/or break open one more geographic area, and/or break open the preop or medical coating offering, then we'll see a very nice buyout offer.

My plan is to hold 80% of what I have left for a hopeful $15+.

Wouldn't be surprised if we see $10 by year end now. We'll have a more information in a few days.

[Traderfan]

I would also think that a buyout should be in the cards sooner or later if these products are that good apparently.

[TheMonolith]

Solid follow-through today after the major contract win. Momentum is on our side and this is now the easily the easiest long-term hold in my portfolio. Covalon buyout of $1B in 2020.

[TheMonolith]

Heck of a day! More to come, looking forward to the conference call in the morning.

[Traderfan]

This is some serious news indeed.

[TheMonolith]

HUGE NEWS!!! Covalon Announces Major Sales Breakthrough – Wins Contracts with an Estimated Value of $100 Million Over a Three-Year Period

Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, has been informed that it has won a series of competitive contracts in the Middle East with an estimated sales value of $100 million over a three-year period.

The series of competitive contracts awarded to Covalon includes the granting of approximately ten categories of products under the Executive Board of Health Ministers’ Council for Gulf Cooperation Council States (called “SGH”), as well as several contracts outside of the SGH in Saudi Arabia and other countries in the region that extend up to three years to supply Covalon’s highly-regarded IV Clear, ColActive Plus, and CovaWound products.

The majority of the contracts have been awarded to Covalon through highly competitive bidding processes that involved the clinical evaluation of each product. The series of winning contracts extend over a period of three years and management anticipates delivery of the products under the contracts to commence by the Company’s fiscal quarter ended December 31st 2018.

As more information becomes available, Covalon will provide further updates on the impact of each of these contract wins.

Brian Pedlar, Covalon’s Chief Executive Officer, commented, “By winning these highly sought-after competitions against some major medical companies, Covalon has proven that it has truly differentiated, life-saving medical technologies.

“These contracts transform Covalon into a significant healthcare player in the vascular access and wound care markets. We anticipate the contracts to deliver approximately $100 million of revenue to Covalon over the contractual periods of up to three years and provide Covalon with a very stable and predictable base of sales on which to continue to build our market presence internationally.

“We competed against very large and highly-respected medical companies for these contracts with our flagship products IV Clear, ColActive Plus, and several products in our CovaWound line. These contracts secure Covalon’s business in the Middle East and allow us to focus on introducing new products into the region as we deliver under these contracts over the next three years.”

Conference Call Scheduled

The Company has scheduled a conference call to be held Tuesday May 8th at 9:00 a.m. EDT to further discuss this major sales breakthrough. To participate in the call please dial:

Local / International: 647-689-4535
North American Toll-Free: 1-833-299-8117

About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.


View source version on businesswire.com: https://www.businesswire.com/news/home/20180507005390/en/

[zenvesting]

That response is intellectually lazy and doesn't even really warrant a response, he's comparing apples to bushel baskets for all I can tell.

He says "they have struggled with distribution domestically and abroad the product is also too expensive… Microbecare technology is better"

First off, has he seen Covalon's growth over the past year or so? I wouldn't call it a strugle, it's more like an inflection point, and Covalon has only just begun to hire sales and marketing people for the US market.

Secondly, the comparison to MicrobeCare really makes no sense based on a quick review of their website, which is apparently more effort than this person put into researching Covalon. Covalon makes advanced wound care products and coatings for implantable medical devices along with the other companies mentioned here, who have also been around for years: http://expressobserver.com/global-medical-device-coatings-market-2018-surmodics-inc-royal-dsm-biocoat-inc-coatings2go-llc-hydromer-inc-73146.html

From a brief review of MicrobeCare, it appears they make antimicrobial coatings for medical EQUIPMENT, like hospital beds and computer periphials. I do not see any evidence they are even involved in wound care products or implantable/interventional medical devices.

[TheMonolith]

I asked a poster on another board to give opinion on Covalon, since I saw they worked in the field. His response below:

Monolith covolan has been around for years..just silver and chg compounded into Transparent drapes, it is how they got aroun 3m patents on transparent drapes I am very familiar with them the technology is nothing new and they have struggled with distribution domestically and abroad the product is also too expensive… Microbecare technology is better


Any comments welcomed.

I believe they are doing much better with distribution in the U.S., and that's one of the key things I want to see on the next quarterly report.

[dr_airtime]

It does look like a good time to buy. No harm waiting for a few more weeks to see if she hits low $3.00s. $3.30 to $3.40 area is technically start of the parabolic move which is where SP was sitting before the big jump on Sep 21st which was the day they announced the Mediclear FDA clearance. If its come down this far, it makes sense to come down to there for a real bottom.

Not sure why this always happens but history does tend to repeat and retail investors to seem to panic. This will never change.

Those are all TSXV price references.

[TheMonolith]

I bought my first fresh shares here in many, many months. I feel like dumb money is panicking, so we'll see if I was smart to buy the dip.

[TheMonolith]

Hype part of the run has been eliminated, and now back to where we were before Saudi renewal.

Maybe we will hold in and around $4 from here until something with more zing comes across the wire.

My feeling is this year will lay the foundation for an amazing 2019. Momentum in ME, US, Latin America, UK, China, along with hopefully some traction in the new verticals of preop and coatings.

We are 1/10th of the way to the stated goal.

[dr_airtime]

I am the opposite.

Never stopped following but thought it was wise to sell most at $4.50 so missed the run up.

Agree the future looks bright to time to buy back the position near to same price.

C'est la vie.

[TheMonolith]

Definitely. Covalon remains my second largest position, and they are all "free" shares.

I'd buy back more shares if the opportunity presents itself in the way I'd like to see it.

Great to see an almost unlimited buyer come in and defend a decline from going below 4.50. I would have viewed a break below as potentially troubling.

[zenvesting]

Expanding product line, expanding geographic reach, expanding sales and marketing efforts....and the number of shares issued is staying firm at under 22 million. I'm glad to sit and wait for this company's expansion plans to continie to bear fruit.

This is an investment grade microcap company, unlike that other company we are in that just gave away 67% ownership at a discount to market at $0.10, which isn't even enoigh money for them to advance one of their drug candidates through Phase I..
..that is a gamble.

[TheMonolith]

Wish I had taken even more off at $8, but glad I did strip down to my true longer term position during that run.

I would not like to see Covalon below $4.50.

[zoom22]

I totally agree with the Tip of the Iceberg metaphor, as can be seen today. A new product innovation award from Frost & Sullivan for their Mediclear PreOp product. I will keep holding because I increasingly see this becoming a billion dollar company.

[TheMonolith]

It was just wild with all the volume that exchanged hands over a short stretch. Very nice too see it settling in here, so far.

Nice finds!

Waiting patiently for that first licensing deal.

[zenvesting]

COV was definitely ahead of itself based on what was/is publicly known, but I think this company is like an iceberg with a lot of technology hidden below the surface, or "in the lab" as Brian likes to say, so I only parted with a little during that run to $8 as well as I have a long-term holding here I believe could be worth much more if the company signs a licensing agreement for their coating technology or announces advancement of one of their other technologies we may not even know exists.

As far as sales growth goes, Brian mentioned the possibility of expanding the number of SKUs under the Saudi contracts. The company has also been making investments in the UK and recently got CovaWound products added to the Scottish Drug Tariff program in February 2018:
http://www.isdscotland.org/Health-Topics/Prescribing-and-Medicines/Scottish-Drug-Tariff/Amendments/Docs/2018/2018-02-SDT-AMD-v3.pdf?05:34:36

I also just found their Iranian distributor has a nice informative web presence:
http://m-s-f.ir/%D9%85%D9%82%D8%A7%D9%84%D8%A7%D8%AA-%D8%A7%D9%86%DA%AF%D9%84%DB%8C%D8%B3%DB%8C/?lang=en

It doesn't take much imagination to see there's still lots of room for growth here, it's just a matter of whether payors will be willing to pay for higher quality products.

[TheMonolith]

Can Covalon turn back up and rally from here? Looks like there's a chance. Otherwise, I would love to see it continue to stay above $5, and staying above $5.50 is a great thing.

Covalon's growth in the US is exciting. Sounds like the acquisition target is in the US. to help accelerate growth even more.

I can see 2019 being an amazing year for Covalon after another great foundation laying year in 2018 in multiple countries and SKU's.

I'm personally down to my "free" long term shares and can be very patient. Covalon has probably been my most patient hold in my 20+ years of investing.

[TheMonolith]

Outstanding market action for Covalon!

[TheMonolith]

We'll see if we can settle in here, but looks really positive that so far the volume we've seen the past 9 days and to be at $5.70 is damn impressive. The past 9 days we've seen money flowing through this company like NEVER before.

[TheMonolith]

So far we have bounced(excellent volume bar) nicely exactly off the uptrend I have(guess I should have bought some back), and I'd prefer to see us stick between 5 and 5.40 going forward as a minimum, what I'd like to see going forward.

We have alleviated some of the very overbought conditions now.

[TheMonolith]

That was an interesting close. I hope it wasn't an appeasing comment, and more of a, can't wait to share comment. I emailed Brian in December, and he said he couldn't wait to update the shareholders on the year ahead. I thought we'd see something like we did to start 2017, but we never did. So I wonder if there is something really close to commencing. The stock certainly traded like there was.

It's kind of funny that a stock and company doing this well needs a pep talk, but it felt a little that way the past two calls.

I think we all would love for that huge breakthrough contract/deal. The growth has been great, the foundation being built is fantastic, but where is the sonic boom like the ME contract?

It'll come.

Over the past two weeks I have stripped my position down to what I want to hold for the potential 200-400% gain left here over the longer term. I don't anticipate taking anything off the table now until over $12+ CAN.