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Can anyone on this board provide info as to how many MetalFAB1 printers Additive Industries sold in 2019 or prior years?
There is a report out today that Authentise and Addiguru have collaborated on an in-process monitoring system for AM.
Is anyone on this board conversant with these companies and the status of their “system?”
Thank you. That would seemingly indicate there is another OEM announcement soon forthcoming.
The 10-Q for the 2Q which SGLB filed on July 23 stated the following on page 13:
“On July 15, 2020, we signed a global agreement with a major printer manufacturer headquartered in Europe who will designate their printers as PrintRite3D Ready, allowing us to leverage their sales force of over 800 people who will actively promote our technology as their preferred monitoring solution.”
Was this referring to today’s announcement with Additive Industries and their MetalFAB1 printer?
Does AI have a sales force of “over 800 people?”
Or, does this infer an announcement with another OEM?
Can anyone on this board provide any info as to how many MetalFAB1 printers Additive Industries sold in 2019? Prior to 2019?
Thank you. Appreciate your input.
I hope you are right but what in the PR leads you to think that sales to existing customers are already “in the bag?”
I’m not contesting your conclusion. I am a long time bag holder and would just like to have your point of view as to why you think sales are soon to be announced
GHS’ purchase of $5M of ITOX common stock will be at a 20% discount.
At the current share price that would mean more that an additional 500 million shares hitting the market (2 1/2 times the current authorized shares) at a significantly discounted price, diluting the value of other shareholders’ stake.
Hope you bear in mind that all the alleged relationships that ITOX has with Fortune 500 and other companies resulted in a meager $15,600 in revenues for the 1Q.
The 10-Q which ITOX filed on August 19 also states that current liabilities ($2,019,829) are 37.6 greater than current assets ($53,786).
Good luck. It may be hard for a company to stay in business at that rate.
Yes, very encouraging responses from Mark. He does much better on the Q and A than on the scripted presentation.
Correction: The 8-k announcing the agreement between Aingura and ITOX was filed on March 19, 2020 - not March 29. Inadvertent typo in my earlier post.
Re. Your fact check.
Due diligence would reveal “certificates” and “degrees” are not the same.
A certificate for attending or participating in a program or a seminar should not be confused or equated with attaining a college degree.
Fact: ITOX’s CEO was not educated at MIT and does not hold a degree from that institution.
The “collaboration with Aingura is spelled out in the 8-k which ITOX filed with the SEC on March 29,2020.
Due diligence reveals that Item 1.01 of the 8-k states that the agreement authorizes ITOX to sell Aingura’s services and products and specifically states that Aingura “advanced” $46,500 to ITOX.
The “fact check” by Timing101 actually provides more “fake news.”
Not just hype but misrepresentation of the facts.
Timing states that Cliff Emmons was “MIT educated.” Fact is Emmons’ own bio says he got his undergraduate degree at the University of New Haven and then a Masters at University of Bridgeport. Neither should be confused with MIT.
And according to SEC documents, the collaboration with Aingura is a reciprocal agreement that spells out conditions and commissions if either entity sells the other’s products. Basically each acts as a non-exclusive sales rep for the other. As part of the arrangement, Aingura advanced ITOX a very nominal sum (as I recall it was something like $50,000) in order for ITOX to meet some current liabilities.
Be careful. There is a lot of unfounded hype on this board.
Why would you want this when they had only $15,000 in revenues for the 1Q, no full time employees, have defaulted on loan agreements and have been late in filing quarterly reports for 1Q and now 2Q?
Good question. I do not know why the ITOX CEO left Medtronic.
In going through the SEC filings, it is also interesting to note that the 3 ITOX officers are described as part-time employees with an hourly wage and that they have had to defer their salaries.
It’s hard to see how part-time employees, who may have other work commitments and responsibilities, are going to be able to “realize ongoing revenues” for ITOX.
As I’ve stated before, I sold my ITOX shares and would move on if it were not for the outlandish hype perpetuated by some on this board which is so misleading and provides such a disservice to others.
I think you are too generous to ITOX. The 10-Q for the 1Q of 2020 (which they finally got around to filing 2 1/2 months late) states that sales revenue for the 3 months ending March 31 was $15,600.
I’ll be surprised if the company isn’t defunct by the end of the year. There does not appear to be anything tangible here. Just a lot of hype on the fact that the CEO used to be a VP (one of many) at Medtronic.
Thanks. Doesn’t sound like high tech. Nor does $15,000 in revenues for 3 months
You might also want to take a look at the finally released financials for the 1Q (almost all of which was pre-Covid-19) which shows that ITOX’s total revenue from all these companies they allegedly serve was $15,000.
And their current liabilities are many multiples greater than their almost non-existent current assets.
As the auditors expressed, there has to be doubt about ITOX’s ability to remain a going concern.
I sold my position some time ago and wouldn’t comment on any of this if it weren’t for the outlandish claims by posters on this board that are so misleading.
I just listened again to Mark’s presentation on the August 11 webinar.
Mark states in this presentation that every 5% of the market that Sigma captures will result in 200 million dollars of revenue for the company.
I thought previously Mark (and John Rice before him) had said that Sigma would realize 100 million dollars in revenue for every 5% of the market they captured.
Has the projected size of the market doubled or has Sigma changed its pricing model?
This is a significant change in Sigma’s forecast. I would be interested in how others on this board interpret the new projection.
I was not able to listen to the webinar.
It would be greatly appreciated if someone could provide a brief summary as to what they thought of the presentation.
Thank you
Yes, the two participants are 8 time zones apart
It’s not after the market close. It’s on now
I think the webinar with GKN is tomorrow - August 6
Looks like the company couldn’t come up with $70,000 to pay off the overdue debt.
So instead, using the present share price, they agree to issue, what could be up to 500,000,000 million new shares at a 20% discount.
Do you think this may dilute the present shareholders ??
Someone posted the Dawson James research report yesterday.
Apparently it has now been removed.
I thought it was confounding in several respects.
1. One of the assumptions for their model is “We assume just 50 metal printers today but see that figure rising to over 4,000 by 2030.”
Those numbers don’t come close to the figures and projections we have seen from Wohlers and others.
2. In their projections of revenue for Sigma, Dawson James uses a “price tag of $375,000 per printer.”
This too does not appear to correlate with the pricing in Sigma’s presentations.
3. The Dawson James computations don’t seem to jive in some of their exhibits.
For example, in Exhibit 6 the top two lines (the number of printers and the growth rate) for 2028-29-30 don’t compute properly.
I would be interested in any comments or enlightenment from others on this board that may have read the report. Thank you.
Good luck. Hope you are ultimately rewarded for your patience and conviction.
Are you still not hung up on the fact they haven’t filed. The 10-Q was due in mid-May - 2 1/2 months ago.
According to the info they have made public, the company
has no cash and no full-time employees. It has not announced any business developments that would give investors plausible reason to be encouraged or optimistic about its future.
And it appears many investors are now bailing.
When are they going to issue the 10-Q for the 1Q ? Other public companies are releasing reports for 2Q, yet a small company like ITOX can’t seem to find the money to pay their public accountants for what is a relatively simple report that was due 2 months ago.
The CEO came on board in June 2018. The stock at that time was more than $2.00 a share. Since then it has lost 99 percent of its value.
‘Nuff said.
This is all speculative of course, but one might conclude that, if management thought the 10-q would not be well received, they would file later in the hopes that something might occur to offset the negative quarterly report.
As it is, they have chosen to file 3 weeks earlier than necessary. To my recollection, that is the earliest they have ever reported.
I hope they are anxious because they want to share positive news.
Incidentally, the last two 10-q were also released on a Thursday. As you say, it does give the market the weekend to absorb - whether good or bad.
I was just answering the question from Ronaldera2 as to whether it was dilution. To me, it obviously is.
I think your advice to Ronaldera2 and other investors is fair and well intentioned.
To set the record straight, I accumulated shares in ITOX from April 28 through May 28 at prices ranging from .022 down to .0085. I sold my entire position by June 17 and realized a small gain.
I am not upset about a loss. I didn’t have one. I am upset though about the unsubstantiated claims some on this board make touting or pumping ITOX and misleading or duping other investors.
As you said, investors best do their own research and read the SEC filings from the company
When the number of outstanding shares increases from about 45 million at the end of CY 2019 to about 140 million, that is obviously dilution.
I had a substantial number of shares and sold after studying 10-K
and the 8-k revealing that the employees had to forego or defer their salaries. The substantial increase in the number of shares issued and the continual delay in filing earnings reports caused me to quickly liquidate all of my holdings in ITOX.
I continue to follow and to post because I am intrigued and interested to see how it ends up for all those who are touting the stock.
You also omitted the fact that they have issued about 100,000,000 new shares this year. Doesn’t that constitute dilution?
You left out the part about defaulting on loan agreements and not being able to meet payroll and the fact that the work force consists of 5 part-time employees on hourly wage
That’s a surprise. Early reporting. 10-Q not due until August 15.
Silver, we always appreciate and value your views. I was wondering if you are now concerned that Velo3D may be one of those “little skunk-like companies” that has come up with a superior IPQA product.
I am not aware of any other public company that has not yet filed for 1Q 2020.