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RWLK just spiked big time
I don't know why that happened. I sure didn't like it because I have 5000 shares of Rewalk at $1.05. I do still have some EKSO but not as much as I would like. (Got caught out while waiting for re-entry point and settled for some at 1.51 and 1.61)
Just yesterday I was thinking that RWLK was ready for an oversold rally, I posted that on that board this AM and as I finished posting I saw the jump in pre-market. Then I saw the news about the VA ammendment. I see that as a possitive, but, I think people are over-reacting to some of the headlines being used, without reading the substance of the announcement.
As I type RWLK is making another attempt at staying above $1.00 (which I believe has now become resistance). We'll see what happens. The critical PPS is $ 1.10. If it breaks that then it should run. This could be like the EKSO jump on the Ford news, with everyone piling in before coming back to reality.
I think people need to be careful reading too much into this news. RWLK is spinning it (without actually saying it) to sound like they are being granted exclusive access. From my reading, it really only states that with the VA revision additional vets will gain access to exoskeletons in general. That is not as big a deal as if they grant access to the ReStore product
I have been in EKSO for a few years, went through some tough times but ended up making a good chunk (for me anyway). I was out for a bit waiting for re-entry point but it never came so I settled for getting back in at 1.51 and 1.61 (still in) and took the rest of the profit and bought 5000 RWLK. It wasn't looking good there for a while, glad to see it recover a bit.
I believe in this technology and it's benefits for several reasons.
The main goal is to not get caught out of the market on either of these stocks. Almost got caught with EKSO.
That may be a lot of vets but not that many that need or qualify for the product. Don't get me wrong, that news helps. I just think this is still just an oversold rally.
Also, that news will also help competing companies such as EKSO.
I own shares of both companies.
Looks like that rally has come and gone in pre-market...lol...beginning to fade...Let's see what today's regular session thinks.
I saw there is a bit a news (not huge news) about the VA
This reads differently...it doesn't have the RWLK slant to it in the first few paragraphs. I believe this would benefit EKSO.
https://www.streetinsider.com/Corporate+News/ReWalk+Robotics+%28RWLK%29+Says+U.S.+Department+of+Veterans+Affairs+Expanded+Access+to+its+Exoskeleton/14418057.html
Although the following was put out by RWLK, based on the wording would it not also benefit EKSO.
I realized the yellow headline says: "U.S. Department of Veterans Affairs Expands Access to ReWalk Exoskeletons for Paralyzed Veterans with Revised National Policy", but it seems like the overall VA policy was updated and I assume it would pertain to EKSO and other companies.
https://www.stockme.info/news/2018/07/20/us-department-of-veterans-affairs-expands-access-to-rewalk-exoskeletons-for-paralyzed-veterans-with-revised-national-policy
Looking at the RSI14 I am expecting an oversold rally at this point.
Looks like RWLK is concerned about those things as well, based on these lines in the release about the extention of the Wyss Institute Agreement.
The total investment by ReWalk remains unchanged and will be spread out over an extra year, which is expected to benefit the Company’s cash flow.
The Company also separately noted that the Timwell/RealCan agreement will provide additional cash to support R&D programs as well as fund current operations. The Company is taking steps to form a joint venture and finalize definitive license and supply agreements in order to close the second tranche.
Looks like the Confidential Treatment order spooked investors. That looks to be when PPS took this downward trend. I think the main concern is "Does RWLK have enough money to continue until it meets requirements to receive additional Timwell tranche?" Also, "Will that money last until their Restore product gains CE and FDA clearance and goes into production? Will those sales be enough to continue?" "Is there a R/S in RWLK's future in order to make it until all of the above comes through?"
Looking back at the 52 week chart, 2.00 is a strong resistance point. If we can close above 2.00 I think we have a chance for breakout, but without some type of news I think we return back to 1.70+ area. I do think the days of 1.40-1.60 are in the past and not to be revisited.
Although this is for the Rewalk product, it is good news for EKSO and other medical exoskeleton companies. Opening doors to wider acceptance and insurance coverage.
https://www.streetinsider.com/Corporate+News/ReWalk+Robotics+%28RWLK%29+Says+Personal+6.0+Exoskeleton+Added+to+the+Official+German+List+of+Medical+Aids/14298379.html
Perfect Hire of Australia uses the EKSO Zero G arm for construction projects. I assume it was supplied through Safety Mits
Safety Mits (used to be Sigma Ergonomics)
That's OK with me, it gives me another possible chance to add shares.
See also Form DEF 14A...Proposal #2....then go to page #35...have fun reading!
From page 78 of the 10-K filed in 13 Mar of '18...Look at the last line
On October 30, 2017, the Board approved an amendment to the Company’s Articles of Incorporation to increase the number of shares of our common stock by 70,000 shares to 141,429 shares (the “Authorized Capital Amendment”), subject to the approval of such amendment by the stockholders. On December 21, 2017, a special meeting of the stockholders was convened (the “December Special Meeting”). In the definitive proxy statement dated November 24, 2017 filed by us with the SEC in respect of the December Special Meeting (the “November Proxy Statement”), the Board solicited the vote of the stockholders in favor of the Authorized Capital Amendment. The November Proxy Statement stated that broker non-votes in respect of the Authorized Capital Amendment would be counted as votes against the amendment. However, under relevant stock exchange rules, brokers had the discretionary authority to vote any shares held in their name on behalf of a beneficial owner (“Broker Shares”), and in respect of which the broker did not receive voting instruction from the beneficial owner, in favor of the Authorized Capital Amendment. As such, brokers voted approximately 17,628 Broker Shares, in respect of which the brokers had not received voting instructions from the beneficial owners of such shares, in favor of the Authorized Capital Amendment at the December Special Meeting. Accordingly, after taking into account such Broker Shares, the Authorized Capital Amendment was approved by the stockholders at the December Special Meeting. However, as disclosed in more detail under Item 3 to this Annual Report on Form 10-K, some stockholders of the Company have claimed that the disclosure in the November Proxy Statement in connection with the effect on the Authorized Capital Amendment of beneficial owners not providing voting instructions in respect of their Broker Shares was incorrect. Accordingly, stockholders will be asked to vote again on the Authorized Capital Amendment at our 2018 Annual Meeting of Shareholders. Further information about such vote will be provided in the Company’s Proxy Statement relating to its 2018 Annual Meeting of Shareholders, to be filed with the SEC within 120 days of December 31, 2017.
I believe this meeting is to re-vote on the proposals of a previous meeting. I believe it is to satisfy the lawsuits that were brought against the company a while back.
I believe I read something about it in a previous filing. It was a long document and I don't feel like reading through everything again right now.
I'll try to find one of my previous posts that I think I mentioned it in.
If you call in at 1.51 and 1.61 and the stock now at 1.89-1.95 punishment...yeah, I am.
Thanks for the links and info, gives me some more leads to chase down and do more research. Like I said in the other post, the analysts should be finding this info and asking the questions that we are. Also EKSO should be posting this stuff on their website and on their FB page.
A link to Safety Mits...When you go to the page hover over the products tab and then look at the top 4, all EKSO related...I will check into who Safety Mits has ongoing relationships with in regards to those products and how extnsive they are.
https://safetymits.com/
Thank you for yor reply. Note the date and who supplied it. Since then Sigma has dissolved and is now Safety Mits. EKSO does have a relationship with Safety Mits. I still would like to find something more current as to the relationship with Gammon since I found a more recent article where Gammon is working with Panasonic subsidiary AtounZero Inc. and Shun Hing Systems Integration Co. Ltd.(for exoskelton suit) That does not necessarily mean Gammon isn't working with Safety Mits and the Zero G, I would just like recent info.
As I said in a previous post, much of the info out there is dated and may or may not be ongoing relationships. I guess all we can do is keep digging.
Although I do think things are happening, I would not make definite statements on the stock price moving. I think the stocks recent movement may be a reflection of uncertainty and speculation into these different reports. Some investors and insiders may have a clearer picture than others. It would be nice to see EKSO come out and list the current relationships with other companies, whether in trials, testing, pilot or are long term relationships. That is what should be asked by the analysts that cover the stock and participate in the conference calls.
I do have a request in to EKSO to clarify some of the points I brought up.
Do you have links to the info you have sighted because everything I find referencing those are either vague or out of date.
Found this about Gammon...https://constructible.trimble.com/construction-industry/exoskeletons-for-construction-workers-are-marching-on-site
For example, in November, Gammon, a Hong Kong construction company, announced it purchased 10 Assist Suit Exoskeletons. Gammon will be conducting trials of the suit on its construction site for the developers, Panasonic subsidiary Atoun Inc. and Shun Hing Systems Integration Co. Ltd. The construction company will give feedback to developers with the intent to help further improve construction safety, efficiency, and productivity.
As you can read above, it says nothing about EKSO Bionics and Gammon
Follow up to my post in reference to Sigma Ergonomics... The follow is a reply from EKSO to my question to them..."Sigma has been dissolved and is now operating by the name of Safety Mits. Ekso Bionics does have a relationship with Safety Mits as they are distributor for us in Australia"
@ Stockholm...I saw that you posted about Sigma Ergonomics on ST...I had seen that some time ago and I was looking into that several time since. The most recent info/activity I can find is 2 years old so I question if there is anything still going on in that regard.
Like so many other things I find on EKSO and it's past deals and relationships, the trail goes cold and there is no new info for years and there is no one asking the company what ever happened.
From 2017
HONG Kong headquartered Gammon
Construction recently invested in two
sets of “zero-gravity arms” (Zero G Tool
Arms) from Australia’s Sigma Ergonomics
in an effort to reduce the workload of its
employees.
Manufactured by US company Ekso
Bionics, the innovative mounted exoskeletal
system functions without the need for power,
allowing workers to comfortably operate
heavy tools including impact drills, chipping
hammers and grinders for extended periods.
With the zero-gravity arms shouldering
the weight of the equipment, workers are
not affected by the strain and fatigue caused
by repetitive tasks such as drilling, tiling,
chipping and grinding.
The Ekso Bionics Aerial System, to which
the Zero G system is mounted, is designed
to increase safety and productivity while
working from an elevated work platform
(EWP).
As well as eliminating the risk of dropping
heavy tools from heights, the system
significantly reduces the risk of injury from
heavy tool usage and awkward body position.
In a recent direct comparison with an
Access Work Platform (AWP) at a height
services installation, the Zero G system
improved the productivity of the drilling
work task by over 50% while reducing worker
fatigue and improving safety and efficiency.
Tony Brooks, a director of Sigma
Ergonomics, said that Ekso Bionics has spent
several years designing and perfecting a
range of ergonomic tool arms which are used
to weightlessly manoeuvre heavy tools.
“Already proven across the world, the arms
rely on spring tension and an innovative
design to balance the weight of tools used in
drilling, sanding, riveting and many other
applications.
“The Ekso Bionics Zero G arms are
designed to hold tool payloads of up to 19kg
and fully balance the weight thus allowing
the user to freely, safely and accurately
manoeuvre the load in any direction without
injury or fatigue.”
Mr Brooks said the system requires less
than 30 minutes of operator training to
achieve competency and that the ergonomic
tool arms have a variety of mounting options
to suit the application including portable
gantries, carts, jib arms and linear rails.
“As well, these systems require very
little maintenance, no expensive inputs
like electricity or compressed air, and have
already been successfully used in a variety
of industries from aerospace and defence to
automotive manufacturing.
“With Ekso Bionics’ innovative
exoskeleton technology, workers can now
complete heavy hand tool tasks with less
fatigue, better workmanship and fewer
workplace injuries. Plus companies often
enjoy a high ROI, sometimes less than a year,
making the decision to invest that much
easier,” Mr Brooks said.
I too will be looking to add if we drop to $1.40. I had, for a bit too long, held on to the notion that we might drop to the $1.00-1.20 level, but I don't see us dropping back there again. Just too much support. I missed a great chance to reload at that dip to $1.30 a little while back.
In one of the filings they mentioned the possible reasons for the proposed issuance of shares. One of them was acquisitions. I had sent a letter to EKSO asking about that possiblity (without specific details), but I received no reply. I won't say that is their fault, I may not have sent it to the correct person/department or in the correct format.
I would like to see someone out front that these questions can be raised to in an informal way as they arise.
With this technology still (IMO) in it's infancy I am sure many companies will come and go or be aquired my larger and deeper pocketed companies. I don't see anything that says EKSO will disappear in the very near future.
The fact that there are so many companies is why I decided to take a position in another exoskeleton company as well. I am also looking into a another potential investment where I can create a basket of individual stocks within the industry in order to diversify my exposure. Not an ETF or mutual fund, I get to pick the stocks in my basket.
'CIMA7'...Have you seen this? It is from their web site, under the About Us tab...
https://eksobionics.com/about/faqs/
Sorry I didn't get back to you sooner, I see 'abira' answered. I am not trying to be an alarmistist, I am just curious as to who is now "the public face" of EKSO. It is always good to have someone in the publics view so that information is getting out there and people can gain some confidence that the business is just some shadow entity.
Just because I have questions doesn't mean I don't believe in the technology or the products. The answers to the questions could drastically change my opinion on the company but until I get those answers there is no reason to not take advantage of dips in the share price. Now, if the stock had quickly dropped to or below $1.00 I would not be buying shares. I have said before, if this stock drops much below $ 1.00 I would be out and never come back. It is just my belief that if something triggers that type of move, there would be something very wrong with the company.
I would just like to know if these changes are because Mr. Wang/Puissance feel that progress is not being made fast enough or these people are not performing or is this more serious, like a clash over direction that the company has been and should be heading.
I don't see much of a down side investing some money at these levels. It seems to have demonstrated that there is very solid support at $1.40 and lighter support at $1.50 or $1.60. Also , it has demonstrated that it can move very quickly on a whispered hint of good news. I believe $ 1.40-$ 1.60 is a good range to buy in.
Before he announced that he was leaving Mr. Max Scheder-Bieschin hinted that he believed more Ekso Vest deals in their future.
I am just curious to know who we will see taking the lead in publicly discussing the products and the company now that everyone who had been in that role is gone. I was putting it out there for anyone who is in a position to find out some of the answer.s to see what they could find.