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Gold,
Whats your take on whether Dominon is substantially equivalent to current devices. If the 510K process is meant for expediting devices to market but is truley novel then shoulnt they have filed a PMA?
good point...I think the stink of the Money TV is getting on Dean. I wish they would distance themselves from that crew.
Not condoning the sweeper article but why didn't Imgg file the more rigorous application if there is no real similar equivalence?
So much for deluge of PR that was suppose to hit from Thanksgiving weekend on...It's shameless these guys don;t release some status report.
One that has a 2500% return on an initial investment and is letting 10% ride. I didn't say Imgg will never be worth what it's current PPS reflects...only that I feel its overvalued at this moment. If they make these units themselves and grow the business it can become a real enterprise and I will be along for the long ride with my measly 10,000 shares.
Sorry the CEO need to be well informed about how much money they are bleeding on a monthly basis.
I think he knows...he just didn't want to address it.
You can learn allot about a company and leader by the way he answers a question. Dodging the judgments question can be expected but justifying a bloated expense account is another.
BTW I am thrilled that this has reach the level it has...I had a target price of .75 and I think IMGG as well exceeded all expectations. The valuation at this level simply doesn't make sense even though I am still long on the balance of my holdings.
SG&A is pretty standard acronym I can't imagine him not knowing this term.
HMC,
Thanks for asking the tough questions.
Dean doesn't understand SG&A expenses??? Well the average selling general and administrative expenses(read overhead)is 188K per month. Average for the last 3 years is 208K per month. This has exceeded gross sales since 2006. They have 9 employee's A 10,000 sq ft building at the high would rent for 10-12K a month. These number just don't add up as to support Dean claim that the refurb business is profitable.
I don';t get why he won't tell us about the judgments. This is a material event.
That had to be shown as viable from the get go otherwise we wouldn't be here. If the images are somehow distorted during imaging they would see that years ago. I guess we will just wait and see..
<<The critical part of this system is the software and the revolutionary way in which it manipulates the imaging data to produce the 3D real time construct>>
OK I understand that...so why would they be diving into the code if the results are amazing? If the components are off the shelf and they turn on and off with some establish failsafe control...why would the fda care about the way the images are assembled? If it was strictly a software imaging issue this would clear in months not years. There has to be a link between the machine control and the software that is under scrutiny.
No fear...just trying to ascertain why FDA has taken such an inordinate amount of time to clear this. If the device is substantially similar to existing "off the shelf" components of a fluoroscope emitter/detector then I don;t get the length of time.
Will sponge get banned from OTC this week?
Does anybody have a tally on the longest FDA 510K on the books? I went through the clearances on FDA site and the most I saw was 12 months from filing date. Most were 6 months or less.
Why are SG&A expensives so high relative to the size of his company. Do you believe the company will be dilluted 10% or more in the next 6-12 months? Why isnt the c=arm refurb buisness profitable? How much liability does the corp owe for lawsuits inregards to the fire and judgments?
Sonoma-I have read everything printed on Imgg. Thanks
You can't turn on production with a light switch nor build a distribution network. They will need to prove they can make these unit in mass with a high QC. Dean has said they will "hit the road running" but the real story will be when/if orders hit the books and production ramps up. It could easily be 3 months or more before the first booked orders go out the door. How and when that translates into your lofty 2 million dollar monthly profit I don't know. It could take a while.
They must have custom components as well so a 2 year time frame is not exactly out of the question if they want to be manufacturer. They would need to set up additional office for support, get field reps trained up etc. If they need a new building that might take 6 month alone to retro fit...yes I knows lots of open space...but its still takes time
I think this is more puffery than actual action. There SG&A cost have been pretty much the same quarter over quarter. That doesn't indicate a company ramping up for the production of a high device such as Dominion.
If he goes it alone it will take time to line up the components and get the relationships inline. Also he needs to build a sales and servicing force to get the job done. This is no easy task especially given the size of this company. Many here think DOminion is a lego set
I don't think Dean wants to be a manufacturer. Too difficult in this environment. If he is ready to churn our units thats great...logic says he has not committed to the tooling side of this until the go ahead is given. I would say if FDA took 2+ years the ramp will take as long.
Lets hope he is laying the ground work for BIGBOY to buy them. Forget about making these units.Let someone with the economies of scale make them.
If we get the approval by them you get one.
IMHO I don't think FDA will NOT act before or during the show as it would look too suspicious. They will wait until the shows over and then give an answer one way or the other. It also not unlikely that Imgg needs some further refinement of a feature that none of us have knowledge. The FDA could require more information and take a longer time frame then what all of us believed is imminent.
I saw the Spongetech boxing ring yesterday on ShowTime SHowBox. Maybe they can infuse coagulant into sponges and stop the bleeding MICK!
Isnt there a new product out called a switch?
DVis has a patient inside...LOL thats a a manquin I quess the boys over at imgg are not stripping down for the shot themselves.
Really what grinds me is that people on this board get all bent if even though someone puts valid questions fourth yet people can blatantly pump this stock into the stratosphere while everyone cheers them on. Just because your long doesn't mean you are a cheer leader. All these posts about how the FDA news today tomorrow or after midnight do more damage then any comments about Don B or dillution or capacity whatever.
Yeah we have been hearing that imminent word allot.
last trade was 1.24
I would concur....we will see how fat my liquor cabinent gets
I think this article will lesson the chance we will get an answer before the show. I don;t know if th FDA suits even reads that stuff but all it takes in one wild hair...
Bloomburg reprinted it so its not complete hype.. Besides Don has shady past you can't deny that. I think he cheapens the brand. Sorry to say.
I dunno the BB article will get allot of hits. People these days can;t stand hucksters and there will be blow back. Might be a buying opportunity. I personally think the PREFDA move has been made. We will see
I'm gonna restock!
The sweeper article does bring in one good point. IF Old Don B has some skeletons in the closet doesnt some that stink rub off?. I have always hated those spots even though Dean made it clear that it was good source of generating new shareholders.
Hawkeye
I'm down to just sticks and stems as I took 90% off at .45, .95 and 1.65. Been an insane ride. I think the most dramatic I have ever seen. IMHO 75% of the move has been made and far exceeds my .75 target. I sleep well at night on his one. I hope you took some off as well.
OK l Hefe and Hawkeye vs Sano
Terms 1 bottle of liquor to each if I am wrong. I say no fda decision before the last day of the show. <<<<<SHAKE>>>>>
Put your liqour where your mouth is!
Ok it's a bet
I hold 10K- shares its all the houses money so I'm long with u. If things start to implode I may sell 1/2 the position(.75 if thats ok with you :-0
I like Seagrams VO or a good patron...Anybody else ?