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Check EDGAR for Avita, financials are posted there. Will be SEC filings starting this quarter. But they are in EDGAR. You can also find them under AVH on the ASX.
Just an aside, Avita's revenue increase for last quarter matched the average of the 285 S&P 500 companies that have reported to date. Just saying.
True. But most reverse splits are done to maintain a listing or simply boost the share price. Not the case here and a drop based on that perception is unfounded but is what it is. Sales were down in April, the worst of the outbreak. They were up in May and June. Nothing fundamental has changed with this company.
Still in the ASX 200, was removed from the All Australian ASX 200. The entire drop in Australia has been on average to lower than average volume. So mainly retail selling. Any index selling happened 6 weeks ago. We need more US buyers.
Understand that there was going to be a reverse split involved with the redomicile no matter what. The AVH shares could have been split at 20, 50,100 or pick a number. Otherwise we would be looking at 2.1 billion shares and a penny stock. Can't happen if you want a listing on any major US exchange. The fact that retail investors can't grasp that simple fact isn't the company's fault, it was explained in the original announcement and in the scheme package. This was not the average RS. It will ultimately settle out.
Jugs, AVH closed at 6.70 last night, RCEL equivalent of 23.22, so quite possible you'll get it.
I've seen CEOs that were investor relations driven. Usually entails more than 2 PRs a quarter. Using company resources to develop multiple revenue streams as quickly as possible would indicate to me someone with a longer term approach to building a company. Like I said, should have asked for his reasoning, may have been elucidating.
As far as redomicile pretty sure the answer to when on Hot Copper would be "never". Pretty parochial thinking.
Question remains, where are resources better put to use. You might have asked for his reasoning instead of drawing your own conclusions. Opportunity missed.
So all good things are mere serendipity and any perceived missteps are terrible judgement.
One other thing Keep. Did you ascertain his reasons for not attacking EU sales until the other trials are complete?
Just a guess on my part, but perhaps he considers bringing on more income streams through new application approvals is a better use of company funds than chasing what would likely be low margin revenue for burns in Europe. Just a guess, as a shareholder interested in the best use of capital on hand.
Keep, thanks for letting me know I was correct. Be more helpful if you'd let my wife know I was right about something.
Perhaps you could be more specific on the path not taken?
Was it the small cap raise to buy their production facilities? Who needs higher profit margins afterall?
Was it the cap raise at AVH .08 to fund sales and marketing for their newly approved product? AVH went to about .38 right after, could be why we're lagging now?
Was it the surprise large cap raise at AVH .58? Don't really need capital to do multiple trials, do we?
Or redomiciling to the largest sales and investment market on the planet? Guess they could have moved to China.
Perhaps they shouldn't have even bothered with Japan?
My only two quibbles with mgmt is that they're a little generous with options and I think they may have taken some bad advice on the RS. A 20-1 RS on AVH has would have left RCEL basically alone and maybe avoided some consternation among retail holders. Like i said earlier, major shareholders voted for it overwhelming, so doesn't seem to matter to institutional holders. I don't think anything will make Aussie retail happy at the moment, knock it down on good news. What ya gonna do?
Cheers mate.
It sure can't help with people scrolling through stats looking for something to buy. I believe the selling is being driven by Aussie retail who seemed to be generally pissed about lots of things at the moment. Need some US institutional buyers.
Trueheart thanks for the nod, my analysis and $3 will get you a venti at Starbucks.
Until most of the shares are held in the US Australia will continue to have a bigger impact. Think the ASX still accounts for 70%+ of total outstanding. Most if not all of the recent selling is by retail, other than Karst Asia Funds there have been no change of substantial holding filings by any other major holders.
I sold enough at 11 to give me a 100% profit and leave me with 65% of my shares for free. In hindsight wish I'd sold it all.
Not going to pretend to understand what's going on with the stock. What I know is they managed to increase revenues ever so slightly in a market where most companies will be announcing substantial decreases in revenue shortly. They cut expenses by 33%, which shows they were minding the store. BARDA reaffirmed it's and by association the US Government faith in the product. Nevermind the dollar amount, that's an ongoing revenue stream. They are on track for outpatient burns reimbursement in January. Vitiglo is on track for approval sometime 2021 (although Perry mentioned "shortly", not sure what that means). Traumatic wounds 6-9 months after Vitiglo, then pediatric burns. DFU at some point. Cosmetics still a wildcard.
Analysts who cover the stock have adjusted their targets post RS to between $41/sh and $65/sh.
Very recently major shareholders looked at their options and voted 98% in favor of redomicile and RS. People who have a lot more invested here than any message board poster.
So I'm probably missing something but have decided to hang on to that other 65%. May even buy some back once it's in a discernable uptrend. I try not to buy in a downtrend. That falling knife thing isn't an addage for nothing.
Some will call me stupid, I've been called worse.
Good luck to all.
Answer:
Because there are only 21 million shares outstanding of the new company, not 100 million.
Or you might ask yourselves a simple question. How does a company with an MC under 1 billion prior to the RS suddenly have an MC closer to 3 billion after the RS when actual stock value is down about 25% ?
Prior to the RS there were 2.1 billion AVH shares which were split 100 for 1 into shares of the new US domiciled company. 21 million shares. It was in the scheme package. Or another way to look at it, there were 105 million AVH equivalent shares of RCEL prior to the 5 to 1 split of RCEL. 21 million shares.
That's pre RS, it's now 21 million. It was in the scheme package. They won't file with SEC directly (10Q) until next quarter. Yahoo and other websites numbers haven't adjusted for RS yet. But Yahoo rarely gets all the info right.
3B? As we speak MC is 525 million, 21 million shares x $25.
Those Aussie's are a tough crowd, up early, now down a squinch. See what tomorrow brings.
Getting a C code for outpatient reimbursement this coming January is a real positive.
Yep, the internet has spoiled us. Back in the day most brokers would have considered that a substandard brokerage fee.
I bought Avita about 18 months ago and have made a bundle on it. What I currently have is still up 500%. Maybe you took his advice too late? I believe current holders will still do well with this stock.
You'll be seeing the preliminary annual report end of month, but I believe it will still be in Australia. Since the official move to US was July 1st think they will begin reporting to the SEC next quarter. Last quarter they released top line revenues week after end of quarter, so we may see those shortly.
Personally I'm more interested in an announcement concerning a collaboration on cosmetics that Perry has mentioned several times over the past 6 months. Supposed to be mid year. Well, it's mid year.
Then the $38 was just a brokerage fee, not BNY Mellon depository fee.
Fmello, quick question. Were there 760 original RCEL shares in that account, before the RS? If not the $38 was some type of broker fee, not the BNY fee, correct?
Who "we" Kimosabe? All five of my accounts were hit with the .05/sh fee. This is not a brokerage fee, it's a fee from the depository, BNY Mellon, and was a contractual part of the redomicile scheme. I'll check with Merrill, Ameritrade and Wells Fargo Monday, but I find it doubtful BNY Mellon will forgo the fee. They've haven't forgone the annual depository fee the past 2 years. That .01/sh in 2018 and .02/sh in 2019.
Like I said, that fee was a bite. All five accounts I have this in were charged, six grand on my main account. Knew it was coming so I can't complain. BNY Mellon exit fee I suppose since they won't be collecting that annual fee anymore. Guess the Aussies will be paying an annual fee next year.
Nice little bite on that exchange fee. Had to transfer several thousand dollars on a couple accounts to cover it. But all my shares are free at this point, so just the price of admission. Here's to potential realized.
Hey tdeck, glad to see you're still alive. See Fmello's post #5883.
Next up is vitiglo late 2021, then wounds mid 2022. Pediatrics isn't scheduled to complete until March 2023, so approval maybe late fall 2023. Next big announcement will likely involve cosmetics. Would also expect a PMA for DFU later this year. Need to keep expanding burn revenues for now. S'all good man.
Spetch, awhile back you had mentioned a friend who held AVMXF shares. If those are the shares you are referring to, that person needs to contact their broker ASAP.
Know what you mean. Traded INO over the past 15 or so years every time there's a virus scare. Bought for 4 and change in February just under 24 now. Crappie company but they're in the vaccine biz so....
Agree with that assessment. My only real worry is the overall market, which IMO has not been behaving rationally (I know, it often doesn't) and may be about to come to terms with reality. Still believe Avita is a winner longer term, just may take longer than we'd like. Hope I'm wrong.
Thanks, figured it had to do with the initial 1-100 RS, didn't feel like doing math. Where you getting the AVHDA quote?
Weird. The latest documents posted today indicate a 1 for 5 split on Aussie CDI's, the original documents indicated 1 for 20. But Aussie investors are saying they got 1 for 20 in their accounts. Odd. Be glad when all of this is settled next week.
Aussie CDI's (1-20 RS) begin trading today on ASX. RCEL 1-5 RS happens 29th, trading on the 30th.
Yes, I had read it. I believe they are referring to off label use reimbursements which, as it states, depends on the level of acceptance by professionals. Many drugs and devices are used off label widely and get reimbursement due to that professional acceptance. Takes a little time. But currently the vast majority of use is on label and they are being reimbursed.
From memory they currently are in trials for pediatric burns, vitiglo and traumatic wounds. Don't think they've applied for chronic wounds (DFU) but intend to do so soon. Based on the revenue numbers, doctors and procedures done to date wouldn't appear they're having any issues being reimbursed for the ones performed. Small burns will be up to the doctors judgement I believe and level of reimbursement will depend on uptake by the burn care community. The Big Kahuna will be cosmetics, which currently aren't in the2 billion total accessible market projection for applications. Think we will hear something on this shortly as I believe they've been putting off announcements until after redomicile.
My memory isn't what it used to be, but you can find more info under the announcements on ASX under AVH listing. All that will get posted on EDGAR once they redomicile. Right now it's just financials. Like EDGAR much more than ASX reporting.
1-5. Let's say you own 10 shares. At $5.90 a share it's worth $59. Assume the price doesn't change between now and the split. After the split you will be issued 2 of the new shares at $29.50 a share worth $59.
Down in Aussie land. Will be removed from the S&P All Australian ASX 200 index as of June 22nd. Same day it should officially become US domiciled, which would explain it's removal from an All Australian index. It's not being removed from the S&P ASX 200. Tempest in a teapot. Be glad when it's done, can stop following Hot Copper.
I believe that 5.49 is just Vanguard's recent purchase. Last I looked Blackcrane had about 12%, Redmile about 10% and I think there are a couple other reporting firms. Karst is the only major holder to file a change in substantial holding notice due to sales. They likely still own some, just not above the 5% reporting threshold.