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You apparently didn't view the BioPub video from early April... they discussed getting the prototype (Frankenstein) in 3 months which would be followed after a number of months by the actual UBand. We are now 5 months out from the BioPub discussion and the prototype hasn't been delivered yet. I'm sure Mayo had access to the lab model (which you can see in earlier Youtube videos) but they have not seen the prototype or the UBand.
There are a few reasons for the price movement - 1) the Mayo announcement, 2) the announcement about funding for Particle, and 3) the impending delivery of the prototype. The potential for this stock is so big that even minor events will drive significant price movement.
The "working model" is a circuit board with a bunch of chips and wires that looks to be about a foot long. They used it for proof of concept testing. The next step is miniaturizing this down to a wrist band with a bunch of wires attached for testing (the Frankenstein prototype) which is what we're waiting on. They'll use this to "fix" any issues before committing to manufacturing the final wristband.
As has been mentioned multiple times in this forum, the Mayo Clinic trials can't start until they have a working UBand model. The curve ball is not the Mayo trials but the fact that the prototype was supposed to be complete 2 months ago (as mentioned in the BioPub video) and is still not done.
Being able to miniaturize the BioRFID device into a wristband has always been the biggest source of uncertainty with this stock and I don't think the market will begin to recognize the potential until they announce production of the prototype.
I sent a note to KNWN 3 weeks ago noting that the InvestorPub video was the last news we received and asking when we were going to get an update on the prototype which was supposed to be out in July. Here's the response I just got back:
"Thanks for reaching out. We have been very busy over here and Phil and the team are making great progress in the lab. We will be sharing our progress with the public, so please stay tuned to our website for updates and news."
It's not much info but at least we have proof there are some lights on over there... or maybe this is just an automated response from their mail server :)
I have to disagree on urgency not being an issue... it costs money to introduce new tests in labs and if a lab already has a test that's "good enough", they're not going to introduce a new test that's just a little better.
The testing space will become so crowded with similar products that early entrants will have a competitive advantage.
They'll probably use these forums to tell us that funding is imminent, the peer-reviewed P1 results will be coming "soon", and P2/P3 will start in November :)
Been in this stock for a while... I would be hard pressed to find a company that does a worse job managing communications and delivering on deadlines. I hate to say that MG was right, but INO seems to specialize in disappointing.
I'm a long-term holder of ABML so I'm not trying to bash the stock... just trying to understand the financials associated with the land, construction, and the ordered manufacturing equipment. They've talked about getting grants and funding - is this the source or are they using convertible funding to get the money?
The other issue that has moved to the forefront recently is the super cold storage requirements for several of the 6 "top" OWS candidates. Combine that with the unacceptable level of grade 2/3 adverse events that also plague some of the top candidates and the door opens even wider for INO.
But where is the $17M coming from to cover the iCan debt?
What I'm puzzled about is the terms of land purchase... they reported earlier that the purchase of the property would be completed by mid-Sep. Since they had the groundbreaking ceremony they apparently purchased the property but never provided any details about the purchase. Did anyone see any announcements about this?
The Mayo Clinic would need the final product (or at least the prototype) to do their testing. KNWN would have reported the completion of the prototype and, since the prototype hasn't been delivered, we can assume that Mayo testing has not begun.
I'm not the Karate Kid but "Wax on, wax off" perfectly depicts the experience of owning this stock for almost 2 years :)
I agree that he is not an idiot... however, I think he might be incompetent. He has led the company for 30+ years and still doesn't have a product to show for that effort.
Also, his decision to wait for peer review before releasing P1 results in the current environment is probably wrong - he could have released data and simultaneously submitted for peer review as other companies have done. The delay in releasing the data only reinforced the perception that the results can't be that good, the technology doesn't work, and that he isn't competent enough to produce a vaccine.
When you say "lot ownership is confirmed", who is listed as the owner?
Thanks
It's interesting to see all the non-invasive strategies being released. Although I think Know Labs has a superior platform, their competitive window continues to shrink as they drag their feet on releasing the UBand.
The Nemaura device, SugarBEAT "consists of a daily disposable adhesive skin-patch connected to a rechargeable transmitter with an app displaying glucose readings at five minute intervals for periods up to 24 hours". UBand should still be less hassle and less expense for users.
I doubt that the Mayo trial has even started. Mayo will have to test the actual device and the company hasn't even announced the production of the prototype yet. As pointed out in the BioPub interview, the FDA requires them to submit an NDA (and associated testing) on the actual device to be marketed - they can't even change the color from what was tested.
It doesn't give you a good feeling that they made such a major mistake on the 10-Q - especially after delaying the 10-Q for a week. The other disappointing information was the lower than expected customer count... I thought they were expecting to book a few thousand new accounts each month.
They had a 50:1 reverse split last year when the share price was around .0001
Saw Dr. Kim on Fox Business yesterday... truly, he should not be allowed to appear on these shows. First, he didn't really answer any of Neil Cavuto's questions. Second, he gave the limpest endorsement of his own product talking in optimistic generalities.
Either he really doesn't know how to communicate or he's so afraid of lawsuits that he opts not to say anything encouraging about INO-4800. This stock is a real $@#t show.
Even the Yale test needs to be processed by a lab... imagine the demand for an accurate saliva test that can be done at home for $10. SRNE was supposed to have applied for an EUA by today - wonder what's happening on that front.
Is it FideliTrade.com that you are talking about? Your link brings up alot of Fidelity.com listings which don't really apply.
They don't have a good track record on meeting timelines so I would guess this will slip like all their other commitments. However, I think investors are becoming less tolerant of problems and delays. I think they are aware of investor frustration which is why they plan to put up cameras so investors can monitor the progress.
We'll have a better sense of how likely they are to be up and running in March once the cameras go in.
I thought the filing you linked to said they had 15 days (wasn't clear if from the date of the filing or from the standard filing date)... may not be till the 28th.
I think the recent runup in price in response to the InvestorPlace article is a reflection of the low float on this stock (there's less than 10M shares outstanding and alot of these are held by insiders and private placement investors). The stock almost doubled in price on less than 800K shares traded.
If they start booking significant revenue in the fall you'll probably see the PPS run into the teens. I don't think it will break $20, however, because they will probably still have negative earnings.
That's a good conjecture... this would be a nice fit with their AWS platform. Amazon also has a history of buying companies to make the technology proprietary thereby locking in a competitive advantage. It would force other cloud platforms (Microsoft, Apple, etc) to develop their own quantum computing middleware in order to compete.
That was the revised plan (from the BioPub interview). The earlier plan (from Jan 2019) was to apply for FDA approval before the end of 2019 and they expected FDA approval to take 12-18 months.
I've only been in the stock for 2 years... since you've been in for 9 years you've probably seen multiple revised plans/schedules from this company. Hopefully these multiple iterations/revisions converge to completion soon.
I share your optimism about the technology but still think they could miss their window of opportunity. Even though they have patents on the rf medical applications, there are several laser based solutions being developed which might be extendable to detecting other molecules. Also, patents are expensive/hard to defend if someone else comes to market with an rf-based monitor before them.
Their original plan was to have FDA approval this quarter... I think it's time for them to begin delivering.
Anyone who's been in this stock for 2 years and knows the string of broken promises, changed directions, and funding missteps will not invest seriously until they see them execute. Once they purchase the property, start building the plant, and hiring you should see the stock begin to move. Keep in mind that the plant was supposed to be operational this quarter but now has slipped to 1Q21 (which still seems aggressive considering they are constructing a building).
I've invested in a few microcaps, some successes and some failures, and success always comes down to execution (of course execution frequently depends on funding). You can start buying with both fists once you see they can execute on the latest plan.
QUBT was featured in an InvestorPlace article posted on Yahoo Finance:
https://finance.yahoo.com/news/7-quantum-computing-stocks-buy-130034404.html
I've been in this stock for almost 2 years as they've switched gears from drilling lithium brine in Railroad Valley to recycling batteries. There's lots of potential here but, as always, there's execution risk.
I still think that the lithium brine will bring more revenue than recycling, but I know mining requires lots of capital and the recycling gives them a source of funding for future mining activities. Plus, recycling is in vogue and broadens their base to include not only lithium but also cobalt and nickel.
Agreed that it's better to get right, however, soon it will be 4 months with no updaaes since the BioPub video. We seem to be stuck in a holding pattern with no communication while competitors are rushing to get comparable products to market. I hope the KNWN folks are not being distracted from their primary objective by other initiatives, e.g., Particle... their competitive advantage diminishes with every passing day.
Actually, they have to use the final product in the testing, as mentioned in the BioPub interview (the FDA wants the exact unit being marketed, all the way down to the color and finish).
They need a PR about the Frankenstein prototype soon... the final product will probably come a few months after they complete functional testing of the prototype. Best case at this point is that they submit to the FDA by Jan or Feb.
This group does seem to excel at missing deadlines.
You can't really take the behavior of short sharks like Citron and Hindenberg seriously... they target smaller companies for naked shorting, publish highly questionable hit pieces, and work with ambulance chasing law firms to try and scare investors to sell. They only exist because the SEC does such a poor job of policing Wall Street.
It's completely disingenuous to treat them as anything other than the bottom feeders that they are. If you start pointing to Jim Cramer as a legitimate investing resource I'll know you've really lost it.
INO is not "so far behind". A more realistic assessment is that others have raced too quickly ahead and produced vaccines that pose significant adverse risks. The Moderna vaccine produces an unacceptable percentage of grade 2 and grade 3 reactions on the second dosing in healthy populations. The Oxford/AZN vaccine was administered followed by 24 hours of Tylenol in healthy populations and still produced grade 2 and grade 3 reactions... again, a significant problem. And these reactions seem to get worse with later dosings. Absent a pandemic, these vaccines would never be allowed by the FDA to proceed to P3. Most people will not take these vaccines voluntarily unless these issues are fixed.
As Dr. Kim pointed out, any vaccine will need to be administered periodically and INO hasn't produced grade 2/grade 3 reactions in any of the 3 dosings tested. INO is entering P2/P3 trials in less than a month (only a few weeks behind MRNA and Oxford) and may end up being approved before MRNA and Oxford. I feel pretty confident that INO will have an approved vaccine and, because of its safety profice, might possibly have one of the few vaccines that people would be willing to receive.
I looked up their address in Googlemaps and it is not in a house but is located in the Oakfield Business Center. There also seems to be a benefits group (Schwabe) associated with this address. Otegrity looks like it's a small operation but Jeff Bezos and Steve Jobs both started massive businesses out of their garage. We'll see whether this takes off or not.
The BioPub video came out on April 10 where he reluctantly gave a timeline of about 3 months for the prototype... I won't begin to worry until mid-August. That said, it is frustrating how they routinely miss their deadlines.
In the BioPub interview from mid-April they did say that they expected the "Frankenstein" version to be ready in 3 months. Hopefully they announce it in the next couple of weeks. At that point we will have some proof that they were successful in miniaturizing the electronics.
The June 2 news only mentioned that the first tranche was received but didn't indicate how much. Most people suspected the first tranche was small, although $50K is certainly shockingly small. Convertible funding is always problematic and I'm sure that COVID hitting in the middle of it made it more problematic.
I agree with others that the long-term prospects for ABML are strong and there are some great people in place to execute. Doug Cole, while not perfect, has done a decent job pivoting the company for success. I know he's beating the bushes for more funding and will probably get some grants from govt or industry.
I have alot of shares and sold a small chunk when it jumped to $.14 to take some money off the table. I plan to buy them back if the stock drops to 5 cents so I'm not too worried.
As discussed on this board in the last few days, there two pieces of news hitting by early next week - the P1 results and "Step 2" which likely refers to funding news. You might wait until these are released before shorting this stock. Normal trading behavior does not apply to COVID stocks.
I don't think it's a case of being defensive... most investors recognize that if INO's vaccine gets approved, there is no way VGXI will be able to withstand the blowback from slowing production of the vaccine. This is a non-issue and manufacturing would proceed at warp speed.
The market agrees - the news came out in the afternoon and INO's SP just kept marching up.