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But why switch from brine (easier to mine and process) to claystone? The most efficient lithium mining in the world comes from brine deposits, correct?
They first announced seeking FDA approval on the UBand back in 2019 and predicted it would happen in 2H2019. Now we are in 2022 and the UBand is still a pipe dream and they are talking about seeking FDA approval for the KnowU by EOY and begin manufacturing within 2 years.
In a similar vein they wasted alot of resources developing and testing the Particle bulb which was supposed to be marketed last summer. That is still on the shelf, awaiting a marketing partner... talk about how long device approval takes is irrelevant, this company has a history of failing to deliver.
What you call "Nay-Sayers" are mostly frustrated investors who've watched KNWN piddle away any competitive advantage by slow walking the rollout of their technology. What was hailed as a revolution in health monitoring when announced 4 years ago has devolved into a product that may never see the light of day.
In describing the KnowU device Dawson James states, "Mr. Kolbert said that over the next two years, the company plans to complete product refinements and finalize the KnowU production units." By the time the KnowU device hits the market every fitness watch (Apple, Samsung, Fitbit, etc) will have a host of biomarker sensors built in. Why buy KnowU (or, in 5 years time, the UBand) when your fitness band will already have the same functionality.
I think CYCA's solitary focus on government sales of event monitoring software is myopic. Expanding their outreach to include the consumer market will push their SUPR compression methodology to the forefront, making it a go-to video format for alot of multimedia and streaming applications.
Consider the mpeg encoding format, an aging industry standard, which brings in many millions of dollars in licensing revenue every year - if the SUPR compression format is indeed superior in compressed file size, video quality, and cpu usage then a push into the consumer market (e.g., smart phone video, twitter, instagram, facebook, youtube, streaming services) will prompt large scale adoption of the format, bringing in significant licensing revenue. This wouldn't detract from their government sales business and might even enhance it because SUPR would be a widely accepted video compression technology.
If only the market shared your optimism :)
Henry has done a poor job of managing the company, communicating with shareholders, and getting drugs approved. He has overstretched Sorrento's resources expecting future approvals/revenue that never came.
It's been more than 18 months since his "there is a cure" announcement and more than 12 months since their FDA "application" for COVISTIX and still no signs of revenues. I'm sure you'll point out the "massive" potential revenue from Mexico and Brazil but Henry has remained mute on these sales - presumably because the news isn't that great.
The fact that he can't provide any real news in the face of the current crash in price speaks volumes.
I was hopeful that SRNE could really succeed and have lost a chunk of money chasing that hope. I think the 50% drop in SP over the past month is a reality check for this stock. It looks like it's time to throw in the towel.
What is going on with this stock... almost a 30$ drop in the past month. It's either being gamed by shorts or investors are throwing in the towel because they're tired of the glacial pace of execution.
The factory should be up and running for lithium sludge early in Q3. I think they expect to be able to sell the sludge to other processors in the interim. Full battery metal processing is expected by year end.
Of course, this is just the 20K ton pilot plant. After the prove-in they will probably start working on a full production plant but, based on the pilot plant experience, that probably won't be ready until 2024. With the current price of battery metals, the pilot plant will probably be generating a few hundred million in annual revenue.
They are also focused on processing of lithium clay from mining leases which may start to generate revenue in 2023.
This stock is getting pummeled... down almost 20% since the beginning of the year.
The SP continues to decline... I wonder when they will do something to stanch the bleeding.
Until we see real revenues coming from Mexico and Brazil they are still in the "could" column.
Yes, the "F" in FDA stands for FUBAR. This is the agency that started the pandemic by insisting labs use their "supertest" which turned out to be an utter disaster... they didn't want to use the reliable PCR test that the Europeans offered them since it was "Not Invented Here".
When historians assign grades for the handling of the pandemic, the FDA will receive an "F". Of course, they won't care because they'll be taken care of by Moderna and Pfizer who are walking away with boatloads of cash. Who cares that hundreds of thousands died because they fumbled testing, therapeutics, vaccines, etc.
Another in-vivo study... didn't the definitive study already happen w/ Mayo?
This company really does move at a glacial pace! I guess this is one of those stocks that we pass to our grandkids... hopefully it'll be worth something in their lifetime :)
To marcg... I'm not a paid member either, but from the ihub Wiki, "Non-subscribers can send PMs during Happy Hour on Fridays from 4:00pm - 5:00pm Eastern."
It has seemed that either the FDA is promoting big Pharma at the expense of SRNE or that the FDA has a grudge against SRNE. I've heard grumblings on other news groups that SRNE's FDA liaison (Mark Brunswick) used to work at the FDA and has made enemies over there but I don't know if this is true.
Either way, the FDA seems to be slow-walking approvals for SRNE.
I don't understand why you will need a prescription for COVI-STIX... I can walk into CVS and purchase a couple of different brands of over-the-counter antigen home tests without a prescription. Why will COVI-STIX need a prescription from a health care provider?