Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I know posters are saying that COVID will be around for a long time so there is plenty of time for SRNE's COVID programs, but that is not really true. There is a short fuse on these products because there will be so many products on the market in 6 months that demand for a new product will not exist.
Labs and drug chains will have already committed to existing diagnostic tests and won't be interested in offering new options. Doctors will have settled on their favorite COVID therapeutic product and won't be open to investigating and prescribing other products. SRNE has invested alot of money in their COVID offerings but doesn't seem to feel any urgency in getting these products to market. It's been almost 10 months since Ji first announced the antibodies and diagnostic tests and we're still waiting for approval of the first EUA which was promised last fall.
No wonder shorts are having a field day with SRNE! If Ji had been honest about SRNE's timeline when he first discussed these products then investors could have moved onto better investments. Instead, Ji kept investors dangling by pumping his products to boost the share price for planned dilution.
The BioPub interview from April 2020 was where Phil discussed coming out with the Frankenstein version before the final UBand. The Frankenstein version is different from the bench testing model... I think it was supposed to incorporate alot of the electronics that would be used in the UBand but it would allow them to test the electronics before committing to the final form factor.
I've been having issues with TDA clearing stuff but fortunately it hasn't been a nightmare like you described.
I think COVID plus GameStop madness has hit them hard. But I suspect that the sale to Schwab may have aggravated their issues... I wonder if alot of employees are jumping ship in anticipation of layoffs.
From what has been said by the CEO, the working prototype is not really a wearable. In fact, they referred to it as the Frankenstein version in the BioPub interview because of the wires and connectors hanging off of it. I don't know that they would want to show it off.
Yes, I have some restricted shares. They're close to breakeven right now but I don't think I can get the legend removed at this point. Hopefully the new CEO has a plan that will lift the sp and allow us to eventually get out.
What about you... have you tried to get the legend removed?
It is surprising to see it move up so much when the rest of the tech market is down.
Two pending news items that we're waiting for which might be coming are:
1) Results from the Mayo testing which was delayed by COVID
2) Results from the Particle test at Southwest Research Lab
Either of these would give the sp a pop.
Given news about the weakness of the PFE and MNRA vaccines against the South African mutation I think there will be pressure to get other, broader spectrum vaccines approved quickly. I think JNJ will have approval within 6 weeks.
I agree that the sp will probably drift lower for a while but once the permit is announced and the construction starts this will jump back up above $4.
Alot of big money moved into this stock in Nov and Dec and they will stay parked here for a while. We are seeing drift from the dilution (that we knew about from the S3) and also seeing some of the late money (smaller retail) getting scared out.
I've been in this stock since the ORRP days and am always amazed at how slow they move. Add 3-9 months to any date they've announced.
I sent an email to investor relations asking about the article discussing Apple patents that Helen Ong linked to. The response I got back indicated they had seen the article (as well as the earlier rumors about glucose monitoring in the Apple Watch and Samsung Watch). Here is a summary of their opinion about the article:
- They said KNWN's foundational patent predates the Apple patent
- Also, they said the article indicates Apple is focused on detection in the terahertz range and it's incredibly hard to produce terahertz signals in a miniaturized and cost effective form so an Apple CGM wearable probably would not be commercially viable for a few years
- Apple has not disclosed any clinical data related to testing a CGM device
I agree that SRNE appears to have great potential but we've all invested in companies with great potential that can't seem to deliver.
I believe SRNE sp is being held down because they haven't proved to investors that they can deliver. EUA's for the various diagnostic tests were promised more than 6 months ago yet we haven't seen a single EUA even though the FDA is issuing EUA's for multiple competitor tests each week.
Given the COVID crisis, testing EUA's are quite easy to procure... drugs and therapeutics are much harder to get approved. If they are unable to get EUA approval for the COVI-STIX test why should investors believe that they'll get approval for COVI-MSC or COVI-AMG or any other therapeutics?
It's not the share price that's driving investor frustration... it's the lack of follow through. The CEO talked about filing an application for EUA in August and, 6 months later, there's still no EUA. He has promised a number of different products for dealing with COVID and it seems that COVID will be yesterday's news by the time he comes out with anything.
It's becoming pretty clear why there were lawsuits last spring... Henry Ji promises alot more than he is able to deliver.
Agree that they've been incredibly incompetent and have misled investors throughout.
Ji stated that EUA applications were being submitted back in August for the Columbia COVID test... week after week investors have asked "is this the week when we get approval?" We have now been waiting more than 20 weeks for any kind of approval.
Meanwhile, many smaller companies with inferior COVID tests have gotten approval as SRNE investors continue to wait. Are they still trying to improve COVI-STIX to get the "perfect" test or are they just completely incompetent in submitting FDA approvals? This is the most ideal FDA approval environment we'll ever see... if you can't get approval in the midst of the current crisis then you're really a loser.
The Particle bulb is a positive development but I don't think it dwarfs the UBand. Although they might sell alot of the bulbs, they are still a one-off sale with high costs and relatively low margins. The UBand, on the other hand, would entail a monthly subscription of $49 or $59 which is pure profit. Each UBand would generate $600/year in profit so you would bring in $600M in profit for every million UBands you sell and you would continue receiving that profit for years into the future. Selling another million UBands the next year means you now have 2 million users with a $1.2B earnings stream the next year.
This profit potential would dwarf anything that Dexcom or Abbott currently have since the costs associated with the UBand would be so small. The UBand business model is similar to the SASS model for software which is insanely profitable.
Particle is a subsidiary that was created in May 2020 for the purpose of commercializing non-medical applications of the RFID technology and intellectual property. You can probably still find the announcement in Yahoo Finance.
Wasn't the EUA application submitted for COVI-STIX at the end of last year? If so, shouldn't the FDA have already responded to the application?
I've asked before about Mark Brunswick's role at SRNE... he worked at the FDA and is supposed to be their "ace in the hole" in dealing with the agency. Either there's something wrong with their submissions or Mark Brunswick is persona-non-grata at the FDA.
I've waited patiently for almost 3 years as the UBand was always just around the corner. This wait, followed by a 7 month news blackout, makes me wonder if the UBand will ever see the light of day. I believe in the technology but wonder about the company's ability to execute.
I still contend that they should have rolled out a Chevy first before building the Cadillac "platform" version of the UBand. Marketing history is littered with ghost companies that had a great idea and took so long to implement that they missed their market.
Anybody know when they plan to provide an update? Isn't earnings due soon?
Investors here know what's involved in brining the UBand to market but they've also been given delivery dates that continue to slip. Orginially the UBand was due out in 1Q19... then it moved to late 2019... the BioHub video (Apr 2020) unveiled the platform technology and the Frankenstein model was going to be available in 4 months... then the Mayo engagement was announced in Jun 2020. And it has been crickets ever since. The UBand is the only product KNWN has announced at this point and it's been in development more than 2 years.
Investors know that a company like this could crash and burn pretty easily and they need to assess whether the risk reward profile still makes sense for this investment. This message board provides a forum to share information and gain perspective about the potential for Know Labs to succeed. People here are not "impatient whiners"... in the absence of updates from the company they are trying to form an opinion about whether KNWN goes bankrupt tomorrow or is "really close".
Needless to say, your schoolmarm scolding and endless cheerleading hasn't really provided any useful insight.
This is one of multiple CGM devices that are hitting the market in the next 6-12 months... the market window is closing quickly for the UBand and there seems to be no progress.
The device you linked to, the Senseonics Eversense CGM 180-day monitor, is still an invasive monitor which includes a sensor that must be implanted under the skin 2-3 times per year by a doctor. This seems like an expensive and uncomfortable solution... the fact that alot of people will likely use this device highlights the tremendous market opportunity that the UBand would address if it ever sees the light of day.
I think they should have stuck to their original plan from mid-2018 and rolled out the UBand calorie counter first before perfecting the "detect everything" platform. It would have been an easy pivot to the CGM device from there.
Instead, we're still trying to get a working UBand that can be programmed to detect not just glucose but any large molecule in the blood. Meanwhile, there will be a dozen other non-invasive CGM devices on the market by the time this makes it to market.
Another case of perfect being the enemy of good enough. They should have followed the agile methodology, shipped a basic device, and perfected it in future versions.
Yes, it's pretty frustrating to own a stock with so much potential and so little progress. It's a little like visiting that friend who has dozens of half-finished projects lying around and tells you about the new project he started working on. Sorrento is that friend :)
Most people realize that they are simply registering the possible shares with the S-3 and aren't committed to using them... however, people also know that the allocated shares are like money burning a hole in their pocket and it's sometimes so much easier to issue shares then go pound the pavement to find other sources of funding.
The sp drop is a combination of profit taking, sell the news (the $4.5M grant news just released by the company), and the S-3 that was released yesterday listing the potential sale of $250M in shares.
It will bounce back on positive news.
See the interview with CEO Robert Liscouski in Seeking Alpha posted on Friday:
https://seekingalpha.com/instablog/40844025-cestrian-capital-research/5546388-getting-measure-of-quantum-computing-interview-qubt-ceo-robert-liscouski?inf_contact_key=1746cb027c1915cbe52793611c323d7f4dfbc39d7283b2cb89d5189540b69330
Appreciate the positive message but, in truth, all the YF columnists are Democrat hacks... their opinions are worthless. There will be opportunities to make money no matter who's in office but only if you ignore anything posted by a YF columnist.
What 8-K are you referring to? The last 8-K I found was from Jan-05 dealing with a private placement offering.
I agree that it is past time for SRNE to deliver. Most of us have probably invested in companies based on a great idea, only to see the company crash and burn because they just couldn't deliver on that potential. This is the basis of the frustration many SRNE shareholders express. We keep seeing Dr. Ji present great new potential products but haven't seen him deliver yet on one.
I'm still trying to figure out what role Mark Brunswick plays at SRNE. His previous job was with the FDA and he was supposed to be Dr. Ji's "secret weapon", able to navigate the FDA approval process. He hasn't gotten one product through the FDA yet... maybe he left the FDA because he was the guy nobody liked and this is payback.
Thanks for posting... it's interesting how the news has suppressed the stories of the many people experiencing adverse effects from the vaccines.
Also interesting that people have assumed that the negative side effects are an indication that the vaccine is working. Scientists warned early on that the use of PEG as a carrier for the mRNA would lead to alot of allergic reactions. And this is just the first wave of side effects - who knows what long-term effects will emerge.
It's pretty clear that the FDA was told to slow-walk the development of INO-4800 because no one would have taken the MNRA and PFE vaccines if a much safer and more effective alternative was available soon. Hopefully the corruption of the FDA, Monclef Slaoui and Anthony Fauci ultimately gets exposed. Of course, Kim made alot of mistakes in navigating the approval process which made it easier for the FDA to slow this down.
There must be confusion on which company was being discussed... the original post I responded to was the recommendation for Sayona mining (DMNXF) that indicated they were a lithium miner which was about to take off. I responded by saying the share count for that company was close to 5B shares outstanding and they would have to see unbelievable earnings to drive the share price much higher.
They don't have any statistics available on DMNXF in otcmarkets.com but I found an outstanding share count of 3.4B listed on YF. I rounded up to get 5B since there are usually alot of options and/or warrants on an issue like this. I also checked CNBC which lists 2.5B shares outstanding.
I'm not claiming that data on YF or CNBC is always correct but I'd doublecheck if I were you.
Sayona seems to have about 5B shares outstanding... they'll have to have annual income of $500M to get the share price up to $1.
Are they planning on mining this or is this a brine deposit? My gut reaction is that getting that level of income is a big stretch.
I concur with you frustration... this company has promised several times to submit an EUA with the FDA "within a few weeks" and then failed to do so without any explanation. They keep introducing new potential products into the pipeline without delivering on any of those already in the pipeline.
The COVID products have a limited window of opportunity and that window shrinks with every passing day.
As a fellow investor, I would much rather see products delivered than to hear about one more new great potential product or yet another COVI-XXXX trademark filed.
$45/hr salaries at first seems pretty high except it probably corresponds to loaded average salaries (with benefits factored in and they are usually about 25%-30% of the total). In addition, alot of the process will be automated so that the workforce will probably be top-heavy with engineers, chemists, and managers. Hence, the $45 number is not that high.
Assuming 25% in benefits, this works out to an average annual salary of $57K which is reasonable for a workforce that includes alot of professionals and managers.
Of course, maybe Menka really thinks they'll pay $45/hr for someone working a forklift... who knows for sure.