I spoke to ALRT CEO Sidney Chan and wanted to share with the board my take on our conversation.
Mr. Chan has two meetings/presentations scheduled, one next week and a second the following week both with direct payers. A Payer refers to entities such as governments that offer healthcare, insurance companies, healthcare groups and others that would directly save money by offering the ALRT diabetes management system to patients as it would reduce the overall medical costs associated with the disease.
He said that he was very excited about these two prospects and both are large entities/groups with hundreds of thousands if not millions of potential patients. Although he could not give me detailed information about either prospect I am inferring that one is some kind of healthcare group that may be here domestically and one is a foreign government entity. I could be wrong on both counts but that is what I inferred. Mr. Chan also said that although pharmaceutical companies sound like a perfect fit on paper, he believes the best way to gain a foothold and begin generating revenue is through the Payers.
He said they have been continually improving and upgrading the ALRT system to make it adaptable to just about any clients needs or setup as well as to make/keep it state of the art technology and user friendly but that they are limited in what they are able to release to the public because they have to be cautious of patent theft/infringement especially concerning overseas. For example if they posted a demonstration video on their website showing the system, how it works, and all its benefits they could be ripped off and spend years in court and tons of money fighting which is better avoided until they have market share.
We didn't talk about how things are going in the MENA region, but he did say they are using caution in India. The PR about Aspire stated they have a deep relationship with pharmaceutical companies and he said that they have been been introduced to some major players but that there wasn't much more he could say about it right now.
All in all it was a very upbeat conversation, and the major take away is two very important meetings over the next two weeks. Although it's frustrating as shareholders we have not had more success, Mr. Chan is relentless. He not only has an incredibly good grasp on the industry, and clients but he has forged relationships all over the globe. My opinion is that it's not a matter of if we sign a deal only when.
I've said it many times but ALRT is just one of those stocks that you buy, hold, and forget about until news hits. If news is put out of a 250k patient deal bringing in just $5-$10 per patient month we're talking about $1.25 million to $2.25 million a month in revenue. This stock will go from .04 to .40 in a day and buying anywhere near these levels will be impossible to catch.
Our timing is coming imo, and remember: "The stock market is a device for transferring money from the impatient to the patient."
