que, I'm quite positive after the CC.
It seems that the two investors simply got surprised by the extra drop of the pps after delisting. They obviously didn't expect at all that delisting would affect the pps that much. I myself was very surprised too because the delisting was not surprising anymore and my info is that also the company got very surprised by it.
So the two investors looked like fools for a moment investing money right before the stock tanked (perfectly at the wrong time) and hesitated afterwards facing this new situation. It is like looking through the window and seeing suddenly additional dark clouds outside (let's better stay at home today).
Now, it was remarkable to me that the company sounded very confident in terms of financing during the recent CC. I don't think that this was just a game they played, it seems that they clearly see ways to get the financing done again. I guess their optimism is based on the negotiations Roger had in London with the investors (actually sounded like a committment already) and Marr as backup for the worst case.
You asked why the two investors should come up with the money now after not doing so earlier. I don't see it that negative. The progress reported this time is very promising. It is the perfect time to get on a turnaround train (I know I have said this several times earlier, reads will remind me for sure now) because every fair assessment will lead to the conclusion that persistent revenues on several markets are very close (see Russia, Middle East, South Africa).
Got the personal feeling that China has no critical importance for the near-term situation at the moment? Amazing. Doesn't speak against China but for the progress on other markets. It got also perfectly clear that the sFDA delay is simply not caused by the company though it is an very unlucky situation.
It is still far away from being a perfect situation but during September and October I was far more concerned than after the CC.
The only thing left that could break the company now is that the oral test won't perform in the field as good as in the clinicals. But I think the product is the strength of the company and this is the least unlikely.
Within two/three weeks the financial situation could be fixed and the oral test could have passed already the expert panel in China.
Last CC was very well presented btw though the acoustic quality
has been a bit poor at times especially Ron Mink and Rick Brounstein should get a bit closer to the micro next time. The transcript is very helpful.
Cal
