Thanks for the info. Wish they'd tell us more. But I take that comment to mean they don't plan to do anything with the shelf short-term.
CODA's annual meeting is also next Tuesday. Anyone going? You'd think someone might ask about the size of the shelf filing.
Earnings next week will be interesting. Should be another strong quarter. But probably a more muted reaction on the stock price than prior quarters since the bottom line comp is so difficult. I think the next catalyst for a big pop in the stock price could be an update on the NAVSEA collaboration. Which should happen in the coming months according to the last 10Q:
The Products Segment continues to invest in its entire product range including in its Echoscope® technology, expanding its capabilities around artificial intelligence and its motion sensor package. The increase in this category of expenditure is a reflection of these activities.
The Group incurred $121,983 in connection with the Cooperative Research and Development Agreement (“CRADA”) where we are currently developing a first-generation prototype Heads Up Display (“HUD”) Unit for Naval Sea Systems Command (NAVSEA) in conjunction with Naval Surface Warfare Center, Panama Division.
The Company entered the CRADA in July 2018 and under its terms it is the intention of the Parties that the Company funds and delivers the first-generation prototype of the HUD within 12 months of the Agreement. The first prototype (comprising both hardware and software deliverables) has now been completed and has been the subject of a number of reviews by the Project Sponsor. This first prototype has been approved as “trial ready”. The Company is due to conduct first live trials with NASA during June. Following these trials, we would expect a short period development work based the results of the trial. We would also expect a small number of this first-generation HUD units will be purchased across various Navy divisions and by NASA for continued assessment. We also expect to receive R&D funding to commence the second generation of development (which will be funded by NAVSEA and not the Company) in October 2019.
We have budgeted a total of $500,000 for the development of the first prototype HUD and have for the period ended April 30, 2019 expended $121,983 on our development efforts so far.
We anticipate that the first generation of HUD will be operational in early 2020. We expect to manufacture the HUD on the basis of an exclusive license for the manufacture and distribution of the HUD system for the NAVSEA and for foreign naval forces, subject to the approval of the US Navy.
As we accelerate the development of the first-generation of the HUD for delivery to NAVSEA and completing our fourth and fifth generation sonar products, we anticipate R&D expenditures to increase in the third quarter.
