Tuesday, March 31, 2020 5:07:51 PM
I thought they were to be completed by end of March. Getting these filings up to date is more important to the business than bringing on another technology.
More concerning is this quote from the Signet CEO in his recent announcement about the Sterilal acquisition.
He states: "Presently, we are seeking funds to identify a testing facility, engage scientists..."
If Signet needs to seek funds "to identify a testing facility", then they are broke.
A simple internet search will provide many licensed reference labs who conduct GLP efficacy testing for disinfection products. Yet Signet doesn't know enough about validating disinfection properties to even know that a google search would identify all the testing facilities they need.
And once again, they are bringing on a product that will need third party validation and Federal EPA approval as a disinfectant BEFORE they can sell one widget, if they plan to sell the product claiming a disinfectant kill against COVID-19 or any other organism.
One final comment. The disinfection business is a mature industry dominated by some major players. Ecolab, Clorox, Diversy, Betco, just to name a few. Hard to believe that if Sterilal was really special, one of the big boys wouldn't have stepped up already.
When the SEC filings are caught up, my guess is that you'll see a company that doesn't have the cash needed to mail a letter.
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