This is all I can say about that Beacon report.
Beacon-The company claims to have developed a “breakthrough medical imaging device that produces 3-D medical diagnostic images.” Wow, that sure sounds great. Judging from the stock price, these things must be selling like hotcakes, huh?
(Well I can only assume since the product is in FDA stages that it isn't being sold.)
Beacon-Well, not necessarily. According to its most recent 10-Q filing on August 3, 2009, the company reported net revenues of $574k for the six months ended June 30. And by the way, that is DOWN from the previous year’s $902K in sales in the same period.
(Since this doesn't have anything to do with the new product IMGG has in the FDA process, I can only say, to many people aren't buying the Refurbed C-arms/equipment IMGG is currently selling. Doesn't seem like to much to worry about)
Beacon-IMGG does claim to be in the “FDA approval process” for this device, we can see multiple announcements the company has made regarding that. What we would like to see are some fundamentals. How about trying raise some money to build these silly machines?
( Fundamentaly I think Dean is open to that, but why put the time into raising the money now, instead of waiting til FDA approval when more people will be whiling to invest into a sure thing product? Also he stated in his last Conference Call he was leaning towards a Buyout/M&A so why raise money for building the machines?)
It doesn't seem like much to worry about to me. I'm not selling this for aa long time. The might be a bit of a pullback soon IMO if nothing from the FDA comes soon, but that's due to day traders getting in (no news) the move on. But in the end this company is real, and I don't think we have anything to worry about.
