Of course biases goes both ways, this is why you have to eliminate your personal biases while conducting research. Gather all information and evaluate in order to draw a final conclusion. Once this is done, do it again to ensure all of your assumptions are either confirmed or denied.
This is how I see this company. SNDY has had a rocky past, no doubt. 20 years (1986 to 2006) looking for their niche, while selling standard endoscopy products. Like many companies they go public, in their case 2006, to open up another financial stream. Many do this in the pinkies, and of course many fail.
In April 2006, after their merger with ViaDux Healthcare, the niche was found and they focused on revolutionizing Mammary ductoscopy.
I believe that in 2010 SNDY had every intention of getting the CE Mark completed after receiving FDA approval in 2009. At this point they were selling their other products and working on the SteriTap. Funds fell short and were forced on finishing either the SteriTap or the CE Mark at the time. I do not believe that it was a coincidence that once the SteriTap was announced in Spring 2012, the announcement that the CE Mark would resume came soon after.
Of course things like 4 prior R/S’s are concerning, no one is denying that. What I am saying is that the conditions that led to those R/Ss do not match what they have today. According to Morningstar there has been one R/S after FDA approval in late 2010. I believe this is important fact to the R/S talk. Perhaps when they realized that the CE Mark would be delayed they wanted to see if they could get a buyer/merger quicker with what they had and with a higher PPS? That was what they said in their PR. I believe that we are finally where SNDY intended us to be in 2010.
Regardless we are here now. I do not care about an A/S increase or any threat of another R/S, which I find improbable. We have FDA approved products and a CE Mark process wrapping up with a company that has a 100% certification rate. These two facts alone hold a high collateral rate.
So in the end I suspect, which many have alluded to, once CE Mark certification is confirmed SNDY will be looking for the highest bidder, if they have not already found them. Their primary focus has been to create new products in an up and coming market, get them certified for global sale, and merge with a larger company that can move them to the next level.
All in my opinion of course
GLTA whatever your ambitions are.
AI
