Andy
That is a good point that should be considered.
Given continuous dilution of the stock aside from options or other maneuvers when they were raising money and not paying board members, etc., it is unclear (maybe powderbum will tell us) how many shares are out there.
It might be that spread out over the number of shares the potential of $500K per year, less the cost of earning that money, is so trivial that it barely causes a ripple.
What is also unclear to me, if I were the VA I would want the latest most updated version of the technology especially given the rapid rate of change when it comes to medical technology and equipment. What will they be getting in this instance? There has never been any indication that there is a newer or upgraded version of the original device. I am unsure if the manufacturer has made any improvements on their own and it seemed several years ago the original inventor, having tried to litigate his grievances with Calmare, was trying to sell his own and, possibly, updated version on his own.
As a taxpayer, even if still wrapped in the original plastic, I would be unhappy to learn that VA was buying ten to fifteen year old tech. unless you were into coins, stamps, or vintage cars, the unused version is not necessarily more valuable nor can you be sure that it still works or that parts are still available.
The only major upgrade, of sorts, in this case, might be the experience that some of the providers have gained over the years. However, do we know how many of those clinics still exist and whether some of their equipment was returned to the company if they had leased and not bought? Too many unknown factors.
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