I think alot of the patience have been rounded up and put back into the home:)
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I've made statements before on the 'ease' of PEBs lab scalability. In the context of how the industry views high throughput testing, PEB is in the dark ages. Yes I'm sure they can do 260k test pa in their US lab, but that's like me saying "I can make 10 tons of milk powder in my back shed given enough stovetops and pots".
According to their Annual Report they processed 328,812 tests in their NZ lab last year, so 260k in USA should not be too many. From memory they can use the NZ lab for US test too.
Actually - I think this is a red herring. I am sure PEB would love to have the problem of running out of testing capacity ... and if they do, they will have enough money to upscale their testing regime, no matter how old fashioned and manual it might be.
In my view scalability is the smallest of their problems. Their only real problem is that they don't seem to find fast enough a sufficient number of customers happy to pay for tests going through their lab ...
After sitting through yesterday's rather amateurish and confidence-depleting AGM presentation (the one exception and a breath of fresh air was Jackie whats-her-name), I felt sick in the stomach that I was sitting on a paper loss having invested in a company with much promise. My nausea was due I'm sure to realising how much of the promise is now hot air, and I'm kicking myself for not being more diligent in my research.
And so seeking not so much a remedy but a distraction, I had a look at VMob's AGM presentation today - what a contrast. Professional, well positioned and with not only a great strategy but rungs on the ladder and a revenue to cost ratio moving rapidly in the right direction.
I've today sold out of PEB and invested more into VML. Better commercial prospects by far.
PEB has nice technology, sure - but it takes a craftsman to make best use of any tool and the right sales and marketing to crack into any promised big time revenues and profitability. These wishful thinkers are kidding themselves if they think they'll get their $100 mil by 2018.
Sorry but I'm not longer a believer in this company.
The last straw was seeing the directors making out that they're very confident in the company's prospects but not enough to take up any of their rights. I read that to mean that they're getting tired, having suffered too many setbacks to want to invest any more in something that may not actually bring a healthy return. They'd clearly rather someone else fund their plans and take the risk - well it's no longer gonna' be me.
Arivederci
Scalability is definitely not an issue.
Twotic - sorry I missed you mate. Hunted down a plaid shirt but the wearer was very determined he was not you..
Had a good chat over a beer with a few of the PEB guys post AGM - pity you were not part of that discussion as it might have tempered some of the assumptions you have made above.
Overall, I'm happy they are doing the biz. It won't happen fast enough or in the way the trolls imagine here but that's okay.
Cheers
I think that the 328,812 may represent the 'on-paper' value of ONLY the User Programme tests and does not include tests that were paid for, given that the value of "Product Sales" from NZ + US greatly exceeded the amount for the "Research Tests Processed" in NZ + US.
Here is the table (from page 50 of the 2015 annual report) for those interested:
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