Cash-flow negative at about $33,000 a day, so this buys them another half a day.
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Cash-flow negative at about $33,000 a day, so this buys them another half a day.
33000 a day divided by 1125 =29 tests per day
29 tests times 365 = 10,585 tests per annum at US equivalent.
The other thing I picked up at the Annual Meeting which may be positive was the fact that they have been increasing the number of sales people in the US again In the 2019 FY, the rate of sales increase (as measured by lab throughput) slowed
- as a result of them reducing the numbers of sales people in the US from 19 to 12 (until the LCD comes through)
- which was as a result of their need to preserve cash
- which was as a result of the fact that they don't get cash/ and therefore don't recognize as revenue or receivable anything sold via CMS (IE "so why burn cash when we can't recognize the revenue")
At the AM DD stated that they had increased the number of salespeople back up to 16 (?). Why do that, and increase the net cash burn, unless...
- those salespeople are going to generate cash-in-the-bank sales (IE non-CMS sales)
- there are very good indicators that LCD is very close
- they are confident that they have finance (in whatever form) teed up so that another cap raise will not be necessary, otherwise they are just bringing forward the date of the next cap raise??
Curious.
Is that really the case though - cash or shares? I think it is a case of shares only.
This is a yearly occurrence with these two executives in any case so certainly not newsworthy to assess it as anything positive imo.
As an aside, bumped into a broker from Craigs last week at a function - he has gone stone cold negative on PEB after being exuberantly positive a couple of years ago - the word 'con' came up a few times in the course of discussion.
Good news as far as shareholders are concerned - means DD & his bunch of highly paid incompetent management are going to have to present something concrete to raise the next lot of funds.
Otherwise, it's shut down time, so no more throwing good money after bad after bad after bad after bad! :t_down:
https://www.odt.co.nz/business/bison...e-export-award
It is not like DD & PEB to keep quiet and not blow trumpets to herald PEB winning an award!
So in the interest of fairness, I hereby broadcast to one and all :
PEB - Winner of the inaugural Otago Export Award for Innovation!
"Pacific Edge was described by the judges as a "truly remarkable company that have taken on the big boys" to the benefit of a large number of patients"
Pity shareholders and investors are the ones who have taken such a hiding from the destruction of wealth as PEB took on the big boys with its urine samples while they stuck a few big painful needles up PEB's proverbial?
Wasn't PEB supposed to have announced a new capital raising by now?
Hi. Came across this...
I realise this is mostly about BCG therapy, but the statement "Unfortunately, a sensitive and specific biomarker for nonmuscle-invasive bladder cancer (NMIBC) has not been discovered" caught my eye.
Someone may have more insight into this than me?
https://www.urologytimes.com/article...biome/page/0/1
"Current gold standard follow-up involves regular cystoscopic evaluation with visual inspection for disease recurrence. Although cystoscopy is associated with minimal morbidity, it remains invasive, and detection of recurrence is surgeon dependent.
Given the limitations of cystoscopy, a multitude of complementary tests (urine cytology, fluorescence in situ hybridization, cytokine and genetic profiling) have been investigated as potential biomarkers to predict nonmuscle-invasive bladder cancer (NMIBC) responsiveness, recurrence, and progression. Unfortunately, a sensitive and specific biomarker for NMIBC has not been discovered."
"To date, no biomarker has shown high enough predictive value to warrant widespread clinical use (Eur Urol 2018; 73:738-48)."
https://www.europeanurology.com/arti...850-3/fulltext
https://www.urologytimes.com/article...ary-microbiome
Balance. Your broadcast to one and all seems to have had the desired effect. Turnover in PEB shares traded today achieved almost unprecedented and rarely achieved levels - see image. :eek2:
Attachment 10742
Crikey! The CFO has ruled out growing PEB into a larger organisation....
"Pacific Edge Limited advises that Kate Rankin has resigned as Chief Financial
Officer with effect from 19th December 2019, to take up an opportunity with a
larger organisation."
Details here
I'm amazed that last statement has to be included in the first place, just write the CFO is leaving to take up another opportunity...... why, like why would you add the last part?
Its like trying to justify their short comings, next thing CEO sells some shares because the roof needs a repair and states the wifes been complaining he needs to get it done sooner rather than later ;)
In fairness, there are ALOT of 'larger organisations' than PEB....
Guess she got sucked in big time too in 2014 about the ‘several tens of thousands of tests’ and the US$100m revenue in 5 years?
PEB would be worth at least $1 billion by now if the US$100m was achieved and she would be able to retire on the umpteen number of options issued to her.
Good luck to her - gotto know when to cut your losses, unlike the underwriting institutions who are eagerly waiting for news of the next capital raise.
Must be rather gutting to have accumulated 770,000 options at ever decreasing exercise prices over the last few years and giving up on the dream of the options going into the money?
Imagine if she had joined ATM in 2014 and accumulated those options!
But maybe not she is not as gutted as the legions of shareholders who put in REAL money into this wealth destroying company, throwing in bucket loads of good money after bad.
What information? That the real reason is probably that after 5 years of chasing the elusive US$100m target and the ever ‘it’s just around the corner’ year after year, she has decided to pull stumps and call it a day?
Imagine how much personal credibility Kate has lost in the last few years as she prepared presentations and financials - none of which met expectations?
As for investors being cynical, this is what happens when a company has a habit of issuing statements with no follow through proper clarifications or explanations when the statements proved to be grossly incorrect and way off targets.
And PEB is going to become an even smaller organisation soon.
https://www.nbr.co.nz/article/pacifi...-cfo-bd-165341
Spoke to a broker (previously enthusiastic supporter of PEB who thought Kate’s appointment was one of the turning points to invest heavily into PEB) - no guesses that as far as he is concerned that her resignation is the sounding of the death knell of PEB.
‘Guess she cannot bring herself to be involved in the current capital raising after the last 6 in 5 years.’