Apologies for my late reply, was very busy yesterday (same today, but I found a few minutes for HC).. Like all of us here yesterday I was disappointed with the market reaction to such a significant announcement. The news deserved a share price well north of 0.30 cents IMO! BUT due to poor market conditions for the small end of town and a very large overhang in this company in general we saw selling into the news with people exiting who were stuck...
Interestingly it was fantastic to see that 700 parents wanted their kids to participate in the study. But only 80 odd were required with the anticipated large dropouts expected.. Well one thing is for sure - we will have 700 new customers wanting to take this Mente device up when given the opportunity for purchase over in the US. That's pretty good revenue just there without any effort from the company to sell!
Now we have evidence for submission that will be lodged to the US FDA
from October (3rd quarter) I think investors don't understand the significance of this! Some class ii medical devices have been pushed through within 3 months (19%) with an average waiting time of 177 days (in 2016).
https://www.emergobyul.com/resources/research/fda-510k-review-times-research
New process are in place now to streamline the process so I'd expect waiting times to be on the 3 months side of the fence for these types of noninvasive devices!
Now sales will escalate through Europe and Australia, I have no doubt. Infact there is more likelihood that this company will be taken over IMO before it reaches profitability thanks to the awesome outcome from the independent study. One way or the other IMO it will take place within the next 6 months.
Take care all and don't worry about yesterday, think about tomorrow NTI will shine, only a matter of time....
Cheers
Red bar
