Agreed, much more of that from where I copied and pasted! I just...

Agreed, much more of that from where I copied and pasted!

I just need to judge how likely this company will fail/get badly diluted with it's potential - at this price... Up side vs down side.

This is almost more for me than anything but thought I'ld share bits from the annual report

AXP pays SV (SHALON Ventures) 3% in royalties

http://www.shalon.com/portfolio

AirXpanders is developing a next generation tissue expansion platform for use in reconstructive surgery and burn treatment. AirXpanders was co-founded by Dr. Dan Jacobs, a leading reconstructive surgeon at Kaiser Permanente in the San Francisco Bay Area. Dr. Jacobs brought to Shalon Ventures his desire for a more effective and more automated tissue expander. Shalon Ventures provided the technical and business know-how to address this unmet medical need.

Mr. Tadmor (Teddy) Shalon is the Chief Executive Officer and sole shareholder of Shalon Ventures. Additionally, Mr. Shalon and Mr. Barry Cheskin are each party to an agreement with Shalon Ventures, under which Shalon Ventures has agreed to pay Mr. Shalon 58%, and Mr. Cheskin 8%, of any royalties due to Shalon Ventures from AirXpanders under the Shalon Ventures License Agreement. Mr. Shalon and Mr. Cheskin are stockholders of AirXpanders. Mr. Cheskin is also a co-founder, director and chairman of the board of AirXpanders. Mr. Shalon served as a director of AirXpanders through May 22, 2017.

Research and development
........ We have developed and continue to develop technologies for remotely-controlled tissue expansion. Research and development expenses were $8.7 million in 2017, $7.2 million in 2016 and $4.8 million in2015.

re competition
Competition
We compete with large public pharmaceutical and medical device companies, such as Allergan, Inc. and Mentor Worldwide LLC, a division of Johnson & Johnson, ......Furthermore, the resources and scale of these two dominant players in the tissue expander market provides them with advantages in terms of financing, research and development, manufacturing and marketing resources ..... Additionally, these companies offer their customers access to a suite of products, including breast implants, which may allow them to offer favorable pricing on volume purchases or bundled purchases.


As of December 31, 2017, we had 124 full-time employees. ; seems like a lot

as comparision Sirtex (yes, has nothing in common except in healthcare - w MC $1B+) in the 2017 annual report mentions it has 292 employees