First of all, I do believe that the Mente device works. With enough testimonies from users and parents and clinicians; and the Carrick report, some may have other views about Prof Carrick and the sample size and what not, I will not be here if I think the device doesn’t work.
We had Wolfgang, whom respectfully has credentials from a big pharmaceutical company as CEO. Perhaps we did not have a right fit to have a professional running a small start up using tools that run a big pharma. We do not have that abundance of resources as the big guys have. So the route to commercialisation, from hindsight, was not appropriate.
Our new CEO came from start-up background and had experience growing a small company to a large corporation and was subsequently sold at a gigantic market cap. From the last presentation, with our new roadmap and strategy to commercialisation, I would give it a go as I think it is doable and feasible.
At 3c per share, we are looking at a company with a innovative and workable device, now not only for autism, but also for various other neurological conditions, with a successful clinical trial report, but at a market cap of just over A$6m and EV of $3m post rights issue. A shell company valuation for a company with something going, hopefully going big.
I have deferred my decision to replace my oil leaking old bomb with a second hand Honda and use the money to take up all my rights entitlement. Hopefully I will drive a better car in a year’s time.
NTI Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
