Looking Sick, page-19

This stock is not only looking sick but getting sicker and sicker and very close to death bed. A 12 mil. Mcap. company trying to sell a device that cost as close as half a mil. of A$. Companies like Siemens, GE, Toshiba, Phillips, AGFA, billion dollar companies find hard to sell an expensive device even they provide all necessary technical support. Doing every year of awareness after awareness instead of actual selling, why not appoint major distributor and let them do the selling job. if I'm customer I would be fed up if someone comes tells me same thing, then other one comes and tells me the same thing making me aware of same product. I think outright sell cost is very high for medium labs to buy and also depends what service contract they get. That's why they put sell target between 6 months to 1 year for such type of machine. It is a noble machine but what it does is only eliminates negatives out of all samples making workflow faster but does not report on positive leaving review to microbiologist, therefore, the outright cost should be cheaper or the machine should be sold by third party vendor to lease and provide service. Making device cheaper, cutting cost, getting licence fee higher and providing better service may attract more mid size labs. Instead they could try expand application of device on other sectors like microbial check on food and fruit products and so on..

The management is as dull as what ever.. just change executive, bring new but no change on job they do. they lost shareholders trust long time ago when FDA cleared apas, they sold big time and buyers lost lot of money when they did cap. raise lower.@ 31c,, When FDA news comes for independence I don't think lot shareholders will be excited as last time to pull it up unless they sell machine faster and revenues comes in. Now TWO weeks to go for 90 days calendar days for FDA to make decision, most straight forward 501K gets within this time frame. FDA search says last microbiology panel approved 501k for biomerix in 26 feb 19. which took just few weeks less then 90 days. if no news until 22nd they might need more interactive review for the machine. we don't know what stage they are in as LBT doesn't communicate to shareholders. only they said they did not hear anything from FDA until last investor call, FDA does substantive review within 60 days and responds back to applicant.

I bought very small parcel today but someone dumping big time pushing price down, as soon as I buy they sold it even below. Not to sure whether intentionally they trying to put share price down in order to bump up in FDA news or someone knows something is not right and selling hard or those who bought in .31c cap raise getting rid of it, very hard to tell but they trying to push down as far as 5c. so that market cap comes down to 10 mil. to justify of 5.7 mil of cash reserve. Whatever the reason, it is bad bad bad strategy. I don't think any directors buying on market, they are not like other company directors who frequently buy on market to build trust with other share holders. I will possibly bail out on FDA news because selling device with major distributor and getting revenue seems very distant. if it was 150 K device or leasing device, then lots of labs may be attracted but it is not, plus still MRSA module is very far away.. What happened to German labs, been 1 year nothing seem to hear..may be don't want it, is there any labs in AUS still interested to invest in this gadget..it is different story then NAN and Cochlear.. Anyway, if tech savy US buys few of them, then may be some hope but if they just do awareness and awareness year after year, we get better and cheaper product from someone at somewhere then we just hold the patent.. so very very cautious about the future prospect, Just my thoughts..let me know if anyone else bought in 6c range lately on market.. I did small parcel to average it down, but big parcel comes from sell side to push price down..not to sure whether same broker firm selling and buying or any retailers buying as well...interesting to see next 2 weeks...