I am pleased with the very low cash burn given what they have achieved in the last quarter. I estimated the cash figure would be lower, but they've still got $1.5m. Their operations appear to be gearing up and they've stated that they are working on a new improved "oraline" rather than just try and reintroduce the previous version. The timing does look good and from my own research it seems that oral fluid testing has really not progressed over the years that SBN has been out of the market, except that right now it is becoming a focus of workplaces.
They also seem to be taking the patent and certification part very seriously now- probably the reason why anton uvarov was taken on as director.
They mentioned progress to be made in the march quarter, well we are already 1 month into that quarter, so hopefully we are close to a price-sensitive announcement re Oraline .
The report also mentions they are working on 2 additional products in the drug testing space, and are considering other acquisitions / licensing deals too.
All looks good from my perspective.
SBN Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held