Sensera Roadshow feedback - June 2018

I dialled into a conference call with Ralph yesterday morning as part of the company's Australian non-deal roadshow that took place during the week. I came away from the call feeling more upbeat and positive than I ever have regarding the company's growth prospects and the direction Ralph is taking the business. Here are a few take-away points that I took from the call:

- The recently announced Nanotron agreement with Marco is likely to result in approximately 20 installations in the first year. This is a new product and the majority of these installs will be in Russia and Eastern Europe.
- Organ-on-chip: This is revolutionary and a bigger opportunity than I first thought. Sensera has been working with Harvard for about 6 months and the sales are already rolling in. I believe this could be worth USD $1-2m in revenue next year, and if organ-on-chip takes off, there is some serious blue sky here.
- All previously announced revenue guidance will be met comfortably. IMO, FY19 target of +60% revenue increase is conservative and likely to be smashed. Q4 was mentioned as an inflection point where revenues will likely ramp up significantly above current levels.
- The poor share price performance since the last 30c raising with Shaws in hindsight shows this was not a good decision to raise with them. Getting the right investors on the registry is crucial for share price growth and I'm confident the company has learnt from past mistakes and will be much more diligent in regards to future raising/s.
- The elephant in the room is obviously the company's cash position and its need to raise capital in the second half of 2018 in order to get it to operational break-even at the end of FY19. The company is working on a number of initiatives to help with cashflow and ultimately IMO this should result in a delay and/or reduction in the amount of capital required. I got the impression that these initiatives are close to being finalised.
- My understanding is that Ralph has had a number of meetings with other large medtech companies who want to use Sensera's fab facilities but are concerned about the company's balance sheet. I feel a raising later in the year (hopefully at higher prices) to new investors will continue to open up the doors to significant opportunities for Sensera.

Cheers