Having had some more time to digest the quarterly report, its apparent to me that a Strategic Review is Urgently Required.
The strategy currently in place is clearly not working & is unsustainable given the company's current financial position.
I'm still trying to work out why the USA FDA would even mention the company's product in the way that it did when the company's only managed to sell @ 524 in the last 6 months & maybe 1000 units in total.
At the current rate of expenditure there is not enough money left for the company to last another 4 months.
6 months of advertising & marketing have used up A$1.5M of cash to achieve just A$0.131M of sales.
I'm going to propose something radical, for other shareholders to debate. (yes I'm sure it will need tweaked slightly)
We should be telling the board of directors to immediately suspend all advertising & marketing (A&M) other than the signing of distribution agreements (like the UK one) one for AUS & maybe two for USA.
The PeriCoach device will be sold for the next 6 months @ A$100 per unit.
The software and App subscription will be set at A$48 per year.
Those that have already purchased the PeriCoach device will be credited with 2 additional year's subscription (free of charge).
Yes it will cost the company money to do this (effectively in supermarket terms, a loss leader product) however it will cost far less than we've just spent on A&M (and got little in return for it).
I'd like to think it will result in sales of 10,000 units over the 6 month period.
Those buying the product during the period will be required to have there data used by the company (anonymously) for research purposes, to improve the product further & for the study.
They'll also be asked if they would mind submitting a short survey after 3 & 6 months to pass on there own views of the product & its performance in there own circumstances, so that it can be compared to the data from the study . The purpose being to see that what appears to be improvements in pelvic floor muscle strength data wise etc is actually translating into visible improvements in the daily lifestyle of the user.
Having that amount of data available to the study group should allow them to clearly see what benefits are occurring etc etc
LOTM
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