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I have to agree with everything you say Amber, and I am also a believer in the product.
Last placing at 3p (just after some real positivity with link up with Boots) was a 13% discount so with difficult market conditions and a more difficult 'sell' there is no way the next placing will be anywhere near a premium. I think Modern Waters placing last week was at a 60% discount (just as an example).
In addition to some UK specific marketing I think another option is overseas distribution deals. Clearly CPT would receive less money per unit but orders would be in the thousands and there would be no retail or marketing costs.
If CPT could sell to distributors at say £100 a unit that's still a decent gross profit margin (hopefully 40 to 50%) with no further costs.
As a small company CPT could focus on UK and let other companies distribute overseas
I agree that taken in isolation its a decent update. Making the right noises - reducing costs, gearing up for PR/Marketing etc. However - no detail on sales, new deals. Which is a worry and has been a theme for past 18 months.
Sadly though ive personally heard all of these Exec level statements before from either Eric or Matthew. No real new news in the release - we know the product is proven, our challenge has always been reach and voice. We don't have the funds to go above the line with marketing is still a fact.
Efficiency in the cost base is obviously a good thing - providing its not at the expense of quality.
You have to assume that if the sales figures were good then that's something to shout about. Instead they reference the thousands of free app downloads. Sadly money talks - so no sales, means limited funds which leads to a placing sadly.
But always end of a positive - nice tick up in SP (however as ive said before needs to go up 500% before its on the cusp on interesting for me and many) and atleast we have now stated a sensible plan.
GLA
I remain a believer in the product. I also still think a buy out / takeover is likely in the medium term, but we need more reach/audience before we really worry the likes of ClearBlue etc