Microsaic Share Price (MSYS)

So, we are looking at Revenues of 571k (most to be received in 2024), plus the 262k invoiced last December (so, received by now) plus ongoing sales of reagents and the 19 units' pipeline, pending from last December; this means a min (IMO) Rev of 1mln for 2024, for a Co that is almost outsourcing everything (just a handful of staff) from cheaper/smaller premises in York; it looks like the Co will be Cash positive before the end of 2024, and this ignores any licensing of its PFAs detectors by the US OEM, or the European OEM (for the bioprocessing unit).

GLA

Definitely undervalued, they bought MW business (big chunk of it) for 100k; DVRG had paid 16mln for it (whole business) back in 2020, with a lot more money spent on building its products.

GJB is OUT, and Bob Moore has 5% in the Co.

But I think it will take a bit more before confidence that present board are professional.

But if the do this could be extremely under valued.

"Company has now received a new purchase order to the value of €571k from this local distributor to supply associated equipment and consumable items for the existing CTM instruments"... "ongoing operation of the CTMs requires continual supply of these essential consumable items."

"Supply downtime due to water contamination is a serious risk for all water-stressed countries and the Company is well positioned to provide a 'total' testing solution for this issue." big market in the Gulf.

"Mass spectrometry is the only technology that can monitor PFAS to the extremely low concentration levels announced by the US Environmental Protection Agency on 10 April 2024, which varies from 10 parts down to 4 parts per trillion depending on the PFAS chemical targeted. Microsaic considers that its PFAS detector, built around the 4500MiD®, is an ideally positioned detection solution...Microsaic continues to pursue its PFAS detector testing programme aimed at equipment manufacturers and distributors, with the objective of positioning the Company to take a leading position in the US market for PFAS detection and monitoring together with dedicated partners." huge market in the USA, legally obliged to comply.

Some important news from the USA too, re PFAs regulations and USD 1 bln in funding for PFAs clean-up:

https://www.epa.gov/sdwa/and-polyfluoroalkyl-substances-pfas

"On April 10, 2024, EPA announced the final National Primary Drinking Water Regulation (NPDWR) for six PFAS. ...EPA expects that over many years the final rule will prevent PFAS exposure in drinking water for approximately 100 million people, prevent thousands of deaths, and reduce tens of thousands of serious PFAS-attributable illnesses. EPA is also making unprecedented funding available to help ensure that all people have clean and safe water. In addition to today’s final rule, $1 billion in newly available through the Bipartisan Infrastructure Law to help states and territories implement PFAS testing and treatment at public water systems..." The final rule requires:

Public water systems must monitor for these PFAS and have three years to complete initial monitoring (by 2027), followed by ongoing compliance monitoring. Water systems must also provide the public with information on the levels of these PFAS in their drinking water beginning in 2027. Public water systems have five years (by 2029) to implement solutions that reduce these PFAS if monitoring shows that drinking water levels exceed these MCLs. Beginning in five years (2029), public water systems that have PFAS in drinking water which violates one or more of these MCLs must take action to reduce levels of these PFAS in their drinking water and must provide notification to the public of the violation.