Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
that comparison and forecast is frankly silly knot ..you don't get over fifty peer reviewed publications lauding the tech for medical diagnosis on a useless product. Patience is in short supply in these markets and that is the only trait required here in my view. The gloomsters are out in force these days..sobeit!
Blue...I was thinking that through and they seem to have been caught between a rock and hard place on the sales side, they couldn't even do the manuals without FDA approval as they have to be labelled accordingly as a new drug. I think you are right in many respects the market expected much more, especially given the lack of news the past months. I suspect it will be a slow start but once they get some conversions it will start to motor ..
disagree with your outlook PY it's just the funding issue scared retail out in my view... for my part I am convinced sales will come once the state licences are granted and hospital managers release some capital funding. The quick buck brigade have all sold out but not one II has reduced so I'll stick it out. Best
Sorry was out this morning, yes I expressed concern on the reliance on Steifel as the NOMAD and broker, alongside the dreadful PR firm that they used to insulate themselves from investors directly. Furthermore, I pointed out that the presentation they did last week contained no financial guidance on future margins and targets etc other than revised sales numbers and that the broker didn't share any such figures, unless to their paying II's through a boker note that a large proportion of their register cannot access..
The announcement of the need for finance in 15 months was also a cause for concern as a toxic thing to do when their was no need to do so (although acknowledging it was very honest).
In summary his response was to acknowledge the message from retail loud and clear last week and that the company would up their PR and look to communicate more with retail. He didn't thing proactive or vox was necessarily the right forums and would wish to do face to face events like their used to do before the pandemic. I purposefully didn't refer to the SP as I think it would have served no purpose but he maintains that they are at the stage they wish to be with the business and can now plough on with commercialisation.
My take on it was that they are determined to revise things and were 'exploring a number of options'.... I think he is an honest man with high integrity but he has made mistakes and now must listen to the market.
If you go back to the presentation slides his email and that of other members of the board are there to see. I won't post it was it would seem disingenuous to do so but the meet the company presentation has it.. sorry for delay respoonding.
the drop was not the past week the drop has been ever since FDA approval. The reasons are pretty straightforward, firstly the capital reserve for commercialization was depleted given 18 months of delays and secondly they attempted to gauge large investors for another raise and didn't like what they heard in response, so have cut their cloth accordingly and left the market with huge uncertainty now.
What strikes me about the company is not the tech (that is excellent) it is the fact that 27 staff have seemingly just sat on their backside for 18 months; yes they couldn't sell commercially or even enter into negotiations but to tell the market this week that they haven't even written the instruction manual yet is frankly ridiculous. I think the II's they approached again with that presentation weren't impressed and neither was I.
My position here is simple, they either demonstrate rapid progress in the next four months or I will take my losses and run. They cannot go slow now and squander first mover advantage (which is what they are doing to preserve cash); it is a race and not being the hare but a tortoise isn't going to cut it!
The market has given a rocket up the back side of the board but will they heed it? I once again find myself very wary of foreign companies listing in London; always an agenda and Richard's opening comments on the presentation were almost insulting when it came to listing on AIM. He is a nice guy, I don't doubt that but nice guys is not what we need, we need real leadership now from the board and the lack of Director Buys currently says a lot (we are not in a closed period).
Eye open and hope for the best!