Let me be clear, I do not object to the fund raising....15 Jul 2022 16:18
development stage companies need to access ready sources of equity financing in order to grow. What I object to, and it is a window into how the business is managed, are :
1. Repeated on the record assurances from Newlands that a fundraise was not needed. Either it was or it wasnt Newlands, which was it? What's changed, and if the answer is that the fund raising window for small caps viewed as long duration assets like the biotech/device sector is likely to dry up in the face of relentless interest rate rises and what that does to the discount rates, then be a man and say so!
2. The fund raising suggests to me strongly that despite AN giving thestrong impression in recent years that the firm had built significant commercial momentum with key businesses in the area, and that we just awaited FDA approval for the deals to really start to canter, I am concerned that the real truth is the reverse, that beyond a few relationships AN has not developed any commercial strategy at all.....and had effectively been blustering and hoping.
"Since receiving FDA product clearance, ANGLE has seen enhanced incoming engagement with discussions initiated with two medtech companies, over a dozen pharma companies and one Government body. Additionally, ANGLE has increased outbound engagement with direct marketing already in progress."........
AND AGAIN
"The Company will establish the FDA cleared Parsortix system in the clinical market with sales and technical support, systems for deployment and marketing."
S0 after 6 years of engagement with the FDA you are telling me that AN wasnt parallel tracking conversations with the clinical end user market? Certainly sounds like it to me.....
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