Well don't expect to see any 'earnings' as they have none. They will release 'financial results' which will probably be dismal. The only saving grace will be if Grillo starts working off a different playbook than Jenkins did. The old CEO's conference calls were redundant and were really more about putting lipstick on the pig than exciting investors with any progress they were making (although he was very nice to thank those of us who continue to lose money in our investment in MRIC). Judging from the volume today and the languishing, sub dollar share price, it looks like expectations for tomorrow are lower than a snake's belly. I really hope I'm wrong as I've thrown enough good money after bad with this company. We'll know in 27 hours or so...
Sometimes when expectations are so low you get the upside of a surprise. Everyone is down on this investment right now and they need to work on their public relations but try not to paint a picture of the past, look towards the future. And they do have earnings.
If he cannot pull it off, no one will. Clearpoint utilization is key and will know each qtr if trends are going in right direction...if they are not expect him to resign within a year
When Grillo announced on the conference call that ClearTrace, which they were expected to roll out in Q4, was not happening you could've heard a pin drop. His reason didn't cut it, mentioning something about his team's focus being strictly on ClearPoint and that it was his decision to remove ClearTrace from the the table. Grillo never revisited the subject and we were all left wondering if ClearTrace was dead and buried or would still be viable at some point in the future. This was not a good CC and I would be very surprised if it doesn't sink right after the market opens Friday morning. Very discouraging.
They need to focus on getting ClearPoint profitable. I agree with his focus. The question still remains is ClearPoint really an advantage to most surgeons?
Increasing disposables revenue and clearpoint sites are a good sign. Earnings remain negative at 3 cents per share loss but they are making progress. It takes time have patience.
If it is to he expected CE marking for cleartrace that you are referring to in Qtr 4 that K Jenkins referred to in another conference call, that would be Q4 2015!!!! Cleartrace is not dead but does have competition from Stereotaxis and Hansen med. These are cutting edge technologies. Take time. I work in surgery and have seen Mako change the way Total joints are done. MRIC is that kind of change!!!
ClearTrace is off the table for Q4, 2015, I should have referenced that in my comments. So we don't have that to look forward to at year's end. Not sure if it will ever come to fruition, my guess is that there is an issue with the technology but who knows. To be abruptly scrapped was head scratching to say the least. In any event let's hope ClearPoint starts gaining serious traction....
I laugh when I hear that as Grillo pointed to those figures again yesterday. It would be everything they got to get a million a month at this point...
It is quite likely that with limited resources and manpower Grillo decided to to devote them all to the business he has rather than dividing his forces.
dogchow2 - not buying it, they had an agreement in place to use the full force of Siemen's sales and marketing departments to get the ClearTrace ball rolling in Europe. Nope, the technology wasn't what they hoped for, there's no doubt in my mind...
Grill never even mentioned Clear Trace since he came aboard. Quite to the contrary , his talk has always been about concentrating the efforts on the neuro-side (DBS, etc)., which, at this point & with limited resources, is the only way to win...
Grillo says that clearpoint could be used on 55k cases per year or broken down= 4,583 per month. Currently MRIC is averaging around 40 cases per month after being in the market place for over 3 years...that would be considered a failure by anyones standards. Face it, physicians are not eager nor are they able to see a clear advantage to using the platform on a regular basis for whatever reason. Was Kim Jenkins really that bad? Put this one on life support as it is down to its last gasp in the hands of Grillo. Expect major a hit on restructuring charges for consolidating to Irvine and also expect the CFO announcing his resignation using the move to California as an excuse for not wanting to disrupt his life in TN.
Obviously you don't have a grasp for what is involved in this kind of change. First you are dealing primarily with Neurosurgeons at this point. Open Craniotomy (very invasive) to MIS targeting (minimally invasive). All surgeons would love to be less invasive but won't make a change until convinced it's effective for the safety of their pts. This will take some time. And in my hospital more and more procedures of all types are being moved out of the OR and into Interventional radiology or surgery centers. This will eventually go!!! And I'll be there watching it happen.
I suggest that anyone who has invested in MRIC take a look at this documentary "Materialize", its available on Amazon (didnt see it on Netflix unfortunately). I believe the amount of brain tumors in patients in the US is going to increase exponentially in the next 3-10 years. Once you watch this, you'll know why I came to the conclusion.
I believe the MRIC will be the ultimate platform to offer the solution / care & treatment.
Sentiment: Strong Buy
And it appears as if Grillo is marching them right out the door. About time, the Memphis status quo boondoggles are finally coming to an end. Up from here!