I'm still holding shares because I think the UTMC and EPA relationships and joint projects mean something, and there is a pathway from results in the lab to results in the form of profitability...
... and because I'm underwater, so I look at the positive side as a possible escape from a bad investment, not as an argument that it was a good investment.
It's never a good investment to rely on second-hand information and highly-filtered and nuanced bits of information in PR's. The recent bounce in the pps seems to be based on this sort of information. Without a change in communication strategy, i don't see why there will be a change in the percieved valuation of the company.
At a dime, NNLX has a $12,000,000.00 valuation. That is a high valuation for a company whose quarterly sales were last reported to be $63,000, and whose CEO complained that the company should not be evaluated like a mature company.
I invested when quarterly reports were being released. I invested in THAT company - the one that was behaving as if it were maturing. I now hold shares of a non-reporting company. That is a bait-and-switch. It may be legal, but that does not make it right.
I hope Bret will find the courage to do the right thing and report financials again. Good luck to all who hold shares in this stock. Those who post here and don't own shares - you are pathetic losers.
I'm thinking the same way and I have never heard any adverse news out of this puppy. Another company I know had a bright future, but management dreams did not materialize. These dreams might have been all staged, since their proposed "possible" successes were all overseas. Something which is not easy to verifiable.
"I hope Bret will find the courage to do the right thing and report financials again."
Whether it made any real sense or not, at least in February 2012 Barnhizer finally publicly stated to shareholders why he wasn't willing to post financials after stopping a year or two before that:
"NanoLogix recognizes the threat our small company poses to suppliers of existing diagnostic technologies... In view of potential market impact for what could be the fastest active-threat diagnostic technology in the world, it would be strategically ill-advised to reveal our current financials at this time. The Board of Directors is in unanimous agreement on this strategy."
Then last August he posted multiple quarters' financials and essentially brought the company current. It appeared whatever was lurking in the financial data he deemed "strategically ill-advised to reveal" no longer needed to be kept under wraps. They even subsequently posted Q3 numbers in a timely manner. Then the company went dark again on financials and remains so.
A comprehensive update in April mentioned increasing sales. So did a June PR. Yet, still no newer quarterly numbers nor any public explanation from Barnhizer on why they elected to stop posting financials again or what it will take for the company to finally start posting them in a predictable fashion like most real public companies do.
If courage has something to do with this, I just wonder what Barnhizer is afraid will happen by posting financials and why he won't explain his decision publicly. The only possible reason I can think of is he doesn't want people to know how much he's paying the marketing hired guns.
Speaking of marketing, TB Awareness month passed, apparently, without anything from the company like last July's big USA Today promo for GBS detection. Now that we're back to GBS Awareness month again, I wonder if the high-powered marketing gurus will veto a similar effort this year. Maybe all's on hold (again) for that new assay...
Notneklip wrote "Speaking of marketing, TB Awareness month passed, apparently, without anything from the company like last July's big USA Today promo for GBS detection. Now that we're back to GBS Awareness month again, I wonder if the high-powered marketing gurus will veto a similar effort this year. Maybe all's on hold (again) for that new assay...."
I think the message on the website under BNF is giving a clue to your question.
"Recent BNF discoveries and product performance improvements have dramatically reduced detection and identification times. As such, ordering has been temporarily suspended, to optimize the product for this new protocol."
It appears we waited so long for the completion of that Clinical Study on GBS to only have to wait more for the suppose new and improve, latest and greatest BNF to come about. Thats my guess what's going on with GBS and BNF . Hopefully it will come out this year and does so with news of those N-Assay too.
A few months before the financials where released they filed the form D but hadn’t used it at that time. I still say the only reason the financials where released was because a pipe investor wanted to see them before investing, so to avoid giving the investor inside info the financials had to be made public.. . Now,,, no financials no note worthy sales, what else can you conclude..
Only two possibilities that I see, for not posting financials:
1) The financials are so good that competitors will get scared and find ways of blocking their sales or otherwise hindering their growth.
2) the financials are so bad that potential investors will not buy their PIPEs.
A third possibility, that it's too complicated, does not seem plausible, as any good computer could spit out the basic numbers we were seeing for a couple of quarters. As a pinkie, they don't have to worry about GAAP adjustments.
A fourth, mentioned here, that they may be hiding their financial success from the "other side" in the Novak lawsuit, does not make sense, because all legal cases involve "discovery," and some data would have to be made available to the litigants at some point., at least in my limited understanding of law.
Here's what we DO know:
1. The few thousands of dollars of sales reported during the brief moment of transparency (or perhaps better, translucency) were not enough to scare anybody.
2. The figures that were posted bear almost no resemblance to what one might have reasonably expected by reading the PRs over the past three years.
In the back of my mind is another long-time pink sheet holding of mine, with great, potentially "disruptive," technology,but weak management, that was stopped from trading, by SEC, about a year ago, because of lack of financial info (perhaps among other problems). The fact that a pink sheet stock is not required to file audited financial statements in GAAP format does NOT mean that they can go on forever issuing PRs about their business plans and remain totally opaque on real data, and expect to trade as a public company indefinitely.
so . . . would a reasonable investor assume that if figures were posted today they would be much higher, a bit lower, or about the same? I have lightened my position by about 40% while hoping I will kick myself someday for doing so, as I bank profits from the remaining shares.
It's nothing new nano has been black hole for a long time now, the only consolation here is that the previous bag holders have funded me here at their own expense, and that cash will lead to some progress sooner or later.