What is the prevailing sentiment on this board regarding the likely method STXS will choose to regain compliance with the $50m minimum asset requirement to avoid delisting?
After reviewing, briefly, the SEC filings over the past year or so, I cannot believe that offering shares will be the most preferable route for either the investors or the company. Given the problems early in 2012 keeping the share price above $1, and the subsequent problem of getting the value of outstanding common stock above $15m, another option seems preferable, such as securing private debt or finding a partner in Japan. Or, although this wouldn't be too exciting for the long-term investors, a buyout by a company that can implement the Niobe system in Japan would seem to be a decent option as well.
A strong, credible management team with an experienced CEO will take this to the 50 mill mark quickly. The low cap is just lack of credibility from the street who has been betting to the downside. Unless they go headhunting, Niobe/Japan by itself will not do. I still think this it's worth a gamble here, say a starter position.
They certainly have the cash to do it. I wouldn't think STXS management would go for a buyout anywhere near the current PPS. It would seem to me that other, at least short term, options exist to begin marketing and implementing Niobe in Japan to get the revenue up and increase PPS before any serious discussion of a buyout would occur.