Italy should have no problem paying its bills now, thanks to Uncle Ben's currency swap deal with the EU. With Israel and Brazil on board, ramp up kits and sets will help, but it is clear that Italy is running the ball for PLC globally now.
IMHO -- Good thing for us that the macro economics are much better then last year for the US and overseas: may this translate into better financing terms? Remains to be seen... would like to see something above the 40m shares @ .15 (~$6M) that those warrents are priced at with existing owners, given that there is less product risk now than 14 months ago.
Just for the Record, Taglich Bro.'s projected revenue for '11 was $515,000 vs. actual of $671,000 for a 30% beat of expectations. Taglich's estimate for '12 is $670,000, so they are likely to beat that with Brazil and Isreal not factored into the estimates...
So PLC is definitively way ahead on revenue projections.
It's a bit of a stretch to say they are "way ahead" on revenue. The nice revenue number for this quarter was likeley padded by one time stocking orders (ACIST). It would be nice if PLC broke out the revenue by re-orders or procedures performed and initial stocking. That way we could see if there is real traction.
But they're far enough from being self-funding that the numbers don't mean an enormous amount.
It's looking now like the pivotal trial was over-designed. There just doesn't seem to be money available to complete it. And FDA doesn't like to see clinical trials revised in any way after they start. Something has to give, and whatever it is, we won't be overjoyed with it.
I agree: better than expected sales. I'm not sure how much that means, and tend toward conservatism. I'm concerned that recruiting of participating centers for the trial continues 3 months after treatment of the first patient: they ought to need fewer than 50 centers, and the number of medical imaging practices in the US is huge. And they ought to be able to get big chunks of subjects at major hospitals treating very-high-risk patients (not that you'd want a study completely filled with diabetics who have known severe kidney damage already, but they wouldn't be unreasonable as a quarter of the total)
Not too bad. Seems to me that it is right around Taglich Brothers estimates here. I also remember reading the Tag bros. estimates that by 2018 we could be at 300 million shares with 55 million in revenue. Sixty cents here we come.
About what I expected. Italy sales doing a little better than I thought they would. PLC may be able to getter better terms with their two new partners at the helm on this next round of financing.