Does anyone think this company would be interested in changing direction. They have the cash, but they can't quite figure out what they want to do with it. Real estate seems to be just parking it until something better comes along. Gaming not doing so well. Ruggedized mobile devices better but few barriers to entry. They need a better game plan. Wonder if they are open to ideas.
I e-mailed Mr. McClellan as well and have always gotten a quick response from him. You have to figure the operating assets of his company were bought with cash and shares, so he is highly motivated to put the pressure on Mr. Fan to get the stock trading again. Those that have sold will regret it, and its times like these that actually clear the weak longs out setting the share price up for a roaring comeback. Mr. McClellan looks like he's worked on some solid projects in China, which tells me the company is branching out from water, pollution, and sewage. I believe this company will make it, and this is but a bump in the road.
yes, you got it. Still waiting for the CEO to respond to my e-mail about re-listing. Since the company is not bankrupt, the shares have not been cancelled. They just have no where to trade at the moment other than on the gray market. But the gray market will not be around for much longer. The CEO assured me a couple of weeks ago that the annual report would be out in 30 days, which would put it at the end of the month. If he follows through, I'll press him to get it trading on the Pinks.
I'm convinced this company's problem is they don't know how to run a business under a capitalistic framework. Remember they come from communism. They just don't get how important capital is. To get capital, you have to sell shares, as most banks won't lend to small, risky businesses. If you continually need to go to the stock market to raise money for some of these projects that have an upfront cost, you have to be constantly vigilant about your stock price, ensuring it remains high by expanding your revenues and profits. I don't think the CEO gets how important maintaining the NASDAQ listing is.
yesterday? It's trading at .60 now on just a few shares. I am hanging on to mine. With 44% held by insiders, you can bet they will re-list on the pinks, then eventually NASDAQ once they have this mess cleaned up. They are still very much in business according to Brian McClellan who heads up the US subsidiary. He's completed 3 projects in China.
Retail investors cannot buy, unless it's to close out a short position. Try it. Now, I suppose the company could be buying or maybe some savvy institutional or hedge fund investors. We know there are no market makers. Who could it be? I have written the US subsidiary J&Y, and here's their response:
"The situation is still receiving much attention throughout the company. At this time, I do not have any information to share other than the company continues to operate as usual.
Where there is material progress that can be announced, Mr. Fan will surely do so."
He received stock and cash for the operating assets of his company, so I have to believe he has a vested interest in making sure the company gets re-listed, first on the pinks, then eventually on the NASDAQ. This is true of the Chinese insiders as well who own 44% of the shares. And it's important for the company to maintain a listing to expand their operations beyond China and give them the option to raise capital for this capital intensive business.
If all you can do is sell, ask yourself who is buying? Is it smart money or just shorts covering? I doubt it's shorts, they could just let it ride until it trades no more. Remember the company is still in business. They have a US division that has done 3 projects in China: wwwDOTjyintDOTcom/profilesDOThtm. If you talk to J&Y, he will tell you they are very much in business. If we all write Mr. Fan and press him to relist after the annual report is complete and the BSST issue is resolved, then maybe it'll have some value. I'm not selling into the grey market. I think it will turn around. The services this company provides will be needed for a long time to come in China and India.
How about MNKD? Al Mann is a multi-billionaire who is the Elon Musk/Apple Jobs of the healthcare sector. He invented the insulin pump, is about to release an ultra-fast acting insulin inhaler (compact whistle size, fits in purse, think easy to use like iPod/iPhone) which gives virtually instant control over managing glucose levels during a meal. Also working on a bionic eye.
chippy, e-mail my yahoo account if you are interested in joining a discussion group on BSD Medical. If you know the history of the company, I think you can make a valuable contribution.
bluechiptool, if you send an e-mail to my yahoo account, I can get you in on some good discussions we are having concerning the company.
Butch tried a patchwork of distributors in the US but that failed. He claimed it had to do with no minimum orders in the contracts, but I imagine there weren't enough incentives for these independent distributors to push the product (they have a number of products in their portfolio and they'll push the ones with the best incentives). As to the FPU program, distributors sell the equipment. They are not set up to schedule, track, prepare, and transport equipment from hospital to hospital. So this has to be done by BSD Medical reps. BSD piloted the program in Salt Lake City, and when they were convinced it could be done in other large cities, they rolled it out. It's not a bad idea, actually. It's a kind of marketing tool. If enough doctors start using the equipment in the hospital, then the hospital will consider buying it. But the doctors have to be aware of the program and equipment. That's why BSD is doing all these demonstrations at conferences. It's just that there's some overhead on BSD's part to get reps in these cities. They are spread so thin now and have little capital to spare with the Terumo deal at stake.
Yeah, I have practically everybody here on ignore. Reminds me of Facebook. Most of the posts are not worth reading and are just clutter.
Regarding my comment about sales slowly gaining traction, I believe there is a critical mass type of action we are seeing. There are a handful of sales now but as word gets out and a "me too" mentality sets in, there will be a burst of activity, a kind of chain reaction. It starts off with key opinion makers, followed by early adopters, then specialists, and finally mass adoption as the procedures go from a novel treatment to mainstream standard of care. And all this has to happen within budgetary cycles and as Europe emerges from austerity. Right now, we are at the key opinion makers stage, soon to be entering in the early adopters stage. That's how I see it. So Europe is promising no doubt. And I see Asia emerging with the hyperthermia sales. Let's just hope they are sustainable. I think they will be if it follows the course of Europe.
The US is a bit more problematic. I do agree that one should expect the FPU program to eventually subside as sales pick up, but I don't see a whole lot of sales from the numbers. What is most telling is that there have been no PR's of sales in the US in a while, and we know that Butch is known to crank up the PR machine on even a single sale. Indeed, Butch and Bill are either vague or evasive when you bring up the FPU numbers. My personal feeling is that FPU expansion has stalled because they need to devote their entire resources at the moment to the Terumo rollout.
Well, I work for a Fortune 50 company and we have these partnership confidentiality agreements in place all the time, so it's actually pretty typical. I don't think BSDM is saying Terumo wants to keep MWA a secret. They want to keep their SALES a secret. Believe me, the way BSDM highlights single sales in the country, they would want to do the same in Europe if they could. BSDM is definitely a PR machine, so I have to believe that there is some NDA in place. You can look at the numbers in the 10-Q (disposables and well as revenues, backing out the 2 hyperthermia sales) and conclude that Terumo sales are not stellar but are slowly gaining traction. The fact that Butch called Terumo "methodical" and that they've not gone as fast as anticipated suggests the buildout is gradually ramping, but ramping nonetheless. I'm more concerned about the FPU program stalling in the US.
Poison pill is only for hostile takeovers. I'm talking about friendly takeovers. As to Butch's involvement, he claims 7. I was able to confirm 5. How do you know how involved he was? I don't think either of us knows for sure. Did you work for him or with him? Re the $6 figure, you can study the sale of Vivant in 2005, look up inflation rates on the gov website, bring that figure up to 2014. Then figure in the hyperthermia business, which is gaining traction in Asia. I don't have the spreadsheet with me, but it comes out to around $210M.
I agree re selling the company. I believe based on past sales of similar companies, the stock is worth $6 per share. But the company needs to prove to a buyer that there is demand for their products. Hopefully, the Terumo and Asian sales will bear that out. It's a good indicator that the company will likely be sold given that one of the board members holds 6M shares, is up in age, and Butch is known to flip companies (he's been involved in 7).
Not true that all the other med device companies are doing fine. Check CRDC. Small med device companies that require use in a hospital have a tough road ahead of them. Very difficult to break into. Hospitals have consolidated and are now giant corporations run by bean counters.
My personal feeling is that BSDM should have modified the MTX-180 for applications that can be done in a doctor's office, like the Thermatrx. That was a joint venture with Oracle Strategic Partners in the 2000 timeframe that sold 300 in 3 years directly to doctor's offices for the treatment of BPH (enlarged prostate). The business was sold because the partner wanted out and BSD pocketed $30M+ from that deal. So it's been 10 years. That equipment needs to be replaced. Why not do a Thermatrx II? Generate some quick revs and plow that into expanding the FPU program and in marketing to hospitals.
No raw nerve here, my point is what do you bring to the table? There is no reason why I should share any information with you, not that I would divulge the personal info I have. You have not made yourself valuable. Brjj has, through his connections. As to you trying to rattle my cage, it's not working. I am not fazed by name calling. I am a logical, methodical engineer. I don't care if you like me or not. I do my DD and that's what I'm focused on. My opinion: I don't think BSDM's products are the greatest thing since sliced bread. I see Europe at an inflection point, Asia on the rise, and the US stalled. The latter is what I'm trying to address with management.