Re: Welcome Jackfree
in response to
by
posted on
Oct 25, 2012 06:45PM
Paramagnetic Beads and QL Analyser are Proprietary Products
Jack,
I did not and do not feel that you were "...infringing or stepping on toes"; I was hopeful that some event sparked your and other potential investors with an interest in and knowledge of the in vitro diagnostic market to consider investing in Cardiogenics.
FYI, I have more than 25 years of management experience working with healthcare companies. My interest in Cardiogenics technology platforms stems from my experience recognizing the need for Point of Care (POC) diagnostic tools to assist patient management in hospitals and clinics.
IMO Cardiogenics' silver-coated beads, POC analyzer and test-specific cartridges have significant commercial opportunity. If the Company demonstrates in clinical trials the theoretical advantages they have demonstrated on the lab bench IMO this potential will be recognized and reflected in the share price.
FYI months ago Dr Gawad publicly presented a development time line that promised this proof and submission of a 510K file to the FDA by now. Unfortunately he has failed to meet this time line which has resulted in the share price declining from a high of $1.41 to its current price.
This failure to perform as promised is compounded by the Company's "going concern" letter from its Auditors. At the end of June the Company's 10Q indicated a burn rate that would consume all of the Company's cash by the end of August 2012; this is coupled with the fact that Cardiogenics has not issued a PR or filed an SEC document that would confirm they have acquired funding.
IMO the technology has significant commercial potential and I have invested accordingly. I also have real doubts that Dr G should be managing this publicly traded company; IMO the Company should retain Dr G as Chief Scientific Officer and hire a CEO with extensive competent experience managing a start-up publicly traded IVD Company.
As you conduct your due diligence, please post your findings as this board welcomes your input.
Ante