The noise around rapid COVID testing (RAT) in the media is increasing in volume. Premiers and medical experts are starting to recognize the need and have started using these tests.
Anteotech's Eugeni reader is fast accurate and can store data. The data storage will be important for mass testing at borders, stadiums, airports, FIFO workplaces, large employers.
Sales news for Anteotech has been slow but they have signed up distributors in UK, Aus, SE Asia with more expected to be signed up soon. These areas have an estimated population of approximately 500 million people. The distributors are working on final approvals for sales in these areas.
The company has been quiet of late regarding sales even, though they were quite vocal about 'upcoming sales' earlier in the year. I am hopeful that this delay is due to the final approval process for each country/area.
Until solid sales are confirmed the share price will continue to languish and the fear that they have missed the boat will increase. I think the market is huge and growing and will be around for a lot longer than we would like. I anticipate news on sales to start around late September.
