When I saw this announcement I tried to remember where I'd heard of this company before. At first I thought it was Respiri, which is one of the worst companies listed on the ASX. But then I recalled it was a company I posted about a couple of weeks ago after it released positive results of its COVID detecting phone app. In the post I was skeptical of the ability for COVID to be accurately detected from the sound of your cough and felt it was likely a promotional ploy to ramp the price ahead of a much needed capital raising. In fact I went as far as saying "I'll shout the Strawman bar if we don't see a capital raise on the back of this in the next couple of weeks." I'm still skeptical but it's ResApp's shareholders who are getting the last laugh as Pfizer has offered to buyout the company at a substantial premium to its current trading price (although a steep discount to where it has previously traded). Credit goes to management for getting this over the line and patient shareholders who have held on through thick and thin.

Bar is open...

ResApp announced positive results for a new app that could diagnose you with COVID from an app just by the sound of your cough. Apparently it uses "machine learning" to produce an "outstanding" level of results. The share price rose as much as 65% on the announcement. What can I say...color me skeptical.

This from a company that has racked up over $40m in accumulated losses and delivered revenue of $81k last half. A company that has been rolling out 'regulatory approval' and 'imminent commercialisation' announcements since at least 2015. Most crucially a company that saw $3.2m exit the building last half and had less than $3.4m of cash on the balance sheet as at 31 Dec 2021. I'll shout the Strawman bar if we don't see a capital raise on the back of this in the next couple of weeks.

I enjoyed this tweeted reply...