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...