Sizeable contract for Resonance Health [ASX announcement]. Worth about double their recent yearly revenue. A couple more like these would be great.

Hopefully some good contract news to come [ASX announcement].

Chapter 2 — A Tale of Two Companies

The stories of both Anteris (AVR) and Resonance Health (RHT) began in Western Australia. For reasons that are no longer important Anteris could never stay there. Circa 2017 Anteris (then Admedus) had significant G&A expenses, largely a result of feeding its army of US-salaried salespeople who were tasked with peddling its CardioCel collagen tissue product to doctors and hospitals across the expanse of North America.

For reasons which I think remain important, Resonance Health wasn’t doing that type of thing. They weren’t really in the spending money game. They didn’t seem particularly promotional or showy. They seemed to prefer the country life. Sure, in tough times they weren’t too proud to whip the hat around, as country folk often do. But there didn’t ever seem to be that existential do-or-die-master-of-the-universe-flooding-your-inbox-Uber-land-grabbing-appealing-to-the-greedy-rabid-online-trader-forum aspect of their capital raises. And whatever they were subsequently doing with that money it wasn’t being frittered away on their website development. Whatever they were doing as a company they seemed to just be getting on with it quietly. For whatever reason at the time, I liked that about them. It kind of, resonated, you know.

Pablo E. Bruh goes back to the drawing board — the story so far…

Several years ago things weren’t looking so great for my premier med-tech holding Anteris (AVR) [formerly Admedus (AHZ)]. I found the constant ASX suspensions, low insider investment, it’s apparent addiction to being at the brink of insolvency, and my own huge unrealised capital losses to be a source of great discomfort, unease — and of course — introspection. I decided that I had made a mistake investing in a company with a poor balance sheet, minimal revenue, and little director ownership. Realising this mistake, I then set out and conducted filtered searches in the ASX biotech/med tech/pharmaceutical space for what I saw as high-risk high-reward opportunities that had no debt and high inside ownership.

I found Resonance Heath (RHT), did very little further due diligence, scraped together my remaining available savings I’d allowed for ASX follies, and then promptly committed another personal capital allocation mistake.