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Voted on a straw in #Bear Case for K2fly Limited by Rapstar
4 days ago
#Bear Case

Deal with Canary Capital for "marketing services" in October 2020, was a big red flag for me.  Payment in the form of cash and options @ $7.5K per month.   

K2Fly has negative net tangible assets,  with intangible assets and goodwill making up over $6M in assets on the balance seet.  

K2Fly also have a $3.2 M liability of future payments for the SATEVA acquisition.  This liability is for 18% of all invoiced amounts for SATEVA Software products, but it includes consulting sales, which are low margin.   This is a bad deal IMO.   

Their gross margins have improved, and are now over 50%.  However, the concern is SATEVA is incentivised to grow consulting services revenue, which is not high margin SAAS revenue.  

Two trading updates in the space of a week prior to another capital raise - not a good look. 

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Voted on a straw in #ASX Announcements for Dubber Corporation Limited by Slats
6 days ago
#ASX Announcements

Dubber Announces Unified Call Recording and Voice AI with Zoom

  • Dubber delivers recording for Zoom and Zoom Phone
  • Helps to enable fulfilment of increasing regulatory requirements in relation to ‘work from home’ and distributed workforces
  • Dubber with Zoom allows secure UCR and Voice AI for businesses of all sizes

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Voted on a straw in #Bull Case for Antisense Therapeutics Limited by WelshBuffett
7 days ago
#Bull Case

I have extracted the below, from a recent article published by Stockhead.

ANP is a biotech company researching a potential treatment for Duchenne’s muscular dystrophy.

“The company has made strong progress recently but we view the next 12 months as particularly important with a large number of catalysts and events unfolding giving further clarity on costs, trial design, new indication and potential for partnering discussions to commence,” Morgans said in a research report in February.

The company is working on possible new indications for its drug candidate and could soon announce details about a pivotal European phase 3 drug trial.

ANP shares are already up 76 per cent this year to 23c.

“That’s one that’s had a good run — but it really looks like it wants to run harder.”

Morgans rates Antisense a speculative buy with a price target of 37.7c.



Like all Biotech's success is never guaranteed. However, they have recruited well and have hired the following from large med tech (Sarepta) Goolsbee and Dr. Price and most recently Dr Charmaine Gittleson from CSL.

Like all Biotechs, success is never guaranteed! However, this company have recruited well and have hired the following from a large med tech (Sarepta) Mr Goolsbee and Dr. Price and most recently Dr Charmaine Gittleson from CSL.

The company is awaiting regulatory approvals from Europe and the USA. The FDA has granted the company with a Type C guidance meeting, which is scheduled for 19 April 2021. At the meeting they will discuss the further development of ATL1102 in Duchenne muscular dystrophy (DMD) in the US. The company has advised that they will be in a position to brief shareholders on the meeting in May 2021.

The SP has seen some good gains in the last few weesk. However, I tend to agree with Morgans that the price is still under valued based on the potential market for ANP's product.

Despite a 70% rise in the SP, there is still plenty of room left for a bigger rise, if the company has a successful meeting with the FDA next week!

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Voted on a straw in #ASX Announcements for Mach7 Technologies Limited by elpaso96
7 days ago
#ASX Announcements

Q3FY21 results came yesterday and it did not disappoint

  • Cash receipts of $8.2M as most of Client outlook revenues are recognised this quarter compared to previous quarter.
  • Positive operating cashflow from operations. In other words capital raises would be for acquisitions not for running the business. 
  • Cash on hand $18M which is a handy buffer. I believe they still have to complete the acquisition of Client Outlook. Will recheck my notes, it was $40M so it was quite expensive from a balance sheet perspective. To determine whether Client Outlook is a good acquisition is to check how quickly Goodwill decreases every half year. If Goodwill stays the same they have overpaid and my early suspicions would be right. 
  • They generated $12.84M of new sales this quarter. That is quite astounding as last year (FY20 ~ $10M). One quarter outperformed last financial year. 
  • They are winning more orders with exisiting customers. Case in point Adventist Health System West: 
    • Winning Adventist lead to 8 new orders. 
      • 7 of them is a data migration deployment. Where the hospital group is migrating away from legacy system. 
      • 1 of them is a full PACS deployment. 
    • There are 22 sites, Mach 7 has started on 1 site. The likelihood of deployment to all sites is very high. Very sticky customers after long tender process. 
  • The company is renewing contracts, increasing revenue per customer with more customer deployments. It’s just a question of how much can they extract per customer and how many new customers can they win?
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Voted on a straw in #ASX Announcements for Mach7 Technologies Limited by GetSmart
a week ago
#ASX Announcements

12 April 2021


  • Record quarterly cash receipts $8.4M (98% increase over Q2)
  • Q3 positive cash flow from operations $3.3M (375% increase over Q2)
  • Cash on hand has increased to $18M (from $14.4M Q2)
  • Q3 sales orders $12.8M (Q2 $7.6M), $23.6M YTD (TCV1)
  • Customer deployments continue to make good progress
  • 2021 Global Enterprise Imaging Solutions Product Leadership Award by Frost andSullivan