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PSY 3.9¢

New thread

  1. 1982

    2,742 Posts.
    Thought it was timely for a new thread, the travel cost one is annoying.

    This taken from the investor report late last year..

    "In September we announced the successful raising of $7 million, which allows us to carry out our commercialisation strategy for the LumiMEMS™ Reader. It gives us working capital for the foreseeable future and opens up options for us to be a vertically integrated manufacturer of unique products. It also allows us to strengthen our management team with new key appointments such as those of Dr Chaffey and Dr Washer.
    Our objective now is to bring the LumiMEMS™ Reader to market as quickly as possible through the development of the benzene detector and similar products for other industries.
    In addition, we continue to have discussions with various industry representatives about potential licensing agreements. Many existing commercialisation opportunities do not require a prototype. We are in discussions with people who have looked at the laboratory results and the science, and would prefer we went directly to building a product. There will always be ongoing testing of the product and in some cases, working with the organisations who oversee compliance, safety and regulatory matters.
    Meanwhile, we have begun discussions for the manufacture of our product on a commercial scale.
    In addition to our commercialisation plans, we continue to educate the markets on MEMS and the world of new potential applications provided by the LumiMEMS™ Reader. This will help drive new partnering opportunities, encourage new investors and, most importantly, deliver ongoing value for our shareholders.
    I look forward to reporting on further progress over the coming months."

    I found it useful re-reading these comments from Terry, as it confirms that even though we haven't received an update for a while, apart from the quarterly, there would be a mountain of work going on at PSY HQ. Discussions for commercialisation, manufacture etc. The discussions should be quite advanced from December, and we really could receive news, or go into a TH at any time.

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