Here are my reasons for having at least SOME optimism:
1. Cash flow in the short term is no longer a problem, with a million in cash coming from ITI. Beyond the latter part of this year, it may become a problem again, depending on any other deals Rash can do and any ramping up of revenues through MRI.
2. ABMI will HOPEFULLY reduce its cash needs considerably by the shutting down of Irvine Cathlab facility.
3. ITI has shown enough interest in Omnifilter (a million bucks cash) that it is fairly reasonable to assume that they will move rapidly toward approval. If 510k approval is possible, it could happen in a matter of months. News of that approval, ALONE, will push this stock much higher, as they will be essentially first to market with such a product, guaranteeing solid market share for at least a while. On the other hand, delays in approval (such as FDA demanding extensive clinical trials) would be a serious problem.
4. MRI is more of a mystery. If they really get on the stick, and show an interest in selling the catheter products, ABMI MIGHT achieve profitability from that source alone. I'm not as optimistic here, though. They need to show me something.
5. As mentioned at Raging Bull board, and I saw it myself in the 10K, ABMI is taking at least some steps to increase its own distribution network sales, including a force of commissioned sales reps.
6. Our success is now largely in the hands of ITI and MRI. I must admit we don't know a lot about these companies, since they are privately owned. But they have LOTS more cash to throw at these products than ABMI does, so I'm more comfortable that THEY will get these products moving than if ABMI was still trying to do it by themselves.
We're all sick and tired of seeing ABMI forced to sit on some potentially great products, due to lawsuits, lack of cash, etc. We just may finally be at the point of seeing some progress.
No guarantees. No pie in the sky. ABMI is still a risky investment. I just think that we are closer now to seeing progress than at any time. If these products, especially Omnifilter, are as attractive as some of us think, then we may just make it. |
