GREEEAT QUOTES AND STATS FROM THE JUST RELEASED 10k
Quarterly sales of Intacs per employee: 1.3
meaning they sell about 5 intacs each year per each employee. Wow, talk about market penetration. I think its more like shareholder penetration --- dry and quick from behind. The big BF, cold and nasty!
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KeraVision has generated only limited revenues to date and has experienced significant
operating losses every year since its inception in 1986. We expect to continue to experience
increasing expenses as we expand our sales and marketing efforts, and we expect to continue to
incur substantial operating losses until sufficient revenues can be generated to offset these expenses. We cannot predict the amount of our future operating losses or the length of time required for us to achieve and sustain profitability
meaning bankruptcy is sooner to come than profitability.
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Until recently,
KeraVision has sold its product primarily in Canada, France and Germany and generated only
limited revenues. KeraVision only began selling Intacs in the United States in the second half
of 1999. Many surgeons have already invested significant time and resources in developing
expertise in other corrective ophthalmic surgical techniques and may be unwilling to devote the
time and resources necessary to incorporate the procedure for Intacs placement into their
practices.
meaning bankruptcy is near since no one buys, and ESPECIALLY important, no surgeons want to sell INTACS. Both have pain, the patient and the surgeon. Ooohhh, boss, boss, da pain, da pain. Also, limited revenues = no revenues!
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We intend to market our products to people whose vision can be corrected with eyeglasses or
contact lenses. We cannot assure you that these persons will elect to undergo surgical insertion
of Intacs when nonsurgical vision-correction alternatives are available.
Duh! I guess it didn't take a brain surgeon to figure out that people don't like expensive surgery when they spend $20 and get an immediate fix with contact lenses and no halos or pain or night time glare.
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We have limited sales and marketing experience and may not be able to successfully sell or
market our products.
Well, speak of the devil, you guys couldn't sell umbrellas in a rainstorm let alone Intacs to those who don't want them.
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KeraVision may not be able to execute its business plan if a significant amount of capital is
not available to it in the near future.
Well, looks like they are admitting that even after the secondary offering, management is going to burn through this cash like lighting a match and watching it go out!
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KeraVision will need to find a new supplier for the raw material we use in manufacturing our products. Our sole supplier of polymethylmethacrylate (PMMA), the polymer raw material used in
manufacturing Intacs, no longer provides the particular material we use for Intacs
don't matta anyway cause no one wants to buy the stupid things ...
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KeraVision may not be able to successfully compete in the highly competitive field of vision
correction.
that's an understatement, as its clear they can't and have proven so resoundingly, now we're just waiting for bankruptcy!
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Long-term follow-up data may not demonstrate that Intacs are safe and effective. Complications associated with Intacs may affect KeraVision's ability to gain market acceptance
Oooh boss, da pain, da pain!
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Although we have been
selling our product since 1996, we expect to continue to incur substantial losses until
sufficient revenues can be generated to offset expenses. Given the uncertainties in developing a
market for a new product, we may not be able to achieve or sustain significant revenue growth in
the foreseeable future. Furthermore, we expect our overall expenses to increase as our sales and
marketing activities grow.
The next thing they need to admit is that they are not a going concern!
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Finally, KERA management has burned through over $300 mln since the inception of this idea. Its going to burn through at least another $50 mln before it goes into bankruptcy.
What a waste! |
