That’s an excellent summary, thanks. I have just a few comments to add.
>4. The company has implemented a Fee Per Use marketing strategy to overcome initial marketing troubles related to the economy.
The FPU plan also provides for what amount to easy clinical trials! With the FPU sales reps now trained to also provide training to users and with super-easy set-up for trials, each initial use by any doctor is more-or- less automatically a local clinical trial. That is, other doctors will likely observe, or at least become aware of, the use and results. I think the sudden jump in outright sales of the MTX-180 is, at least in part, due to this educational aspect of the FPU plan.
Negatives:
>3. The balance sheet is running low on cash. Again this is not terrible as there is not debt either, but I am not sure if BSD will choose to acquire financing of some sort. It is also worth noting that I (my opinion) expect profitability in short order and BSD would likely be able to make it to profitability prior to needing more money. >
I fully agree. Also, they own their premises and have, I believe, established production capability for levels much higher than at present. Further, they should be able to get bank loans to cover inventories or to meet increased demand. Also, much of the “heavy lifting” re marketing has been done.
>I have mostly avoided the other machines (BSD 500 and 2000) because the sales of these machines are not nearly as predictable nor is the success short term going to be comparable to that of the MTX-180. Both machines are proven effective cancer fighters and both machines will have their day, but the MTX-180 success is imminent and should be the initial focus of any investor looking at BSD. <
That’s basically my view, as well. However, I expect full FDA approval for the 2000-series machines soon (the many Phase 3 trials are proving very positive). And, I expect a big jump (doubling, at least) in sales of these machines. If so, this alone could bring BSD M close to or actually in a state of profitability. Further, far higher sales than just a doubling for the big machines can be expected – timeline uncertain, of course; but the potential net market is worldwide and, I believe, well into the thousands. Does this not suggest yearly sales might eventually reach well into the 100s?
BSD M also has other new products under development. I have no specific suggestions as to what these might be, but I think electrohyperthermia will have a number of therapeutic applications other than just cancer therapy. At least, BSD M keeps reminding us that other products are planned. |
