A handheld device that can be used in the field to test for Ebola was highlighted on Fox Business News Thursday. Test results are within 20 minutes and with the next generation device, within 10 minutes.
The company will not have a mass market version available until twelve months out – the projected cost of the device is $5,000 and $20-$50 for each test.
The company has 108 million shares outstanding – cash on hand of $130,000 and an annual burn of about $2.3 million. Revenue is the same as zero at this point in time. The market cap is about $6 million. Debt is $3.6 million.
Something has to happen for this stock/company to move forward. A money raise – a buyout – a partnership or licensing the technology are possibilities. Alone and without money the product isn’t going anywhere. In fact without a cash inflow, the company does not look like it will survive. Licensing the manufacturing and distribution of the device and reagent seems the fastest way to market.
The company PositiveID does have a working partnership agreement with privately held ENSCO.
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