MX1 - Micro-X Limited

[System]

Micro-X is an Australian public limited company focused on the design, development and manufacturing of ultra-lightweight CNT based X-ray products for the global healthcare and counter IED imaging security markets.

It is anticipated that MX1 will list on the ASX during December 2015.

http://micro-x.com

 

[Country Lad]

May be worth keeping an eye on this one. I bought in a couple of months ago when it was announced that Thales Group was taking a small stake. Thales Group has operations in more than 56 countries with a revenue in the order of A$26 billion and is the 10th largest defence contractor in the world.

MX1 should start receiving orders for their Micro-X produced x-ray tube and now have more control with in-house manufacturing. The agreement with Thales could very well see the Micro-X system incorporated in Thales’ high-speed airport checkpoint security system which is sold to airports around the world.
A bit illiquid with only 164 million shares, 30 million of them held by substantial holders.

 

[frugal.rock]

May be worth keeping an eye on this one. I bought in a couple of months ago..

MX1 should start receiving orders for their Micro-X produced x-ray tube and now have more control with in-house manufacturing.
A bit illiquid with only 164 million shares, 30 million of them held by substantial holders.

Still holding @Country Lad ?
Seems those orders have come through...in one go, due to Corona virus.
Orders were for the value of ~$780,000... not a lot of value just there?
Up today, closed up 29% at 0.20 but was 74% up at its high of 0.27.
Seems the virus hype has taken hold...
Not sure if they can smash out the manufacturing fast enough?
Been taken by surprise, by sounds of it.
F.Rock

 

[greggles]

Another Market Update released today. Looks like the Coronavirus is having a positive impact on sales.

Following the Market Update provided on 13 February 2020, Micro-X has now received additional purchase orders for Nano units totalling approximately A$1.0 million, bringing the total sales orders to $1.8million for the current Quarter. The majority of these sales orders will be recognised as revenue this Quarter and the balance in the June 2020 Quarter. These $1.8million of orders demonstrate strong growth and uptake as compared to $0.2M sales for the December 2019 Quarter and $1.9M sales for the whole of FY2019. These additional purchase orders are for delivery to Asia and Europe.

As with the previous purchase orders there is a requirement for urgent delivery within a 4 week time frame. The orders do not specify the end customer use although it is understood that due to the size and urgency of the orders, some of these Nano units are to be deployed in connection with the ongoing COVID-19 (formerly 2019-nCoVor Coronavirus) epidemic.

Micro-X continues to work with its supply chain partners to maximise its ability to respond to any future such requirements to deliver Nano units in a very short time frame.While the standard lead time for the delivery of a Nano is between 8-12 weeks from order date, Micro-X has been able to deliver its recent February orders within a time frame of approximately 4 weeks from order date.

As previously announced, early-stage diagnosis of Coronavirus is by a blood test to confirm the infectious agent, and a chest x-ray is used as an essential part of diagnosis of the development and progression of the severity of the illness. Like with pneumonia, a chest x-ray is used to detect fluid in the lungs, particularly with patients presenting with severe acute respiratory distress. The World Health Organisation has defined a criterion for diagnostic progression of the Coronavirus infection from ‘Confirmed Case’ to ‘Severe Illness’ as a chest x-ray with multi-lobar infiltrates or pulmonary infiltration which has progressed more than 50% within 24-48 hours.

Could be a nice ride up for MX1 if the virus continues to spread, but are these increases in sales sustainable once the pandemic is under control?

In any case, it's likely to be a good trading stock over the next few months. Share price has jumped up 14.7% to 19.5c so far today.[/QUOTE]

 

[Dona Ferentes]

Looks like the Coronavirus is having a positive impact on sales.

- yes, this is looking to be the case. Anything with less 'process' and bureaucracy would be welcome, but needing an investment from MX1. Let's hope the sales keep coming. (only talking of 'potential demand' at present)

"COVID-19 has significantly changed the mobile X-ray market across the world with delivery times required to be less than 4 weeks to meet the urgent need for imaging of infected patients. This demand has been driven largely by government health agencies using emergency procurement processes different from the normal purchasing or tendering cycles of 8-12 week delivery.

"In order to ramp up production and reduce delivery times, Micro-X has invested significantly in inventory, capex and additional resources supported by funds from the recent $15.0 million Placement and Entitlement Offer. With delivery times for new orders now at 4 weeks or less, this is expected to increase the potential demand for new Purchase Orders of the Nano."

 

[Telamelo]

MX1 shaping up nicely here @17.2c +7.5% after recent 'Rover' FDA (510)K Approval for sales in the US to begin.. market depth looks healthy/bullish too! DYOR Cheers tela

 

[Telamelo]

MX1 +9.38% thus far.. looking real good!

 

[Telamelo]

Noticed a "$350,000 cross trade on MX1 so worth keeping an eye on" as potential bullish signal! +9.38% yesterday

 

[Telamelo]

Noticed a "$350,000 cross trade on MX1 so worth keeping an eye on" as potential bullish signal! +9.38% yesterday

Conference call podcast https://micro-x.com/investor-call-recording-2/

Scott Power senior analyst at Morgans Financial had this to say (quoted per below):

Micro-X (MX1) stock rose after it got the anticipated FDA approval for its mini-Xray machine the Rover.

What was surprising about this is that it happened in a scant five weeks.

“That kind of turnaround from the FDA is very rare, which shows the significance of the technology and reflects the fact that it’s at the forefront with trying to help with this health crisis,” Power said.

“It’s hard to know why it was pushed through so quickly but the military applications — the US military want to buy some — the humanitarian applications are likely to have played a part.”

Cheers tela

 

[Telamelo]

Should be a good week ahead for MX1 as chart shaping up nicely to consolidate/mover higher imo

market depth looking healthier/bullish
89 buyers for 3,578,620 units vs 61 sellers for 2,085,207 units

Cheers tela

 

[Telamelo]

MX1 shaping up nicely +5.88%
112 buyers for 4,126,601 units vs 53 sellers for 1,989,778 units

 

[Telamelo]

Timeline of upcoming projects as listed on micro-x website:

1/. Sept. 2020: The Generator.

2/. Soon 2020: US Orders for Rover.

3/. CE approval (Oz and UK) for Rover.

4/. Oct. 2020: MBI Prototype.

5/. Dec. 2020: CT Funding decision of $14M.

Given the fast-tracking of the Rover 510K approval in the US it's reasonable to speculate that 'potential sales' are just around the corner so to speak imo

 

[peter2]

MX1 recently received FDA approval for their portable, lightweight X-ray machines.
Anticipating orders from the military as these x-ray machines are suited to mobile hospitals.

Weekly price trend has been going higher since the FDA news. I've included MX1 in my small cap portfolio as my limit order has been filled.

 

[The Triangle]

MC of 144m is a bit rich for me considering sales are only 4-5 million per year and losses around 10 million per year. Revenue up - but so are losses and costs of goods. What level of sales are required to generate a profit? My thinking is minimum 20x current levels which would probably take a few years to achieve.

$34 million in cash and no debt is a very nice 2+ year buffer to have - but the existing business is still loss making on the last quarterly and their strategy looks like it revolves around the American dream. Surely there are 50 companies doing the exact same thing in California, Germany, and South Korea right now? What can these guys do to differentiate themselves?

If you know a company is going to burn through cash on development and R&D - then why should it be valued at a premium?

I'm already invested in these guys with my tax dollars likely paying their government grants.

 

[Dona Ferentes]

and a good bit of publicity

Otherwise, MX1 struggling to be heard, $60 million Market cap, SP down from 40c in March 2021 to about 12c now

Ms Stadnyuk purchased five of the drivable x-rays for a discount, which she said had made a huge difference to providing patient care.

"We've heard from doctors how great it is to have those devices there and it's super-helpful in delivering imaging at the point of care," she said.

'I'm not a fighter. But I can drive': Businesses and volunteers lend a hand to get crucial supplies to Ukraine

When Shaun Hopkins discovered charities were having trouble getting supplies into war-torn Ukraine, he took matters into his own hands by making the 22-hour drive from London himself. An Adelaide business is also supporting the cause, supplying discounted x-ray machines.

www.abc.net.au

 

[Dona Ferentes]

and a good bit of publicity

Otherwise, MX1 struggling to be heard, $60 million Market cap, SP down from 40c in March 2021 to about 12c

and 10.5c was about the low, in June ... bouncing along

MX-1, which is in carbon nanotube based X-ray technology for health and security markets globally, is pleased to announce a strategic collaboration with Varex Imaging Corporation, the world’s largest independent manufacturer of x-ray technology components.

The collaboration comprises an exclusive global licence for a non-refundable fee of $7.5M (US$5M), enabling Varex to use Micro-X’s NEX technology in the field of multi-beam x-ray tubes, and an equity subscription to achieve a 9.9% Micro-X holding totalling $7.5M at a 10% premium to the 15-day VWAP

 

[peter2]

Hmm. DF has beaten me to it. Interesting possible price reversal on MX1.
Latest news that US Homeland Security has extended its development contract with MX1 for their miniature baggage scanner.