I know, I just went way out in left field with this month’s purchase. It pays no dividend, is running at a loss and will probably end up being a home run or belly up. But I decided to gamble a little since my 2017 dividends will surpass last years’ next week.
As many of you are aware, I suffered a series of strokes a few years ago which probably fanned my interest in Nexeon MedSystems, Inc. (NXNN), which began trading on the OTCQB market on September 27th. They are challenging – and improving – conventional therapy through a neurostimulation system that can be utilized to treat a variety of neurological diseases such as inflammatory bowel disease, arthritis, hypertension, and . Research is underway for additional therapies including and diabetes
They also have sold or spun several divisions similar (though on a smaller scale) to how Safeguard Scientifics (SFE) operates.
The listing process is a little unusual in that their S-1 was declared effective in June and trading beginning in September. They expect to uplist to a major exchange which (my guess here – the company provides no estimate) will occur once FDA/CE approval is obtained to provide a catalyst. They currently have a manufacturing plant in Belgium and a small R&D operation in Puerto Rico (which has moved to the mainland due to the hurricane). Also, issues I have are ownership concentration in one family, two directors having been associated with a company the SEC has deemed delinquent in its’ filings, limited cash on hand and volatile price action as a pre-IPO issue. We’ll see if the positives ultimately outweigh the negatives. I initially purchased a less than 1% position at $1.49 giving me the ability to average down in a couple of more tranches if the opportunity presents itself.
Update 9 Nov 2017: A similar technology was featured in the NCIS New Orleans episode The Accident on 7 Nov 2017 (S04 E07). Note to self: review hack threat.