not vested
Ekso Is Set to Conquer the Most Valuable Unstoppable Trend of All
by Keith Fitz-Gerald
Source: Money Morning
http://totalwealthresearch.com/2015/05/ ... /#deeplink
Summary
EKSO insider Adam Gottbetter jailed for fraud, while other EKSO individuals face further allegations. SEC's FOIA shows EKSO facing (or faced?) law enforcement investigation, where is EKSO's disclosure on this?
Boston Dynamics states "nothing to do with EKSO" and any work together completed months ago, Lockhead states FORTIS "not an Ekso product" and "independently designed" by LMT and Robrady.
Previously presented EKSO “Charter Clinics” now supporting competing products, and stating competitor products are superior. Industry shift towards rental/lease leaves under-capitalized EKSO in an impossible situation.
Huge global companies now competing with EKSO and demonstrably superior and cheaper products.
EKSO's founder left the company and founded competing company with 1/3 the price and 1/2 the weight.
Accelerating cash burn, product failure and EKSO's financial architect jailed for fraud as insiders register to sell stock with paid stock promotion make 35x sales and ~$200m valuation clearly unsustainable.
Ekso is now a commercially-viable operating entity with an FDA-approved device in its toolbox.
That makes Ekso the first and ONLY exoskeleton company approved for stroke victims, in addition to more conventional spinal injuries. It gives the company a significant competitive advantage over commonly-cited alternatives like ReWalk Robotics Ltd (NasdaqGM:RWLK), Cyberdyne (Tokyo: 7779), and Touch Bionics, which is pending on the London stock exchange (2817850Z:LN), as well.
Selected financial highlights include a jump in medical device revenue to $8.1 million compared to $1.0 million a year prior, and gross profits of $1.5 million compared to only $0.4 million in Q1 2015.
The global exoskeleton market is expected to increase at a compound annual growth rate – a “CAGR” – of 50.85% from 2016-2020 at a time when other more conventional technology markets are in decline or have merely stabilized.
Ekso GT product received FDA clearance for use with stroke and spinal cord injuries to C7 in April of this year.
The FDA clearance means that the Ekso GT is the only exoskeleton specifically cleared by the FDA for hemiplegia resulting from stroke, and the only exoskeleton clear for spinal cord injury treatment and rehabilitation in the critical upper thoracic and cervical spine areas.
The FDA approval means that Ekso now has an addressable patient population of 263,350 people annually, up from only 11,650 annually in the U.S. alone, according to CEO Tom Looby.
That means Ekso’s addressable market is 23x all other competitors combined.
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