The Group is engaged in the design, assembly and distribution of advanced therapeutic solutions for the minimally invasive treatment of complex vascular diseases. The Group collaborates with industry specialists and physicians who are key opinion leaders to develop and offer physicians and patients new and differentiated devices to improve outcomes in complex peripheral and coronary interventions.
Despite all the positive news for the whole of September, market have not been kind to QT which follows the Eillot Wave Direction.
Sounds pretty serious.... best not to touch even though it is hitting new lows.....
UPDATE TO LITIGATION
Unless otherwise defined in this announcement, all capitalised terms used herein shall bear the same meanings as ascribed to them in the Company's offer document dated 16 April 2014 (the "Offer Document").
The Board of Directors of the Company would like to provide the following updates to certain ongoing litigations which were disclosed in the Offer Document. As previously disclosed in the Offer Document, AngioScore, Inc. (“AngioScore”), an angioplasty company, initiated patent infringement proceedings on 29 June 2012 against the Company's subsidiaries, TriReme Medical, LLC (“TriReme US”), Quattro Vascular Pte. Ltd. (“Quattro Vascular”) and the Company's CEO, Dr Eitan Konstantino (“Dr. Konstantino”), relating to the Chocolate PTA (the “Patent Claim”). The Patent Claim is currently scheduled for trial in September 2015.
On 27 June 2014, AngioScore added claims under Delaware and California state law (the “State Law Claims”), alleging that Dr. Konstantino breached his fiduciary duties to AngioScore by developing the Chocolate PTA and that TriReme US, Quattro Vascular and the Company aided and abetted the alleged breach. The trial phase for the State Law Claims closed on 21 April 2015 and the trial court requested post-trial briefing prior to rendering its decision.
The Group believes it has meritorious defenses against both the Patent Claim and the State Law Claims (the “Claims”); however, the Company cannot predict the outcome of this litigation. There is also no assurance that the Claims will not reduce the value of, and the market for, the Company's products, thereby materially and adversely affecting the Company's business, financial position, results of operation and prospects.
The Company will update shareholders of the Company as and when there are any material updates to the aforementioned litigation, including its financial effects on the Group.
BY ORDER OF THE BOARD
Mark Allen Wan Non-Executive Chairman 29 April 2015
I learned 3 lessons: 1) There are plenty of opportunities in the market. It is so easy to make good money if you have the kung-Fu. 2) There are just enough risk investing in stock market. It can make a poor person very poor. 3) Remind me of The three rules to survive in trading, "Cut loss, cut loss and cut loss". I have many relatives still holding counters such as Jadason, Life Brandz, Advance SCT, and Metech(Aka Centillion) . The value of these stock now is only about 1-3% of their prime-day
Chan Kit Whye: "Obtaining approval for its coronary Chocolate PTA Balloon Catheter is different altogether from getting market share and growing the business to become profitable, sustainable and enhance shareholders' value." ~ 16 Jun 2014
The future of vascular medicine ~ The story of QT Vascular (QTV) has never been about its turnaround. It is about how a tried-and-tested technology is finding its way back to the physician’s table, after a breakthrough. It is about how one can participate in the growth of an early-stage medical company with a star-studded cast of expert investors. ~ 30 May 2014