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INSIDE $NMTC - NUEROONE MEDICAL TECHNOLOGIES | CEO DAVE ROSA
Recorded: Feb. 9, 2026 Duration: 1:03:51Space Recording
Short Summary
In a recent discussion, market analysts highlighted significant trends affecting the crypto landscape, including unexpected sell-offs in defense tech, the impact of margin calls on Bitcoin, and the cautious outlook due to geopolitical tensions. Amidst these fluctuations, opportunities for growth in crypto trading platforms like Coinbase and Webull were noted, alongside a focus on diversification into sectors like energy and defense.
Full Transcription
Thank you. What is up everyone?
Welcome in.
Happy Monday. Happy Super Bowl hangover Monday, where the
market just floated higher. So pretty good morning overall, I guess, looking across the
markets. A little interesting here. A lot of action has happened since we last spoke
last week. And I know we have a great interview on the back half of the show today. So I'm
not going to take up too much time here. I'm going to jump straight into it a little bit. Let's see. That co-host is always fun to try
to get over to Ben. We'll give that to you here in just a second. But Ben, I think you got it
there. Okay, perfect. Ben, we'd love for you to go ahead and kick us off here. I know we've got,
like I said, a great interview happening in the back half of the show. So let's jump straight into some of the market thoughts. Yeah, well, let's start with
last week and what happened there. You know, it was, I did not expect the sell-off we had
in some of those really hot sectors, defense tech specifically, but it impacted all of them, right? Defense tech,
space, rare earth, nuclear, you know, all those hot government backed sectors just imploded
last week. And it happened right after the budget was signed and right after some good
news on drones as well. So I was caught off sides when that happened with defense tech.
And looking back, I mean, I think it was probably catalyzed by,
you know, when it all started, you know, I had it in my morning note too.
To the day, I marked the top in gold and silver when I said,
this parabolic move in gold and silver is something something's about to break, basically.
Like that's not normal and that's going to cause something to break.
I didn't know what would break, but I went to yellow alerts then.
And eventually that led to crazy margin calls, I think, which just went from sector to sector, eventually got to Bitcoin, which may have its own reasons why it was selling off.
Bitcoin, which may have its own reasons why it was selling off, but then when Bitcoin
sold off, I think that set more margin call selling and eventually got to the sectors
that did the best this year.
Man, they brought some of those things almost back to no profit on the year.
I mean, there were so many in the defense tech sector.
Stocks were up like 30%, 40% this year, and they took them almost to break even.
So it was like, you know, this catalyst and margin call selling,
which led to profit taking in those really hot sectors.
So I think that's what happened last week.
And it bottomed, you know what it bottomed?
We were chatting Thursday night.
You nailed it.
I was looking at Bitcoin.
I was looking at the 200-week moving average, and I'm like, yeah, 58,000.
Looks like it could be headed there.
I was talking about that for, like, almost a full day before we got there. But then we got to $60,000.
You bought at $60,000. You nailed that. You're like, I'm looking for a $10,000 move. And then
when you mentioned that, I'm like, all right, I could buy that because that's kind of like a
psychological, maybe you're looking at something different, but I was looking at the 200-week
moving average. And then the $60,000 is kind of close enough.
You round up that number.
It's a big psychological level.
So actually right after we had that conversation, I went into the discord and I'm like, this
could be the bottom on Bitcoin here, 60,000 Thursday night.
And then we recouped all of our losses and then some, because on Friday I went to like, you know, aggressive long, the thesis being
Bitcoin is bottom tier and all that margin selling happening and all those hot names
that's going to reverse.
So we were all over that last week and ended up being green last week.
And I think right now we're just seeing a continuation of that.
I mean, there are countless, countless charts right now that are still oversold and are
moving up to their 20-day moving averages.
There's countless charts.
So we're still enjoying the rebound off of those levels.
And that's kind of where we're at.
So congrats, EMP, on that crazy call on Bitcoin.
I don't know if you sold at 70,000 after that 10,000 move you wanted.
But the last thing I'll just say on the macro is that there are some risks this week.
So I think we're seeing this oversold bounce.
But we have CPI Friday.
We have Iran that can escalate at any time.
And let me just check the –
Jobs on Wednesday too.
What's that?
NFP is on Wednesday now.
Yeah, okay.
I mean, I don't think that's a huge deal obviously will impact the
market for a few hours but i don't think it's like directionally would change the market whereas
like cpi can um bitcoin this morning when i looked at it i'm like i'm not so sure that was a nice
bounce off 60 but i'm not sure if you know it might retest it so that's another thing to to
watch if we if we do have another downdraft and a retest of 60, we can see kind of similar margin selling across the board.
But overall right now, kind of riding this oversold bounce on a lot of quality names and it's working out well.
Yeah, I appreciate the kind words as well.
I did sell most of it at that 10K bounce target. And just a little bit of runners here on the Bitcoin trade.
I also bought like some Coinbase and stuff down there in the after hours just to kind
of try to capture that move across the board.
But I think it could go either way to your point there.
I think it could go back down and test 65, 63, 60, or it could go ahead and finish this
back test to the last year's lows at 74 and change.
The EMA 9 is coming down kind of in that area, 73 at this point.
So it's interesting. I don't know what it's going to do from here, but I got the trade basically that I wanted on that.
And I kind of liked that the 200-week moving average or whatever was down there because I feel like enough people were looking for that that then they were going to have to chase on the bounce.
And so I kind of used that as like,
I actually like that that's down there because I feel like people are going to be like,
oh, it's bouncing now because it was so oversold.
I think it's bouncing now.
And I think that kind of helped give that,
you know, kind of 10K bounce move there.
But enough of my thoughts there.
I appreciate you, Ben, getting us kicked
off there with the different thoughts. Obviously, software getting absolutely brutalized. There's a
lot of good companies out there that are very oversold, very beat up right now. So that is
interesting to me as well. Laptop, let's go over to you next and see what thoughts you have around
the broader market here. Hi, good afternoon, everybody.
Yeah, so for me, now the markets are flashing this, my bright green signal for me,
for the overall sentiment. You know, we saw, you know, I think we're seeing with the crypto drop, traders just got sour, I think, on crypto and not moving.
If there were any margin calls that affected some of the market, which very likely,
probably the first thing to sell maybe to cover cash in your account might have been crypto.
So I think we're seeing with that and with crypto kind of falling out of favor,
that's like a like a trillion dollar rotation into the next obvious thing would be stocks and then perhaps precious metals.
But we're seeing recent news like mixed jobs data. We've had sluggish growth, but
dropping the unemployment rate. There's a mix of optimism and caution, I think, which now sets the stage for these
potential surges again in undervalued plays. The big flaming red alert for me is, again,
geopolitical concerns. However, there's plays to be made in that. I think Ben mentioned, I think he mentioned drones and some of these defense techs. So I'm very much encouraged by
watching the drone sector today. And I'm still touting energy. I've been pounding the table on nuclear uranium rare earth minerals those are all doing well today and i'm
pleasantly surprised and very pleased to see that we've come back so quickly off of that
so that's what i see now i'm also watching japan with the confidence vote for the prime minister, I'm very much supporting and looking for to see what the Japanese government and the Bank of Japan is going to do and how that's going to affect U.S. markets because they are big security holders for us.
Other than that, I know a lot of people
maybe don't do currencies.
I do some, but that's my only concern there
other than geopolitical.
But my other signals for precious metals,
for stocks, for the general news cycle
are all pretty green right now.
So I have it there for you
and maybe a couple of stock picks
to play a little bit later.
So back to you.
Beautiful laptop.
Appreciate you sharing your broad market thoughts there.
Interested to see if there's any names on your radar when we come back around here in just a moment.
Ariel, let me go over to you and see what thoughts you have, broad market here.
Do you still want me to call you Ariel, I guess?
Or what do you want us to call you at this point? Always Ariel. I think you've done a great job all these weeks, months
that we've been doing this. Beautiful. What thoughts do you have, Ariel? We'll stick with
that. What thoughts do you have around the market here as we've kind of trucked through some earning
season and obviously there's some scares in the market, wall of worry, a little sell-off. Are we bouncing back?
What's your general take? Yeah, it's a really good question. I mean, you know, last week,
I was sitting on my hands. I didn't know what to do. As mentioned on this already call that,
you know, you had a couple things break, right? You had the gold and silver market break,
so to speak. And then you had, then you had literally crypto break as a whole.
A lot of people that were in crypto got smoke and now they're starting from scratch again.
I have also a lot of my buddies in the trading universe and investment world, unless they're like longer term holders and the traders, a lot of them lost money.
Because it's really hard to catch the big rips and the
downfall in these stocks. What it felt like was a kind of a reset in a weird way. It's hard to
understand that because when you look at the index and you look at how parabolic we've gone
from even last year, one would think that, oh, it's time for a pause. And then here I am looking at things.
And a lot of people are traders these days.
So there are more day-to-day, week-to-week, and some of them just absolutely got obliterated.
So it tells me something interesting is that we're kind of starting from another floor almost.
I feel like we're ready to make another move up.
I thought the Dow 50,000 was interesting because it's a broad-based move.
That was actually solidified by looking at the micro-cap index.
And that was up 3.5% above any other index last week when you would think that it's a really – yeah, we're talking to Russell.
And I say micro-cap is a really small cap.
So you're starting to realize that this isn't just about the MAG-7.
This isn't just about the trillion-dollar companies.
Now we're starting to have people pour through the fundamentals
and starting to trickle down.
EPS matters, right?
And now I'm looking at a whole new level
that people are finally looking at.
Look at the Canadian-based stocks, right?
I've been looking at Canada.
There's some parabolic moves being made there
in just simple gold mining companies that
no one's ever heard of. And now they're doing some research and like, oh my God, they're actually
getting this stuff out of the ground. And some of them don't even need to do that. They just have
to produce and really show that they have some of this stuff in the ground too, right? So,
and you know, all the different reports, PSA, all those different things that you tend to look for.
So what am I saying all this for is that I'm starting to initiate new positions. I'm looking at Canada a little more.
I'm looking at gold miners that are starting to finally see that $5,000 mark really make a
difference to the bottom line. And I'm going back to profitability and companies in this environment.
I do not want to look at the up 30% or 50 down 60%. I want to
just focus on, are you going to make more money this quarter than last? Why? That's it. That's
all I want to focus on because in these types of times, you'll get shaken out of your position
and then you too will start from scratch. So that's what I'm seeing, guys. And I'm really
focusing my attention on something that I could argue to myself.
Am I going to own this a month later, even if the market takes a big nosedive?
That's kind of where I'm at.
I saw some great opportunities for some trades, but the long term and swing trades right now, I'm still just kind of sitting on my hands.
And there's nothing really wrong with the market, I guess,
in the broad sense of it.
You know, you mentioned the Dow
hitting that 50K record mark.
You know, S&P's right here,
basically at the high.
So is IWM, obviously,
tack a little bit lower than that,
but still right back in the same range,
right, basically back to the same range.
It's been in for three and a half months.
So here we are once again.
But I'm with you on most of that.
Dougie Fresh, any thoughts you want to throw in before we start getting into some of the picks?
Sure.
You guys were talking about IWM and all that.
So, yeah, I mean, they look great.
But at the same time, I still have my red flag up.
I don't know why.
It's just a little bit odd.
The market, it does look really good.
I mean, the SPY today looks amazing.
That thing looks like it wants to continue up. Go flying. The Qs are moving today. IW does look really good. I mean, the SPY today looks amazing. That thing looks like it wants to continue up.
Go flying, the Qs are moving today. IWM looks real good. Crypto is trying to bounce back up.
But at the same time, it's trying to bounce back up. It doesn't really have that look where it's definitely going to bounce back up.
So you could see it kind of retest back or even dip down a little bit.
So I'm playing it day to day for sure even gold
and silver they look really good today but at the same time they're not through the macd yet and
they could bounce back off and come back down and just bounce around for a little bit and when they
bounce down you're seeing like huge swings now you're seeing like ten dollar moves like it's
normal it's pretty wild and that's happening for gold, silver.
Well, silver will bounce back like $4.
But percentage-wise, they're huge percentages.
And so, yeah, I am just playing it day-to-day, seeing what I like.
And I'm the same way.
I haven't bought anything long.
I think there will be a lot of great opportunities right here.
these right here, but I think we could still see a little bit of a dip at some point.
But I think we could still see a little bit of a dip at some point.
You do have CPI on Friday and jobless claims on Thursday. So yeah, there's a lot of things going
on. And of course, our geopolitical risk with Iran, who knows what's going on with that. So
we always have to keep our eyes open for that. And I think the crypto people that were margining
things just got absolutely
destroyed so never do anything on margin if you can't afford to trade it don't trade it because i
think every time it gets wiped out i mean accounts just get blown out of proportion you see like
robin hood and uh coinbase they go way down with it because i think a lot of people's accounts just
get smoked they're obviously on the line for that i I mean, they're the platform, the backers of it.
So, yeah, I think we just saw that happen a lot.
And then it does retest a little bit and reset itself to go back up.
But people just lose their entire accounts.
It's pretty bizarre.
But I guess people just, I mean, people think that it's all or nothing all the time.
You can see how volatile the market is.
So you really got to pay attention to what's going on and really watch what you're doing.
And yeah, don't trade on margin.
If I can beat anything into your head, you just seem like a ton of accounts get completely wiped out this last week.
So that's what I see happening.
A nice call on the Bitcoin right there.
Beautiful job.
So I'll pass it right back to you on that.
Appreciate the kind words once again. I see. I think we lost a laptop, maybe an aerial.
You guys are in. Yeah, there we go. Get you right back up here. All right, Ben, let's let's come
back around. I know we got about 12 minutes here until the interview. So go ahead and any anything
that's on your radar, any updates to other names.
Yeah, I'll cut it real quick.
But, I mean, this has created this reset because it's created so many incredible opportunities.
And I could list probably two dozen tickers that, you know, that look great.
I'm just going to focus in really quickly on three of them.
One of them had nothing really to do with this sell-off.
It was just an earnings play.
It's Burna Technologies.
I think I talked about this, I think, last week.
But BYRN met and exceeded all of my expectations on this earnings report last week.
This thing is still crazy cheap down here.
It was one of my biggest winners of the year.
Because of this pick, a lot of people in the are community were green last week you can see how it did
after that earnings report but at $14 it's still crazy undervalued I mean I
don't have time to go through this earnings report but it I think it
probably blew away everyone's expectations and the shorts need to
start covering well they don't have to you know fundamentally they have to
rethink their thesis right from a perspective, they're not under pressure to cover yet, but eventually it'll
get there because the longs are going to start buying this stock.
So I think it's going to go back to the 50 DMA up there at $17 and probably head into
at least $20 before the next earnings report.
So look out for that BYRN.
And then I'm going to mention two more quickly, just updates on stocks I've talked about.
Kodak, all right?
Kodak was very interesting because during the drawdown, this had crazy relative strengths.
It went nowhere, consolidated sideways during that big market drawdown, and now just exploding
now just exploding up here. So a little bit of a different chart because it's not trying
up here.
So a little bit of a different chart because it's not trying to catch up to where it was.
to catch up to where it was. It's actually kind of breaking out now and getting past
this 7.84 to 7.88 level after that big news came out on January 26th, which seems to have
been ignored. So it looks like the next stop is going to be the 50 DMA at $8. And I really
like having some exposure here. You can see optionality upside if this gets media attention or whatnot.
And at some point, that $100 million Stealth Insider purchase at over $10 is going to make its way into the news cycle.
Form 4 hasn't been filed for that yet, but it will be sometime soon, over the next few months, I guess.
But in any case, Kodak really undervalued play with very exciting transformation going on.
And then the last thing I'll mention is bull.
So bull, back in December, really back after that earnings report here, which was,
earnings report was on November 20th, it looks like.
Yeah, back in November 20th, I was so bullish on this for 2026.
And at the time before before my earnings came out, I was like, this is the year of the bull,
2026. And it didn't work well. It worked out initially. And then you can see it didn't work
out. And this drawdown in crypto and Robinhood has created an amazing opportunity in bull.
I'm back in now. So I had avoided this for a while.
I reduced my position in my long-term account.
I avoided it in the trade account for a while.
I'm back in a trade position.
And I increased my long-term position as well on Webull.
Long story short, the drop in hood was justified in terms of the fear the market had with crypto.
The amount of exposure that Robinhood has to folks who are in crypto is very, very significant.
For Webull, it's not.
But the two were tied together via algos or sentiment or whatnot.
And if there was a blow up, if there was a significant blow up of people who lost their accounts or whatever,
you'll see that in the hood earnings report.
You won't see that in the Webull earnings report just because it's a much smaller percentage of revenue.
And also, I think the Webull customers are generally probably larger accounts,
also more diversified, more into equities, more sophisticated, you know, less likely to get blown out because they're more sophisticated.
So I thought that created an incredible opportunity.
I think Webull's bottomed here last week at 578.
And then we got close to that bottom in our entries last week.
So those are three stocks.
And there's literally dozens of quality names you could talk about that, talk about that opportunities have been created by the three set last week.
But those are the few that I get to you now.
The market just something may have just happened, but let's move on.
Appreciate that rundown there, Ben.
There was just a little sell off across the entire market there. I did not hear any headlines. So if there's anything, I'll keep you guys informed if something comes out. But I checked multiple sources here. I've got nothing really on this little kind of broad market sell-off that's bouncing back. So either way, appreciate that, Ben. Ariel, let's go back over your direction and see if there's any names that you want to either update us on or anything new that you want to mention today as always i always
disclose ahead of time that nothing i say is a recommendation just always give you guys you know
food for thought on some of these companies uh so yeah i mean look you know nothing's really
changed from last week i am you know looking i, looking, I haven't, maybe I'll, I'll guys, I'll mention
you guys next week, some of these gold miners that I'm looking at, you know, haven't decided
yet on what I want to pull the trigger on. And, you know, with respect to Anthropic, what I saw
there is that they're looking to secure 10 gigawatts of power. You know, CEG comes to mind
when I think of something like that. So it's like
the typical stuff, right? Like AES, VST, we're talking Vistra, Energy Energy, and then New York
Stock Exchange, Talent Energy. All of them are in the same world of providing that, you know, an endless power. And I just don't know how this stops, right? I just
don't see how this need for power goes away. And as much as how crazy we are in a historic
revolutionary period, you know, I think it's only going to get crazier. So you almost have to have
that in your portfolio. It's kind of crazy not to, right? So there's some must-haves.
I think the bottom line to me is that silver and gold obviously is here to stay.
Gold showed me quite the resilience.
We're back above five.
So I have to ask myself, what do I want to own in my portfolio at all times?
And I've just identified some of them.
So that's what I'm looking at.
USAR still have nothing changed there for me and the fundamentals. And I just, again, I'm shifting my position where I was
trading a bunch, maybe 50% of these. Now I'm starting to look after this huge drawdown that
we just experienced. I'm looking to go 80% long-term now and 20% trading. I just don't see
a purpose. I mean, there's some of these great
companies out there. I want to own them like a business. I don't really want to care that
they're stocks. I know that sounds foolish because, you know, these things could be pushed down
forever, but I need to feel good at night holding it because what just happened, I didn't like that
at all. I didn't enjoy that whipsaw action. It was too crazy for me, even though we've seen that before.
That's interesting.
There's one follow-up question.
Is there anything that, like, I mean, when you're looking at this, nothing has changed.
We haven't really got a big enough reset to maybe find some interesting stills in the market,
but the bull market's just kind of continuing with some shakiness, maybe. I'm just really kind of perplexed by what the market's doing here.
Yeah, look, here's what I've been spouting this for past year. The debasement in fiat,
okay? It's becoming more evident than ever. When you start looking at the Japanese, you know,
30-year or whatever, you whatever, that's at historic highs,
it's just telling everybody, hey, man, I want to give you incentive to own my currency.
I want to give you incentive, so I'm giving you interest rate to do so, right? I'm giving you a
higher interest. So it's the debasement in the fiat. It's telling me that the money must be put
in somewhere. You cannot keep cash.
You're losing money every day.
You keep cash.
Okay.
So what happens?
What are inflation protected assets?
Equities.
I mean, equities are, especially the companies that could pass down the inflation to the consumer.
So that's why I'm saying to you guys, like, I don't know how this goes away.
I think the market's just, I don't want to sound like a permable. I hate people like that. I feel like each market will
have its bull run, but, but you're starting to see that rotation. It's all being firmed up by
the Dow. Your Russell's now showing you that. So I, I don't know. I just think that you just got to
pick and choose your companies and maybe don't look at everything, just going bear market,
bull market, and maybe
start looking at individual companies that you're comfortable with the thematic play because the
fundamentals are behind you and the tailwind is behind you too. Yeah, I couldn't agree more. I
think people overuse the term, it's a stock picker's market because I think it can always,
in some sense, be a stock picker's market, but I think it's an overused term. because I think it can always in some sense be a stock pickers market, but I think
it's an overused term. But I think that term does apply at least to the last two to three months,
especially. I think it really, really applies here as we've seen, you know, the rising tide
not lifting all boats like we saw earlier last year, you know, from the tariff lows through
probably October. Now you're seeing it's very sector-based and certain names and
valuations and stuff there. So I agree with you. I think that term is overused by many people,
but I think you're absolutely right right now. It is 100%. This would be the definition for me
of a stock picker's market. Laptop, are you back up here on stage? If not, just hit that request. I'll get you back up here to see if not um just hit that request i'll get you back up
here to see if you had any picks real fast to go through uh dougie fresh any uh anything that you're
looking at uh that you want to call out in the meantime yeah sure that uh burner that bet was
talking about that's a beauty right there we were trading that and it does look really good and
bulls at the bottom and kodak has been pretty strong right there and uh ariel was uh just
giving off a couple.
And then let me just give out a couple real quick.
AMC and JetBlue, I talked about them last week.
Both of them ran.
JetBlue, I think you're just not going to want to play with now.
But AMC, you can watch for a little pullbacks on.
And then I talked about Can-An, C-A-N.
And I've been watching that one for the bottom.
They do have earnings coming up on the 10th right there.
So I think it's this week.
And yeah, it's got to be tomorrow.
So yeah, they have earnings.
That one's looking pretty good going in the earnings.
We'll see how their earnings are, but that looks good.
And Datavolt had run up pretty good Friday, pulled back a little bit.
And that one's setting up and that's DVLT.
Can-An is C-A-N and then Datavolt is DVLT. CanAn is C-A-N. And then Datavolt is DVLT.
And with Bitcoin looking a little better, you guys can look at Bitfarms, B-I-T-F.
And that one's getting set up right there.
So just a quick couple that you guys can look at.
And there you go.
So you can give it the laptop travel before our interview.
Can I just ask you real fast?
Sure.
Bitcoin, what's your read on the Bitcoin chart here?
Is it kind of in the middle of nowhere or it looks like it's kind of consolidating maybe to push another leg up here and back to something?
Well, I kind of think it's trying to curl up here, but I still don't think that it's ready to run completely.
I think it could level down a little bit and and pull back a little
it's right in that like uh transition period right now where it's trying to make a base right around
here at that 70 000 but it definitely could fall back down it doesn't look that strong as it's
crawling yet but it's still in the process so i have to kind of watch it the next day it's been
moving kind of slow too to be honest
with you and i think that's a lot of the money getting rotated out of it before going into the
precious metals such as silver and gold and things like that maybe more money's going to start going
into it now that we just saw that huge dip and maybe that'll speed it up a little bit but it
has been running a little slower than it usually does. And I'm not convinced 100% that it's ready to go up completely yet.
It will get set up and run, but it could dip down so you could have a better opportunity.
Yeah, appreciate that, Dougie.
That's kind of where I'm at.
I just wanted to hear your kind of perspective there, reading the charts,
all the different years of experience that you've got.
Always love getting more perspective there.
Laptop, any quick pick you want to throw in and i know dave's joining us here for the interview yeah i be really respectful of the time here a couple things real quick uh hood
uh hood has like five billion in crypto they have like three billion in bitcoin and two billion in
ethereum so that's why you see they're very susceptible to crypto prices i just want to get that out there for everybody so they're not just a brokerage um they're also
an investor in crypto so highly leveraged uh so i in the comments section i put in my pick
just to be respectful of the time but uh pavmed uh i really like this company they've restructured
their debt um they have cash in their hands now. It looks a lot better.
A lot of things are happening for this company.
And the price targets are just amazing.
So I would definitely take a look at it.
Isn't this the one where the subsidiary is lucky that had the news the other week when I was away?
I think it was.
Yeah, Lucid.
Lucid Diagnostics.
Right, right, right.
That was weird how TavMed went up on that news,
but Lucid didn't.
Yeah.
So anyway, right now it's about $10.82 or something,
and it's been on a decline,
but it's made a big turn here when it restructured its
debt. Analysts have wild targets, $60, $280, $510. Anyway, I put a little thing, a blurb with a
chart in the comments, so folks, check that out, and I do want to respect the time so we can go
on with our interview. Thank you so much. Beautiful. Thanks, Laptop Lab.
We got you in there to share that thought.
I know that Dave is joining us up here.
So Ben, Rhett, if you guys want to kick off, introduce our guest for the day, and I'll jump in as well, and then we'll get started.
Great to have Dave joining us.
Awesome.
Sounds good.
Yeah, I just want to mention that we have the CEO of Neuro One Medical Technologies, Dave Rosa.
If you just want to unmute yourself, just check your audio really quick so he can hear you and we'll just get started.
All right. Can you guys hear me all right?
Yep, we can hear you loud and clear. How's it going, Dave?
You want to introduce yourself and a little bit about the company?
Sure. So as you said, my name is Dave Rosa.
Sure. So as you said, my name is Dave Rosa.
I've been the CEO of Neuro One Medical Technologies Corporation since the inception of the company.
We're a company that develops and commercializes what we refer to as thin film electrode technologies. and really the exciting thing about these devices are you can place them less invasively than
traditional devices in a variety of areas of the body and what makes them special also is that they
can perform both diagnostic and therapeutic functions. So for example in the brain they can
kind of find the problem area in the brain for epilepsy patients.
And then when connected to another device, they can also treat that area to try to eliminate patient seizures.
And we're pretty well diversified.
that's used for really brain-related disorders, pain disorders,
as well as delivering different drugs and gene therapies.
Awesome. Sounds good.
And then a couple other questions just getting started.
I know you have upcoming Is Your Earnings.
Can you just tell us when that's going to be occurring? What date?
Yeah, so that's February 17th, and I believe it's at 830 a.m. Eastern. That's typically when we have them.
Awesome. Sounds good. And then getting more in depth on, I know last time we spoke with your FDA, you wanted to go a little more in depth on that with your FDA clearance and all of that stuff that you guys have going on? Yeah. So we,
we recently got clearance for a system. It's called the 1RF trigeminal nerve ablation system.
And it's a technology that was designed to treat what's called trigeminal neuralgia, which is, it sounds like a fancy word, but there's a nerve in the side of your face that's near your jaw.
And it's the trigeminal nerve.
And people, there are people that have severe pain when speaking, chewing, really doing anything.
And in the literature, it's commonly referred to as the suicide condition because it's got a suicide rate of 25%, which is incredibly high.
is incredibly high. So what our device does is it goes in and it's placed just one time as opposed to
other traditional technology which requires multiple incisions and what it does is it
allows the doctor to figure out where on that nerve the pain is triggering and then allows the doctor to burn that nerve to eliminate
the pain. So we'll be giving an update on our limited launch next week. So hopefully you all
listen in and hear the exciting news on that. And we do have other technologies that are at various stages of development.
Like we have some pain devices for lower back pain, but they have not yet been submitted to FDA. And then the drug delivery technology, we're actually able to sell this for animal studies.
And if any companies are able to get their protocols for their gene therapies
or cell-based therapies approved, if they include our technology, our device could also
be used for those applications.
Great. Thank you, Dave. This has been taken over for Rhett here for the moment.
If anyone has any questions, by the way, on the panel or feel free to jump in.
There's a lot to cover here in terms of the product and catalyst coming up.
And thank you for letting us know about that catalyst coming up.
That's exciting. We always love catalysts at story trading.
But I want to dive a little bit into financials. You know, and I think I may have mentioned this to you the first time we spoke, but, you know, when it comes to micro cap companies,
the elephant in the room that everyone always worries about is, is there going to be some toxic
financing, you know, around the corner that is really unfavorable for shareholders.
That's always the worry.
You know, there's so many great small companies out there with great products and a great future.
But unfortunately, you know, financing that in public markets is terrible for the most part.
So I'd like to hear a little bit about your cash position, your runway cap structure,
so you get a better sense of what your capital needs might be between now and profitability.
Yeah, excellent question, and you're right. I mean, this seems to also come up quite frequently
with small and micro cap companies. I think all of us kind of face the same scrutiny
and concerns.
I think the good news for Neuro One is,
number one, the company has no debt.
Number two, the company has very low warrants
that are outstanding.
There's roughly two plus million warrants that remain. We actually just
retired about four million of those last month. And I believe the average exercise price for the
remaining two million warrants is $1.34, which would be out of the money currently. And in terms of runway, we've said publicly that we're very confident that we're financed through at least fiscal year 2026 and potentially beyond.
So when you look at our operating plan, it doesn't factor in any upside.
operating plan, it doesn't factor in any upside. It's based on really minimum requirements,
minimum purchase requirements by our distribution partner, Zimmer Biomet. So any additional
licensing, any additional revenues from this trigeminal nerve ablation system or any potential licensing fees that we would obtain through any
other partnerships for a number of the other programs we have, none of that's been factored
into the plan. What's only been factored into the plan is Zimmer Biomet purchasing the minimums
Zimmer Biomet purchasing the minimums that are required in the contract. So to answer your
question more directly, there's a very low likelihood of any financing that the company
would do. The investors that we have in the company, unlike many small and micro cap companies, we actually have some pretty prominent institutional
investors that have invested in the company over the last four or five years. So, you know,
our cap structure is actually in excellent shape. We don't have any toxic deals hanging out there with what we've done in the past.
And really, today is no need for us to do any additional financings.
And we're so close to cash flow break even with just the base model that our intent would not be to do any additional large financings.
That is excellent and definitely unique.
Hard to find in this market, especially for, let's see, a $39 million market cap.
I mean, that's really good news and warrants watching your company closely, especially with this launch.
So let's dig into this a little bit further.
It looks like your revenue, are you doing about $2 million run rate a quarter?
Does that sound about right?
Well, last year, a little bit higher than that.
Last year, we did over $9 million.
And I'm talking fiscal year, not calendar year.
So, you know, I would say, you know,
it's a little over 2 million a quarter, you know,
if you had to average it.
Okay, great.
It's a little over 2 million a quarter,
but you have this new product.
Has that, I mean, is there any revenue from that yet?
Or that's when is that hasn't launched or it's launching soon?
So we announced that we're doing what's called a limited market release.
So whenever we launch any new products, we never make them available throughout the entire market.
What we like to do is pick a handful of centers, three, four centers, bring the product in, have them perform some cases.
bring the product in, have them perform some cases.
And it's really done to ensure that there aren't any issues that we didn't anticipate that come up.
Because the last thing you'd want to do is either have to recall the product or pull it back and redesign it because of unforeseen issues.
So we're going to be giving an update on where we are with this
limited market release, but we have done additional cases beyond the two that we reported last
quarter. So, you know, actually very exciting technology, and I think you'll be excited to
hear how things are going. So that, just to be clear, like the revenue today, that $1.7 million, I guess, that was in Q3, that doesn't include any revenue from this.
And Q4, I guess, would not either. Is that right?
Yeah, there's no revenue.
We didn't start performing any of these studies until the fourth calendar quarter. So last December,
we actually performed the first two cases. And no, there was there was no revenue associated
with any of the reporting previous reporting quarters for the device.
Okay, so then, and when do we expect revenue to ramp, and can you give us
any idea of what the potential is, I don't know, let's say by the end of the year, is it like a
target you're looking for, or give us an idea of the TAM, or what penetration of the TAM you're
looking at, let's give us some guidance on what the potential is on this for us? Yeah, we haven't gone into details in terms of revenue.
And there's a couple of reasons.
One is we're in discussions with a strategic right now.
And if we are able to come to terms with them,
then we would expect to see a different type of ramp.
And if we were to commercialize this directly ourselves.
So hopefully we'll be able to complete these discussions in the near future.
But it would obviously be a slower ramp if we do this directly because this strategic,
potential strategic partner has quite a large sales force that would be able to more broadly commercialize
it than we would be capable of doing it ourselves. You know, I can't tell you until we're done with
the evaluation when we will launch this broadly into the market, but our goal has been able,
broadly into the market, but our goal has been able, has been to be able to finish this
by the end of March this year. So hopefully if things continue as they are, you know,
we'll be able to complete this limited market evaluation of the technology. So I wouldn't expect to really see revenues until likely Q3, calendar Q3 of this year, because obviously we're going to have to go into centers, present the technology, get cases done.
And that does take time, especially if these centers have to get approval, internal approval from their IRB to start to use the
device on patients. Got it. And this timeline you're talking about, is that if you do it on
your own, does that timeline change at all if you get a strategic? It just happens much faster,
the penetration. When you're talking about the company doing it themselves,
you're talking about distributors that we would bring on
to go out there and present the product to sites
versus going to a large strategic
who has an excess of a hundred people
already in the sales force selling to these customers,
you can imagine how much quicker it would be.
So it's just the speed of penetration.
I got that. I'm just trying to understand because you mentioned this testing that's going on now.
Is that like a rate limiting step?
Let's say you have that strategic?
Is your launch rate still going to end up being Q3 because you have to get some data and validate stuff?
Or will that setup time also be accelerated if you get the strategic?
No, I mean, we will never launch the product fully until this evaluation period is over.
And I'm estimating that it's gonna be over
by the end of the first quarter of this year.
And again, that's calendar quarter.
And that would mean that in the second quarter,
we would be in a position to start expanding
into additional centers.
So if we had an agreement in place,
say the following quarter,
you should expect to see revenues start to generate in Q3.
It has nothing to do with whether we're doing this
or they're doing it.
Whoever brings the technology into a hospital,
if it's a new technology,
they have to get approval internally before the doctors
can start using it. So I'm not saying we would launch it in Q3. What I'm saying is if we
launch it in Q2 more broadly, you should expect to see revenues start to accumulate in the
third calendar quarter of this year. Okay. Got it. Sorry I'm hogging all the time.
I'm almost done with my questions, and then I'll give it over to Emper.
Anyone else that has maybe more product-related questions.
So this is very interesting to me with the strategic and how this could work.
I don't want you to tell us anything you're not supposed to in terms of your current discussions.
Maybe talk in more general if you'd like. But in terms of getting a strategic partner,
would they have to kind of wait till you do this evaluation? Or I guess what's the trigger for
that? Is it just kind of negotiating terms? Or do they also kind of want to see you have a little
more progress before you are able to steal a deal with someone? Well, it's a combination of both of those factors
that you mentioned. But we are in diligence, so they have witnessed some of the cases.
They know where we stand in terms of when we would be expecting to release this more broadly.
And yes, it's always about agreeing to terms as well.
So all those things are currently in process.
But I do not believe that the clinical part of this will hold anything up because we're pretty far along in the process.
All right. All right. Got it. And then I'm just curious how you or the company weighs when you
do these strategic deals. This is a great conversation. I'm so glad that you're
willing to talk about this to us because I always see this from an outsider perspective,
these biotechs getting these big deals with strategic larger pharma. And I always wonder,
you know, there's two components usually an upfront payment and then like, I guess,
the revenue share, right? And how do you weigh that in terms of, you know, being more front
loaded or back loaded? And what's the give and take there between kind of your desires and your interests versus
a strategic's interest?
Like, where do you want to be?
You want more cash up front?
You want more cash later?
And kind of where do the strategics want to be?
And I wonder, is that like the main negotiating point?
So I'd love some insights into this whole process if you're able to.
Yeah, this is a longer conversation than we have time for, but I'll give you the Cliff Notes version.
I would say earlier on when the company was not yet generating revenue, when we were still hoping to be able to commercialize our first technology, then, you know, I was very interested in more cash up front
in terms of licensing fees because it minimized the amount of capital that I had to go out and
raise. But as we started generating revenue and getting FDA clearances, then it became more of the profitability piece.
So, and I'm just talking from personal experience here. I prefer to have, let's just say, better margins on my product once I get to a point where I'm starting to generate revenue.
generate revenue. But early on, you really need that capital up front to be able to develop these
technologies, get them through the FDA, get them cleared and get them ready for commercialization.
So, and then you also have to look at the market, right? Is the market, you know, a hundred billion
dollars or is it a hundred million dollars? It may not make sense if you
have to hire a couple hundred sales people to cover the space to go direct. So when you look
at the company broadly, I mentioned we have brain pain and drug delivery technologies.
I can tell you the plan, at least from my perspective, is not that we would do this for every technology that we have, but we would do it in areas where it might require a tremendous amount of capital to go direct versus, boy, if there's already someone in place and the economics work out,
then why not? Awesome. Thank you for that. Go ahead. Appreciate that. Sorry, Rhett. I'm kind
of done with most of my questions. So go ahead, Rhett. I just wanted to mention this is a sponsored
segment of the X spaces and the ticker symbol is NMTC. and i see laptop travel has his hand up so go ahead laptop
hi dave yes i just had a a question that i'm sure is on maybe many investors minds is the
notice of nasdaq nasdaq non-compliance because of the share price. I think that expires in early May,
which that is an expiry of your extension expires. What plans do you have in store
to meet compliance by that date? I mean, look, obviously, you know, our plan is to remain on NASDAQ, and you're right regarding the dates.
And maybe this is a segue into the next question.
But we think that we have a number of potential catalysts that could really impact where our share price is today.
where our share price is today.
I'm not a big fan of doing reverse stock splits
to become compliant.
So we've looked at what we expect
in terms of these catalysts
that could happen in the near future.
And we think there's a good opportunity
that that will drive an additional level of excitement
into the company based on what some of that news
could wind up being.
Okay, thanks so much.
And by the way, for full disclosure,
I am a shareholder of Neural One.
Well, thank you.
I have a quick question, Dave. I know the company has a couple different devices that actually implant into patients.
Are all the devices only a one-time surgery and then you actually can tweak everything with software
or do they have to actually go back in and do another surgery or how does that work?
Yeah, so the short answer is all the technologies are designed with the intention of not having
to perform any additional surgeries.
any additional surgeries. So, you know, what we're trying to do is, you know, differentiate
ourselves from other technologies that are being used in the market. And, you know, if you think
about it, you know, do patients want to go in? Let's take brain surgery. Do they want to go in
for multiple procedures where doctors are drilling holes, you know, into the skull and these devices are being implanted?
The answer is pretty obviously no.
So what we're trying to do are offer devices
that reduce the number of procedures that have to be done,
the number of hospitalizations.
And if you're successful in doing that,
the number of complications should also be less
because you're just performing less surgeries
on these patients. So, you know, you're right. The intention is not to have to perform additional
surgeries. Awesome. Thank you very much, Dave. I'll sneak in here for a second. Yeah. Dave,
just for maybe the people that maybe joined a little bit late, maybe they caught the middle of the conversation here. Just a bigger, maybe zoomed out view a little bit. Neuro One, what are you guys working on? I guess just maybe a synopsis summary of kind of the different sectors, technologies that you're working on. Just maybe the 10,000 foot view? Sure. We've got brain devices, primarily that these devices go into
the brain for patients that are having seizures. It'll identify the area or the brain tissue that's
triggering the seizure. And then with that device in place, when it's connected to another piece of
equipment, it can actually destroy that
problematic brain tissue and the goal there is to you know eliminate the seizures we have pain
devices I mentioned one that's used for a condition called trigeminal neuralgia it's a
painful condition that affects really any movements in the face. And we have a device that'll go in and burn that nerve
that's causing that pain to eliminate the pain.
We also have two devices that treat lower back pain,
one that treats it by stimulating the spinal cord,
the other for a different type of lower back pain
actually is intended to burn the nerve that's causing that.
And then the third big category is drug delivery. And really what we're hoping to do
is market the same platform to be able to go in and monitor basically what's happening,
whether it's in the brain or anywhere else in the body,
yet using the same device, deliver a gene therapy, a cell therapy, possibly a cancer therapy,
say, for example, for brain tumors like glioblastomas, all using the same device.
So those are the areas that we're really focused on.
Beautiful.
So it sounds like just as far as like the condition,
I mean, your epilepsy, chronic pains,
maybe some movement disorders,
those kind of the things that you guys are attacking,
looking for solutions.
Yes, that would be accurate.
Perfect.
I always love getting that kind of summary of the top,
and then people much smarter than me
dive into the actual technical stuff of it.
So I appreciate you, Dave.
Great to have you on here.
Rhett, Ben, either one of you,
have any further questions as we get to the top of the hour?
No, I think I'm i'm good we
learned a lot of good things here um and especially like everything you said about
the capital structure and your view on that so very happy to hear that and that the laptop travel
i didn't know you have a position so that's something worth thinking about for our community
uh he is one of the best out there.
So we have a lot to chew on.
We're going to be putting this at the top of our watches
and looking for news over here in the next coming quarter.
It looks like a lot of exciting things could happen for you.
So, Rhett, did you have any final questions for Dave?
Yeah, just one last one.
I mean, he already answered in the very beginning.
Just for members that are just now joining on the late end, like Wolf was saying, again, can you just mention when your next earnings call is going to be?
Yes.
So people that want to pay attention are awesome. Thank you.
It is February 17th at 8.30 a.m. Eastern.
Awesome. Thank you, Dave, for that. Wolf, Ben, back to you.
Awesome. Thank you, Dave, for that. Wolf, Ben, back to you.
Awesome, Dave. I'll ask one last question, just timeline-wise. Anything that the audience and
ourselves should be looking out for? Obviously, I heard about the earnings report coming up
here shortly as well, but just anything on the radar, any significant dates that we should have
marked down to pay attention to? Not dates, but, you know, I would pay close attention for any news, you know, regarding our drug delivery system, OUS registration.
You know, all the revenue that we've generated is all domestic.
is all domestic.
And we've been working on getting what's called ISO 13485
licensing, which would allow us to ship product outside the US.
And then, you know, I already mentioned,
we're having a number of discussions with various strategic partners
regarding a number of our technology.
So, you know, definitely keep an eye out for updates on that
because we've got a lot of exciting things
that are going on right now.
Awesome, best place for us to stay up to date
with all the news, website, maybe an X account or something.
What's the best place?
Definitely the news will be captured on our website.
So I would say, you know, there.
We usually also do post to the company's X account, as well as the company also has a Facebook account.
So, but the website is probably the best area.
And I just want to verify that's nmtc1.com. Correct.
Okay, perfect.
All right, Dave, I really appreciate you joining us today on the Small Cap Show.
Great to hear from you.
Definitely, everyone, do your due diligence.
Not a recommendation to buy anything or sell anything, of course.
This is just a launch point, and we love giving deep dives into here.
Ben, any final comments
for today's show before i wrap us up for the show i mean honestly it's all going on for a long time
there's a lot going on all the time but uh no i i think we're good you're laughing at that but no
it's true it's true and you know there's constantly new information coming in and they're constantly
adjusting based on new info i mean it, it's an exciting, exciting industry we're in.
Yeah, absolutely.
And just think back, you know, end of December, beginning of January, we were complaining that we needed more catalysts.
And now it's almost too many to keep up with.
So good problem to have, though, for sure.
Of course, you probably hear Ben later on the Stock Picks for the Week show, 5 p.m. Eastern, right here on Wolf Financial.
Maybe you get a few more thoughts out of him and the rest of the crew that joins that show.
In the meantime, make sure you follow all these great speakers that came up here and joined us.
As always, we appreciate them.
We appreciate all of you in the audience tuning in to this show each and every Monday.
Small cap show right here, 1 p.m. Eastern, every Monday on Wolf Financial.
And the entire thing was recorded, as always.
All of our spaces are recorded.
So great first half hour there of some market thoughts, some individual names mentioned there,
and then a wonderful interview here with Dave from Neuro One.
So we appreciate Dave once again.
And with that, I'm going to close this down.
I will be back on stream personally for the next little bit.
Stocks on Spaces is coming up.
And then, as I mentioned previously, 5 p.m. Eastern Stock Picks for the week.
And on the back of that, we're going to have a gold discussion again,
a little updated gold discussion there.
So if you're interested in what's going on with gold, silver, miners, precious metals, all of that,
make sure you tune into the Stock Picks show and then hang around a little bit after that.
Tons of stuff coming at you.
Our pinned tweet, of course,
is the full schedule of pretty much everything we have.
We have even more that we can't fit on that schedule,
but you can get a good idea of everything
that we've got going on at Wolf Financial
right there in our pinned post.
And with that, big shout out to the Small Cap crew.
Make sure you follow all of them, like I said.
And also that Story Trading,
you see the Story Trading Spotlight account
that does a lot of these great CEO interviews.
We appreciate Rhett pulling the strings back in the background,
making a lot of this happen for you guys.
So shout out to that.
Shout out to Rhett and everyone else up here.
We'll see you guys in the next show.
Take care, everyone. Thank you.
