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FZMD Fuse Medical

Fuse Medical, Inc. is a distributor of medical devices. It provides a broad portfolio of orthopedic implants, including internal and external fixation products; upper and lower extremity plating; total joint reconstruction; soft tissue fixation and augmentation for sports medicine procedures; full spinal implants for trauma, degenerative disc disease, and deformity indications; human allografts, substitute bone materials, and tendons; and regenerative tissues and fluids to augment orthopedic surgeries and wound care. The company was founded in 1968 and is headquartered in Richardson, TX.

Company profile

Ticker
FZMD
Exchange
CEO
Christopher C. Reeg
Employees
Incorporated
Location
Fiscal year end
Former names
AMERICAN METALS SERVICE INC, GOLF ROUNDS COM INC
SEC CIK
IRS number
591224913

FZMD stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

30 Mar 21
22 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
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Cash on hand
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Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
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Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.19M 1.19M 1.19M 1.19M 1.19M
Cash burn (monthly) 28.84K (positive/no burn) 85.66K 75.48K (positive/no burn)
Cash used (since last report) 107.92K n/a 320.56K 282.46K n/a
Cash remaining 1.08M n/a 866.89K 905K n/a
Runway (months of cash) 37.4 n/a 10.1 12.0 n/a

Beta Read what these cash burn values mean

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
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Financial report summary

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Competition
StrykerOrthofix Medical
Risks
  • We may not be able to refinance, extend or repay our indebtedness owed to our secured lender, which would have a material adverse effect on our business, future operating results, and financial condition.
  • We may not be able to obtain waivers of potential defaults in the future from our lender and our borrowing capacity may be further reduced or restricted if we do not meet the covenants associated with our line of credit.
  • The COVID-19 outbreak may decrease demand for our products and disrupt our supply chain, and any decrease in demand or supply chain disruption resulting from COVID-19 would adversely affect our revenues and results of operations.
  • We have significant concentration in and dependence on a small number of customers.
  • We are exposed to risks of obsolete and slow-moving inventory which may adversely impact our cash flow and liquidity.
  • To grow revenues and profitability from certain products, we must expand our relationships with hospital systems, third-party distributors and independent sales representatives, whom we do not control.
  • Our revenue growth and profitability will depend in large part upon the effectiveness of our marketing strategies and investments.
  • Our revenues will depend on our customers’ continued receipt of adequate reimbursement from private insurers and government sponsored healthcare programs.
  • Consolidation in the healthcare industry could lead to demands for price concessions or to the exclusion of some suppliers from certain of our markets, which could have an adverse effect on our business, financial condition or results of operations.
  • Our operating earnings are dependent on certain significant suppliers.
  • Interruption of manufacturing operations could adversely affect our business.
  • Future business combinations or acquisitions may be difficult to integrate, which could cause us to shift our attention away from our primary business and its operations.
  • If the statutes and regulations in our industry change, our business could be adversely affected.
  • U.S. federal and state governmental regulation could restrict our ability to sell the products.
  • Future regulatory action remains uncertain.
  • If we fail to obtain, or experience significant delays in obtaining, FDA clearances or approvals for our future products or modifications to our products, our ability to commercially distribute and market our products could suffer.
  • Intellectual property litigation and infringement claims could cause us to incur significant expenses or prevent us from selling certain of our products.
  • We operate our business in regions subject to natural disasters and other catastrophic events, and any disruption to our business resulting from natural disasters would adversely affect our revenue and results of operations.
  • We cannot be certain that our internal controls over financial reporting and procedures will be sufficient in the future. This uncertainty could have a material adverse effect on our investors’ confidence in our reported financial information. There is no guarantee that our internal controls over financial reporting and procedures will not fail in the future.
  • We depend on the knowledge and skills of our executives and other key employees, and if we are unable to retain and motivate them or recruit additional qualified personnel, our business may suffer.
  • We may be adversely affected by product liability claims, unfavorable court decisions or legal settlements.
  • Uncertainty in future changes to tax legislation, regulatory reform, or policies could have a material adverse effect on our business.
  • We do business with companies that are owned or controlled by our Chief Executive Officer and Chairman of the Board and President, which could create actual or potential conflicts of interest.
  • Some members of our executive team may dedicate inadequate time and attention to our Company.
  • General economic conditions may adversely affect demand for our products and services.
  • Because the market for our Common Stock is limited, persons who purchase our Common Stock may not be able to resell their shares at or above the purchase price they paid.
  • Our current executive team can exert significant influence over our Company and make decisions that are not in the best interests of all stockholders.
  • Under our charter documents and Delaware law, we could issue “blank check” preferred stock without stockholder approval, which would dilute our then current stockholders’ interests and impair such stockholders’ voting rights, discouraging a takeover that our stockholders may consider favorable.
  • If our Common Stock becomes subject to a “chill” or a “freeze” imposed by the Depository Trust Company (“DTC”) our stockholders’ ability to sell shares may be limited.
Management Discussion
  • For the year ended December 31, 2020, our net revenues were $21,398,936 compared to $22,900,277 for the year ended December 31, 2019, a decrease of $1,501,341, or approximately 6.6%.
  • For the year ended December 31, 2020, Retail Case volume decreased approximately 14% compared to the year ended December 31, 2019, and revenues from Retail Cases decreased by approximately 0.01% compared to revenues from Retail Cases for the year ended December 31, 2019. Revenues from Retail Cases as a percentage of total revenues increased to 89% of revenues for the year ended December 31, 2020, from 83% of revenues for the year ended December 31, 2019. We believe the increase in revenue from Retail Cases as a percent of total revenues reflects the execution of our strategies to shift more of our business to higher margin Retail Cases through improvement of our supply chain management.  Therefore, wholesale revenue as a percent of total revenue has decreased.
  • As discussed above in “Current Trends and Outlook”, we believe that as our industry faces increased pricing pressures, we will need to focus on increased volume of Retail Cases to maintain gross profit levels. We intend to increase our Retail Case volume by increasing sales volumes with our existing retail customer base as well as on-boarding new medical facilities, surgeons, and distributors.
Content analysis
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