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    Mitchell Sacks

    Research Analyst at Grand Slam

    Mitchell Sacks is the Founder, Principal, and Chief Investment Officer at Grand Slam Asset Management, specializing in small and micro-cap value investing with a tactical approach to portfolio management. He has covered companies such as TransAct Technologies and has led Grand Slam's performance by integrating operational expertise with traditional investment analysis. Sacks began his career in financial markets as an Account Executive at Merrill Lynch, then held investment banking and portfolio management roles at Bankers Trust, Segal and Company, and Banque Francaise du Commerce Exterieur, before serving as CFO and CEO at TSR Wireless for nine years prior to founding Grand Slam. He holds a BA in Economics from Cornell University, an MBA in Finance from NYU, and is known for executing M&A, private equity, and debt financing transactions, though specific securities licenses or FINRA registrations are not publicly listed.

    Mitchell Sacks's questions to BIOSTEM TECHNOLOGIES (BSEM) leadership

    Mitchell Sacks's questions to BIOSTEM TECHNOLOGIES (BSEM) leadership • Q4 2024

    Question

    Mitchell Sacks of Grand Slam asked about the potential impact on gross margin percentage under a worst-case SEC accounting scenario and questioned if Q4 revenue was influenced by seasonality or one-time stocking that would affect the 2025 run-rate.

    Answer

    CFO Michael Fortunato and CEO Jason Matuszewski explained that in the worst-case scenario, bona fide service fees would be netted against revenue, which would lower the gross margin percentage, but did not provide a specific pro-forma figure. Jason Matuszewski stated that while chronic wounds are not seasonal, some Q4 adoption may have been accelerated by the since-delayed LCD implementation date. He also confirmed that inventory with their partner Venture Medical has a rapid sell-through, minimizing one-time stocking effects, and that the company's goal is to build on Q4's performance.

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