Brian Marckx, CFA
Long/short equity

LED Medical: Tepid Results But Substantive Progress Being Made With Turnaround Strategy

(Editor's Note: Investors should be mindful of the risks of transacting in illiquid securities such as LEDIF. LEF Medical Diagnostics' Canadian listing LMD.V offers better liquidity.)

LED Medical Diagnostics (LMD.V / OTCQX:LEDIF) filed their financials for the full-year and Q4 ending December 31, 2013. We had expected relatively weak numbers so the tepid results were not a surprise - although they were even less exciting than we had anticipated. To be clear, we had not expected any obvious contribution during 2013 resulting from the company's recent shift in strategy - the details of which we first outlined in our January initiation report. The current numbers are representative of the continued weakness as a result of the loss of Henry

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