200,000 buyer hits the board!, page-21

pbi report
stil, not a bad set of highlights .... cash flow will be the key ..... if they can get some sales of epidural unit on the board then cash will start flowing in and give a better idea of the big margins on these products ... agree they will need cash again at some stage, but all looks good with some big announcements expect soon.


highlights ...
Review of Operations
sales contracts for a variety of simulation products were received from several leading hospitals
and training centres, including Kiang Wu Hospital in Macau, Prince of Wales Hospital in Hong
Kong and South West Hospital in Chongqing, China. The company has recently completed a
series of operating theatre integration installations at Adelaide womens and childrens hospital
and a private hospital in Hervey Bay. Medic Vision was also principal consultant and project
manager in the design and development of the recently opened surgical skills centre at the Prince
of Wales hospital in Hong Kong and is currently involved with the design of a new skills training
centre at the Alfred hospital in Melbourne;
Medic Vision is in negotiations with a number of parties for similar installations and has continued
to develop a very strong pipeline of sales prospects in Asia, UK and China. (Medic Vision’s
history of converting sales prospects into actual sales has been very high with the most difficult
issue being the precise timing for any particular sale);
developed, finalised and released the first Medic Vision 100% owned product – its Epidural
Simulator and recorded its first order pre-Xmas 2005. Feedback on this product has been highly
positive and a major launch is scheduled for later this month;
entered into a distribution agreement to sell the ophthalmosurgical (‘Eyesi’) simulator, developed
by German company, VR Magic into the Asia Pacific region. This is a new product targeting the
ophthalmology market where VR training tools up to this time have not existed;
establishment of a dedicated MedicVision UK office and appointment of a senior sales and
marketing manager for this office. This person is dedicated to servicing the growing UK and Irish
markets where use of medical simulation is still in its early stages of adoption;
successful completion of the initial trials for the Pulmosonix Pty Ltd ("Pulomsonix") developed,
“Pulmoscreen” product currently being developed by Pulmosonix with Stage 2 (commercial
prototype work) having now commenced;
listing of the Company on the UK AIM and re-structuring of the PBI Board, including appointment
of a UK based non-executive director. The listing was seen as a precursor to a broader
marketing programme for the Company and to assist the raising of Medic Vision’s profile,
particularly in the UK market, which is expected to occur more rapidly on the back of UK-based
sales getting under way. There were certain AIM listing, advisory and professional one-off costs
incurred in this quarter associated with this listing program.