re: mitis royal commission well ive spoken to ross and peter, and i suspect others have recently too, because these guys are indicating commencement of news between now and options expiry is imminent, just like many recent posters on HC have alluded too in last few weeks. I told them both the SP activity last 12 months was disgraceful from a shareholder wealth growth perspective, and that at a time when the SP is half that when the company essentally only had the Pulmo product 12 months ago, that the current $16M market cap was pathetic and not the best way to reward loyal share and option holders..... Peter was defensive about this - Ross more agreeing....
Anyway, I think Peter is very conservatve, with Ross more free fllowing, but ofcourse neither could/would give any specifics regarding the upcoming announcements, but both spoke generally and disclosed nothing more than at say a broker roadshow. However some interesting aspects of discussions include;
* ENT prototype closer than some think...PROBABLY released before options expiry. Ross and Peter are acutely aware how beneficial to SP that would be and is hopeful of release in next 2-3 months. The prototype would be something like 90% of final product, to give doctors a good look and feel during trials....
* Something impressive regarding the Pulmosonix product is due for release well before options expiry - probably Sept - Oct. Peter indicated it was something to "look out for".
* Apparently, another broker report other than Hogans from last yr has been released in UK recently?... i querried that and Ross will see if local Aussie website has been updated - i cant see it, can you guys.....apparently a good report ?
* Ross was culprit for offering shares to UK investors so cheaply last issue, but a one off he says "we had to have" to get the right crowd into pbi.
* as some have speculated recently, next time we see a revenue report, unreported medivision product sales will be captured and corresponding revenues... I think from tone it will be good team but we will have to wait and see. I told him p*ssy values like the $800,000 number released some months ago along with a China deal was it (?) wouldnt do it for the sp - had to be substantially bettter or atleast number of $800,000 deals....
* Ross happy with the PR firm he has working in the UK - i think he called them REED or something similar. forget the last crowd - much better this time.
* expect some kind of announcemnt THIS WEEK....obviously didnt say what about.
* neither gent seems to think the options will struggle to look attracive enough come Dec 2006 to the market, for them not to be all converted....the upcoming announcmements they say will be the key. They appear focused on getting them well into the money and didnt appear half hearted or nochalant about this....phew
* there is a strategy to the frequency of announcement release between now and Dec...."have to keep the gunpowder dry" and issue "not too many to early, or too late"......should start this week.
Didnt ask too many specific questions (appart from ENT simulator) because I knew they coudnt disclose to little old me (insider), but i would recommend others who may have concerns about pbi sp to contact these guys who appear happy to call you back and address questions. Lets keep the pressure on for some long overdue management and SP performance...
see ya.....
PBI
premier bionics limited
