re: + vcr and medicare + stolwyk Seaking,
I said: "Thoratek can barely exist now".
And you said "that it was incorrect".
Amongst investors who don't get dazzled by some large numbers and who make profits, my comment would be fair IMHO. Another investor would understand the gist of it:
Cap. 56.2 mill shares on 31 Dec 2002.
E/S: 2002 (1 cent), 2001 (1.68 cents loss), 2000 (23 cents) and 1999 (30 cents).
Clearly Thoretec (THOR) has gone backward in a big way!
Now for the last quarter they earned 2 cents or say 8 cents projected in the year till Dec 31, 2003.
Current share price $US 14.22 or the projected P/E is an astronomical 178. Nothing to skite about, I would say. I wouldn't pay that.
Looking at the net assets of $374.34 mill. that would be $6.67 per share.
I did point out problems with the US accounting system a few years ago. I am not sure it there are any left. Net assets doesn't mean that much anyway as we are dealing with a going concern.
So, in investment language, I belief that my statement is a fair one.
Now THOR has asked the US Medicare to subsidize the lvads and if granted, they will be big beneficiaries. Instead of the few thousand they have produced sofar, the sky will then become the limit.
At present the total cost is about $US200,000 (it is in a post somewhere). This includes supervision and all hospital costs.
Obviously, if expenses are paid by Medicare, then the demand goes up and it could become astronomical as the number of congestive heart patients is about 11 mil. in the US alone.
Although not in business I would expect VCR to benefit as well.
Gerry
VCR
ventracor limited
