still issusing options at current strike price, page-45

Gifter

The sales contract should be the catalyst for a rerating of the company by the market simply because it should provide hard figures for those who only act on them

The sales agreement can not be signed until the validation tests are complete . In theory it could but it would be unwise. A scenario such as contracting to supply more syringes than the line can produce because the line does not produce product to correct standard at the speed contracted for would be a disaster for UNS and a problem for Sanofi.

Under the contract with mikron the validation is supposed to take 30 to 45 days this would be the 17th may however the chairman has stated it will finish in June I do not know why

We do not know how long the sales agreement negotiations will take . My guess is not very long maybe a month I base this guess on UNS and Sanofi having been in close relations for three years now and I would suspect that each knows the others position and given the goodwill between the two will go the negotiation table with positions that are easily reconcilled

Given that some product is being produced during the validation tests this would give a sales agreement being signed during late june early july and first shipment in July this is consistent with the companys statement of shipping in July

If the SP does not move at the signing of sales agreement or first shipment I dont believe it will move until we have annual audited figures of the sales

In addition the signing of a second pharma could cause a spike


Warning there could be a false break out when the validation is completed

This is just my assesment of the current situation and could be totally wrong or blown out of the water by information I am not aware of .In addition the signing of a second pharma could cause a spike

I hope this helps you