Ann: Trading Update, page-42

Re: "The trading update only relates to the device sales; which is not the pentrox sales."

I cannot understand how you could reach that conclusion.

Please consider the following statements from the start of the announcement:
"Medical Developments International Limited (ASX: MVP) CEO, Mr. John Sharman, warned today that despite the fact that during FY18 Penthrox has been approved for sale in 15 additional countries including Canada, Germany, Mexico, Sweden and numerous other European countries, the upside from this global expansion will not be seen until FY19.
Accordingly, MVP advise that Gross Revenue for FY18 will likely be flat or slightly down on FY17."

Clearly the announcement is referring to Penthrox sales and the lack of growth of sales until FY19.

This is a huge turn-around in outlook from last year, where the company stated:
"We expect a significant uplift in revenues in the short to medium term as new country registrations for Penthrox® and the new channels of distribution for respiratory products
translate into sales."

Something has gone wrong with their growth plans, but they aren't telling us what it is.

This company has been priced for huge growth, with a market cap of 17 times gross annual sales. If it can't deliver on the growth expectations, then it deserves a much lower market cap.