just got back from meeting, page-9

IMMINENT! buahaha I just had to say it again.

Alright got back from dinner an hour ago and have been trying to call my mate from the meeting... apparantly it ran quite late due to lack of seating and the room being packed to the rafters!!! Quite rude of him to keep his phone off during the meeting !! we had a phone date planned!!

Seems some have already posted an update on HC - and it sounds pretty consistent. Mood was quite inquisitive at first.. but once they got into it the enthusiasm picked up and my mates greatest fears were banished. No smokescreen or mirrors at work.. he was quite convinced that this was the real deal. Having entered the meeting a sceptic, he was left contemplating the potential walking out of it. Although he did pick up on some of my 'fast-tracked' timeframes.. and he brought it into perspective. Things wont happen overnight - but he is not confient they will happen.

My expectation of the Tomsk site being built in 1.5 years .. reality is more like 2.5 years. Although he did agree that FY09 would be the turnaround year.. in that SLA WILL post a decent net profit (with 40,000 courses sold rather than 120,000 as I earlier anticipated).

He did also note the fact that a darkhorse caught his attention (and many others) tonight. BioA is actually doing very very well. Apparantly they cant produce enough of the stuff... important note for him in terms of short term cash flow.


He struggled with the technical stuff so I'll have to depend on someone else to update me - but overall his feeling is that shareholder interest was at an all time high and attitudes were positive.

Talks on pricing were sensitive and as mentioned by others has been delayed due to tax reasons. I wouldnt want to be taxed 55% either! Happy for them to get it right from the initial step with tax - as it hurts the bottom line considerably. They were confident in getting their tax structure in place in around a months time. All the while producing Ropren and making BioA sales.

He also noted the film crew would have had a feast having a room packed of shareholders.. will be for good viewing at a later date =)

anyhow couldnt get too much more detail off him .. will update once I do. Happy holder signing out!