Obviously everyone is sitting back waiting for the appeal to be heard in the Victorian Appeals Court. At the end of December cash balance was $12.4m including the $8m it received from the judgment against Fred IT/Telstra Health. It was also after PharmX had handed back $4.5m to investors after the sale of the Corum business. With no debt and positive cash flow from continuing operations even if it has to hand back some or all of the cash and costs awarded PharmX will still be in a strong position going forward. It currently has market dominance (virtual monopoly) and seriously working on growing its business with PharmXchange. Once the legal distractions (and costs) that have been going on for several years are over a clear picture will emerge of what is a fair value for the company. If the appeal goes PharmX's way and the full year results are pointing to a growth in earnings then the share price will rebound significantly.
PHX Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
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