Ok so I got moderated for the particular thing mentioned so I will put my post up minus that:
Oh FireStorm aren't you a selective and different kind of investor. You try and pick out negative things from a company that is rapidly growing and changing at every turn, for the better!! Your nit picking of certain information is very questionable as to what your actually trying to do here and your lack of understanding about the company adds to this.
(FireStorm) How many medical devices (ex-syringes) has UNI sold this year?
We dont sell them we contract manufacture the devices. This is evidenced that it is still going by way of monies earned quarter after quarter, again very public to access. As any person should know these sorts of things take a lot of time and we are being paid throughout the creation and manufacturing processes. One should also be aware that if these devices are new then things like patents and regulatory approvals must be obtained first, so much of this would be commercial in confidence by nature. The company has said as much previously.
(FireStorm) Does that mean the promise of selling Medpro products wasn't a fact?
Well have shown with this question/point, while trying to mask it as a negative, that you have a lack of understanding of the company. This is public knowledge and the company has made it quite clear WE CAN DO IT ALL OURSELVES. Medpro was just a back up plan imo and Im very glad that we are not sharing revenues with medpro. Heres the announcement:
Termination of Agreements with MedPro Safety Products. In May 2007, Unilife and MedPro Safety Products LLC ("MedPro") signed a Binding Heads of Agreement to manufacture the MedPro blood collection safety devices. In November 2007, Unilife also signed an Option Agreement with MedPro for the exclusive right to negotiate the terms of a License Agreement for the distribution of Unitract clinical syringes within the US. Under the terms of the Option Agreement, MedPro paid Unilife a US$3 million Option Fee, which Unilife could elect to return with 7% per annum interest should it not wish to proceed with the Agreement. This proposed Agreement would also have resulted in MedPro receiving an amount equal to 10% of any annual adjusted gross profits on sales (capped at US$15 million) of the Unilife Prefilled Syringe within the US during the proposed five year contract term. Following the June 2008 decision to pursue organic growth opportunities and not enter into a scheme of arrangement with a US company, Unilife has been in negotiations to terminate these two agreements with MedPro. In particular, Unilife sought to avoid any requirement to provide MedPro with a percentage of any US sales of the Unilife Prefilled Syringe that may have occurred during the contract period at an amount far in excess of the $3 million Option Fee. The parties have therefore agreed that Unilife will pay MedPro US$2.3 million in a full and final settlement of all obligations (including accrued interest of $157,500) for Unilifes termination of the Option Agreement. As a result, Unilife has negotiated a saving of $US857,500 through the repayment of this interest-bearing liability.
And lastly UNI have changed their business plans, once again we have been told this in numerous announcements and we now have full control over manufacturing in-house. The changing of the business plan has also lead to the FACT that the Industrialisation Program is a full year ahead of schedule, ready for around years end 2010 not 2011, yet you leave this out of your points. The other points to your argument are mute compared to the prefill and I for one am glad that the company decided to concentrate on this being bought forward because we will get to see much larger earnings and much earlier. To paint doubt and question as to the company while not acknowledging the above is very suspect.
UNI Price at posting:
90.5¢ Sentiment: LT Buy Disclosure: Held
(20min delay)