Ann: Appendix 4C - quarterly, page-13

With quarterly result out, today closed flat at $0.195 with large volume. I think today is pretty good for those wanting to buy, as well as those wanting to sell, because investors have the latest information and can trade in large volume.

While the quarter cash statement is quite general, I have collated the results for the past 5 quarters.
The key financials are:
- Receipts are quite volatile but trending up.
- Manufacturing cost is generally aligned with receipts
- Advertising cost is quite disciplined.
- Staff cost remain the biggest cost and constant
- Admin and corporate cost has increased, depending on expansion of operation.

Overall, I think the result is positive that UCM is cash-flow positive and profit-generating. Those on the sell side probably argued the downside of its one-off purchase business model, because the demand will saturate and taper off. I think as long as UCM continues to be the market leader in its technology and research to meet/exceed customer's need, the home-care and clinical-care markets are more than enough to justify its current market valuation. To me, technlogy advance/Intellectual property remains UCM's biggest competitive advantage, which opens door to licensing technlogy, joint development and even spin-off. I hope UCM continues to focus/spend on R&D, and not gets distracted by market sentiment and short-term profitability.