evidence presented on uni's cheap promises

Everyone please read the following info I have extraced from UNI's announcements and then come to you own conclusion

Announcement on 28 Oct 2003 - Patents

Unitract Ltd (ASX: UNI) is pleased to announce it has lodged patent applications for an interchangeable needle mount that significantly increases the suitability of its innovative syringe technology for the clinical injection requirements of health care facilities.


3rd qtr report Jan 04 - Patents

In January 2004, Unitract lodged provisional patent applications for a range of larger sizes of the Unitract Syringe. Significant activity has occurred in developing prototypes of the new 3mL, 5mL, and larger sizes of the Unitract Syringe which each feature an interchangeable needle mount designed to meet the clinical requirements of hospitals, surgeries and medical clinics.

Qtr report MArch 2004 - Patents

Research & Development In January 2004, Unitract lodged provisional patent applications for a range of larger sizes of the Unitract Syringe. Significant activity has occurred in developing prototypes of the new 3mL, 5mL, and larger sizes of the Unitract Syringe which each feature an interchangeable needle mount designed to meet the clinical requirements of hospitals, surgeries and medical clinics.




If you read the 4th qtr report, you will not find any info on patents. Talk about keeping shareholders informed of developments, UNI are hopeless. I assume if patents were approved, there would have been a huge announcement about that. If they werent approved, why not just tell the mkt?? or just tell the mkt approval its still pending.

If you then read the 1st qtr report, Oct 2004, you will once again find nothing on patents.


2nd Qtr report Jan 04 - TGA

During the quarter, Unitract has continued discussions with the Therapeutical Goods Administration (TGA) and the Food and Drug Administration (FDA) to secure regulatory approval for the Unitract Syringe. With a former TGA auditor and FDA Assistant Division Director as part of Unitract’s team, the Company remains confident it will comply with all requirements to secure regulatory approval.

4th qtr report July 2004 - TGA

Unitract has commenced the process of relocating the manufacturing equipment to its manufacturing facility at St. Marys, Sydney. Upon commencement of production at the St. Marys facility, Unitract will apply for TGA and CE mark approval.

1st qtr report Oct 04 - TGA

The manufacturing process for the 1mL Unitract Safe Syringe is in the final stages of completion for high volume / high quality production. Unitract has already commenced relocating manufacturing equipment to the manufacturing facility at St. Marys, Sydney. Upon commencement of production at the St. Marys facility, Unitract will apply for TGA and CE mark approval.

Whatever happened to their TGA auditor in Jan 04? Why then all of a sudden have they gone from seeking TGA approval to waiting for production to commence at St Mary's before applying for approval. Talking of production please read further below.


13th Feb 2004 - Media release

The Company is confident of commencing production of its products in either late March or early in the 2nd quarter of the 2004 calendar year. The testing process is time consuming and complex, but once completed, will facilitate the rapid commencement of full production at the Australian production facility.

What a cheap promise. According to the annoucement, production should have started at no later than 2 months after this announcement was released. 10 months on, we still dont know when production will begin.

Also on 27 May 03, they announced that their plant at St Marys will be completed by Sep 03. THe plant was completed 19 Dec 03, 2.5 months after schedule.

In conclusion, this is a dodgy company with dodgy directors. If the above evidence/research Ive presented to you doesnt convince you, well you probably deserve to lose all your money. The most overcapped stock on the market.

Comments and answers most welcome