Ann: India Joint Venture Agreement, page-27

Unfortunately today's announcement is yet another bit of smoke and mirrors lacking in detail aimed at trying to boost the credibility of what is actually a pretty incompetent management team (CEO actually has some good experience but needs decent support under him). Never in my time have I seen a so called JV that is effectively just a distribution agreement where amazingly the distributer "partner" is getting paid to be given an exclusive deal to sell a product. Usually it's the other way around I would have thought. Would have been a price sensitive announcment if they had put up some cash and bought into Respiri. Secondly, Respiri does not have the money to be paying a retainer. Not that we know how much the monthly retainer is. So, unfortunately this is another miss and the market had spoken with me.

That said, it does look like that on the surface MedAchievers could be a reasonable for and might help with entry into India. We just need to make it through the next six months with no money in the back and fat salaries still being paid out. Fingers crossed but hope fading without some deep pockets on the way.