Ann: J&J/Ethicon Mesh Class Actions Update, page-73

I am waiting for the full year report. I will be looking at conversion to cash, how they are dealing with the mesh interest issue on the books and whether they pay a dividend. The WIP is largely irrelevant.

Shine say that they intend to make a further application for interest. Shine are either deluded or trying to push this issue off to another financial year. Shine may feel that they have nothing to lose with another application, but the judgment is full of warnings, and opening that Pandora’s box with another application could do more harm than good.

And if Shine are off to America, I want to understand what their plan is, how much it costs and how they are going to execute. This could be an enormous future drain on cash and I am not convinced that Shine should be going to ‘make it big’ in America. So many Australian companies come completely unstuck attempting this. They need to ‘make it big’ in Australia first.

And my sentiment has been sell for a while now, and incidentally has been right. But even a broken clock is right twice a day.