I just spoke to Peter Stedwell (director). For obvious reasons he could not disclose any details of upcoming announcements but here is what I found out:
Q1. When can we expect to here about the results from the visit of Farmacon executives in September?
Answer: An announcement is pending so I cannot say anything about it. We are waiting on paperwork from overseas.
My thoughts: They probably have broadly agreed the terms of the marketing deal and are waiting to finalise the legal documentation prior to announcing the terms.
Q2. Will the funds obtained from the call on SLACB's be sufficient to fulfill the companies plans?
Answer: Yes. The April call in particular will be used to fund the startup of manufacturing for Bioeffective R (Ropren).
My thoughts: No further capital raisings are anticipated.
Q3: What are the plans for any SLACB's which are not paid up?
Answer: Last year the total number forfieted was about 500K SLACB's. They were forfieted and no plans at this stage to place them although they can be placed at any time.
My thoughts: Don't expect any cheap SLACB's to be hitting the market. Most will probably be paid up and the rest will probably be forfieted. Last years shortfall amounted to approximately $10,000.
Q4: Are you still expecting approval for Bioeffective R entering the Russian Pharmacopeia?
Answer: Yes, I asked the Chairman about this last week and he still believes approval will be granted prior to the end of 2005.
My thoughts: All is on track here. December looks like it will be a good month. I'm intending to go to the AGM next week to meet with the directors and hear what they have to say. Everything sounds like it is on track to me. Good times are coming soon.
SLA Price at posting:
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