due for a run., page-28

re: excellent volume yesterday hi mate ...

i thought there were a few more than 2m pbios converted, havent sat down and calculated the 3bs ... still we couldnt really expect much more with pbi ords sitting at .20 (!) .... no point putting the underwriting aside, because once they had they had that deal stitched up they obviously viewed other conversions as a bonus, they were always thrilled to get $4m min in.

dont get me wrong, i think management should have had this one at .30 months ago. but still what could possibly be the method to the madness here ....

1. get just enough money in with less immediate dilution?
2. get mates aboard with some juicy freebie options ?
3. burn off the pesky oppies holders who ask too many questions and thought they'd get rich with minimal outlay?
4. when they have all the big fish mates set, releease the big announcements ?

see i can be cynical too ??? but really reality is that they'll get $4.5m + cash in this week and still only have 100m shares on issue .... not a bad result for those still holding imo

they have contracts due out of china, uk and even usa ... new simulators on the way for trauma and radiography. a possible JV with cochlear in china (!!), NHS to fund medical training centre rollout (!?), KSX stake grows and expands, more aus govt grants, nmore UK govt grants, rollout in ireland and europe ... ramp up of epidural unit's sales, an aquisition ?

it's all about to happen ... i borrowed heavily to stay with PBI .... i boguht my oppies at an average of .08 and got screwed .... but not for one minute do i not think that this company is not going places. it'll go like this ... .30 first stop. .50 by midyear ... $1 this time next year and ultimately $2. that's my call. (although i'm often wrong - particularly with this stock - so dyor)

the oppies conversion is now the past ..... its all about what comes next imo.