Here is an email (I`ve put few post from here together) I sent first to John Diasinos (company secretary) and then to PB as I haven`t received any reply from Mr. Diasinos at first.
THIS A BIT LONG SO SORRY GUYS FOR THAT.
OK EMAIL TO PB AND JOHN DIASINOS:
"Good morning Peter,
I apologise if this will be a lengthy type of an email, but would appreciate if these concerns would be addressed.
1. Is there a reason John Diasinos' email address is from zodiac, if he was appointed by Stirling? Or is he a company secretary for both companies?
2. Is the Canadian Pharma plant alreasy been approved, or are you just getting ahead of yourselves? This is from the front page of http://www.stirlingpharmainc.com/ "At our Health Canada-approved facility we employ cGMP standards and advanced technology to ensure you and your customers receive high quality products, right-on time."
3. There are some discrepancies with Prelim. Final report from yesterday and from last year (regarding year ended June 2009 - see bellow) the Preliminary final report for the year ended 30 June 2010 and the previous corresponding period for the year ended 30 June 2009.
30 June 2010 30 June 2009 % Change 30 June 2009
2.1 Revenue from continuing operations 451,063 678,004 (33) 571,277
2.2 Loss from continuing operations after
income tax expense. (5,322,624) (5,084,168) (5) (5,452,512)
2.3 Total loss attributable to members of
Stirling Products Limited. (5,322,624) (5,084,168) (5) (5,452,512)
4. Just a few announcements that still leave me with a few questions on the transparency of Stirling.
STIRLING PRODUCTS TO LAUNCH GENERIC PHARMACY RANGE
FOR IMMEDIATE RELEASE
23 December 2009
Stirling Pharma to launch in Australia in March 2010
National Australian Sales Representation in Place
Establishment of Relationship with Major International Pharma
TB AND HIV CLINICAL TRIAL AND MARKETING
AGREEMENT FOR NIGERIA
FOR IMMEDIATE RELEASE
18 November 2009
NORTH AMERICAN LAUNCH UPDATE
FOR IMMEDIATE RELEASE
21 October 2009
Australian healthcare company Stirling Products Limited (ASX:STI) advises that the
Companys first shipment of bulk botanical product arrived in Canada overnight and
is now awaiting Bond clearance.
STIRLING REPORTS INCREASE OF SALES IN MONGOLIA
FOR IMMEDIATE RELEASE
16 November 2009
Australian healthcare company Stirling Products Limited (ASX:STI) is pleased to
advise that the sales of the Companys products through its test marketing initiative
in Mongolia have continued to steadily grow.
The Company has been advised by its Network Marketing partner in Mongolia that
total sales for Q2 and Q3 of 2009 were (in AUD) $120,944 and $201,002 with net
profit for the respective Quarters being $17,879 and $42,876.
IMMUNOXEL APPROVED IN SOUTH AFRICA
FOR IMMEDIATE RELEASE
26 May 2009
Approval allows for Immunoxel sales as a TB and HIV treatment adjuvant
Australian healthcare company Stirling Products Limited (ASX:STI) is pleased to announce
another milestone in the expansion of the licensed (pending joint venture approval) botanical
products to markets outside of Ukraine. Immunoxel (Dzherelo) has been granted approval in
South Africa. This approval will allow immediate sales of the phytoconcentrate as an immune
adjuvant for TB and HIV treatment.
Reading back through the announcements, Immunoxel was granted access to the South African market and sales would begin immediatly. I wonder what has happend, South Africa is a huge market for this type of drug????????? at this time we already had sales in Mongolia.
We don't need projected sales anymore, we need actually products and sales to move the SP.
5. from a Progress Report 3 May 2010
Trials:
The Influenza trials in the Ukraine and the AIDS and TB trial in Nigeria are all
progressing well and will be updated during the course of the next 4-6 weeks.
Stirling also advises that the Companys South African Animal Products JV last week
commenced a two month Feedlot Trial of the Companys patented animal growth
promotion agent at the University of Pretoria. A total 80 beef cattle are being used to
investigate the potential of the Companys beta agonist as an alternative beta-agonist
to improve growth and efficiency of feedlot steers, as well as the related carcass and
meat quality attributes.
6. Major Partnership with Kidney
Health Australia
FOR IMMEDIATE RELEASE
25 May 2010
Pharmaceutical and Healthcare Group, Stirling Products Limited (ASX:STI) Is
pleased to advise the Company and Kidney Health Australia have entered into an
exciting national partnership.
Mr. Neil Covey, Sales and Marketing Director of Stirling Products, concluded: We
are honored, as a small pharmaceutical group to have been included in the
formalities at Admiralty House during the launch of Kidney Health Week by Her
Excellency the Governor-General. We also very much look forward to the
forthcoming finalisation of a number of product marketing initiatives with Kidney
Health Australia, the first of which we expect to be able to advise the market of during
the course of next month.
7. This is a view from a poster from a stock forum:
" Are we in for some exciting times?
Sale of offices in Sydney this week.
On going trial of Telemedcare units in England results due in about 40 days.
Opening of Canadian Factory soon and commencement of production expected by end of September
Expected monthly sales of $4m with about a 40% profit margin.
Possible third contracts
Result of US Civilian Research & Development Foundation funded doubleblind, placebo-controlled clinical trial of its botanical immunomodulator ImmunoXel due by year end.
Operational Protype of drug delivery platform due Q1 2011
And some other items that I may have missed.
I still have a concern with funding but surely with the above they should be able to arrange funding to cover cost until the money starts rolling in"
8. here is other view from another poster:
"I have so many questions flying about at the moment regarding past announcements by this management. More specifically, if you look at previous management, there are similarities. I'd like facts, not the same projections with a different colour paint.
I also questioned where we were going with the Cipla/Stirling branded generics in Aus, we really only have Rose Hip and Aden and Anais at the moment that we are marketing. Yet statements have suggested we should have Stirling branded by now.
If you understand Telemedcare you would also question Clinical use of the unit. I am not entirely satisfied that it will be successful with boots eg for patients to monitor their health they have to go into a Boots clinic and pay a fee to monitor their health. Tele health is based on the fact that you can monitor your health daily at home instead of going to the doctors. Not to count healthcare as such is free in the UK through your local GP.
Why state that we are in discussions with 3 major pharma's for the drug delivery platform? sounds like a pump really.
Why state we have grants of 3.5 million in the pipeline? do we?
Why state over 12months ago we earnt $$ in mongolia from immunoxel, then state that we have been granted approval in Sth Africa and would focus on sales......then nothing!
Also Peter reported to the media we are planning to have 25 scientists at the pharma plant and staff up to 150, yet we are going to try and sell Stirling branded painkillers in a tough market to begin with.
Geez, even the website is taking it's time. And we had to raise 50,000 this week through the issue of 5,000,000 shares to pay a lease from past management.
cash burn is the biggest prob atm
and the fact that Peter has committed STI to a massive increase in share volume if all his plans get approval as per AGM required
at the top of my head - locking in some not yet disclosed items,deducting realised sales yet to be done - we may get a 50-60% dilution on issued shares
this is why I want some more answers as they're not in the just released ann.fin.
Hinting at "insto interest" is all well and good - but first we need that cash and then look at dilution and long term viability
(as I said before: if you pick up too many items in a fire sale, beware of not becoming a fire sale yourself)"
I would like to thank you again for your time and looking forward for your reply.
Here is an email (I`ve put few post from here together) I sent...
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