I wonder whether IMI is really as close to reaching...

I wonder whether IMI is really as close to reaching profitability as some on this board seem to think.

1) December newsletter stated that 1000 tests in the month were Intelliheart, 600 were Allied Health consultations

2) Allied Health consultations have been added into the mix pretty quietly. If you go back to the "target" procedure numbers as set out in presentations back in around April 2006, it all seemed to be about Intelliheart. . . . now they are hitting the targets, but 30% of the procedures are not Intelliheart

3) While investors have some handle on the marginal profitability of an Intelliheart test (although the goalposts on this have also shifted many times) . . . . we have no guidance on the profitability of Allied Health. My GUESS is that the profitability of these procedures is pretty low.

4) Company quarterly cashflow as reported continues to be abysmal. . . . and a heck of a long way from "breaking even in the new year"

5) I also have some lingering doubts about the number of Intelliheart procedures. The newsletter talks in terms of "Billable Procedures" - my (albeit limited) understanding is that most patients having a full Intelliheart test will be the subject of medicare claims under two rebate codes. Is this therefore two procedures?? If so, 1,000 Intelliheart procedures in the month of November = 500 patients = less than 20 patients per machine in service

6) Please note that item 5 above is uninformed speculation. . . .but it may clarify why cash receipts seem to be lagging to such a degree!