hi umshebi, page-2

Hi seanmorr

I see two forces at work here.
1. The demise of the market generally and the associated negativity that feeds in to companies like IMI as a result, from a purely "market" perspective; and
2. The residual of what was seriously dodgy management over the previous 12 months acting as a "soul destroyer" of IMI from a market perspective.

From a share price perspective, both are nearly killer blows and there is plenty of potential for IMI to go to .005 in the short term as a result, testing the mettle of any holder.

Where I think Roman is coming from is that the research findings are complete enough to publish very good results, those findings have been accepted for publication in some of the most reputable journals internationally, the Cardanal AG software is done and ready to go (they are talking with an OEM software distributor/medical software house and have recently put off at least one of the internal software developers, as that phase nears completion), Sigma will keep the ship afloat over the next 12-18 months from a cash flow perspective, they are getting traction with corporates (word is that news is coming there), the executives associated with WorkHealth are listening (and Vic. government is highly unlikely to subsidise IMI and then turn around and ignore them when it comes to rolling out WorkHealth, so something will come of it).

Biggest short term issue is lack of cash. My personal opinion is that the new Chair and Director, at the least, will be part of a private equity placement in the next 4 weeks. If they were going to send a signal of support for IMI by buying shares on market, they would have done that well before now. Buying shares on market does not help IMI though, only a capital raising or placement will. I'm betting they will go with a placement with the Chair and Walker involved. That sends a huge vote of confidence to the market by them in the company, restoring some soul, and also benefits IMI with cash. Either way, it has to happen or they are broke.

If I was the Chair/CEO, I certainly would be promoting the enormous opportunities for IMI to my staff and I would be pretty upbeat about where it is going to be in 5 years from now. A lot of staff think in terms of those medium/long term timelines. If they can be sold some job security with a company that is going places, then it is worth staying for at least 1-2 years to see if it starts to transpire. Traders obviously don't even have those thoughts, let alone that vision, so from a SP perspective, it will continue to stagnate until the next quarterly, where the first Sigma sales start to hit the books under accrual accounting processes. Investors will have a similar vision and approach to staff, as long as they see some "security" in their positions as well.

This is a crap ride, don't get me wrong, but there are still a lot of positives there.