huge news, page-12

blokes, it's impossible to predict what the PBIOA's are going to do in the future and any chartist who says otherwise is pulling your leg.
On the surface, you're on a winner - when PBI has a market cap. of just $25 million, then your oppies will be in the money. And you have 5 years for that to happen before the options expire!
Seems like a good bet, but 2 years ago we bought PBIO's, confident they would be in the money sometime over the next 2 years!
The big risk for me is the inability of PBI, so far, to generate income from the sale of its products and services. You'd have to agree the income figures released this week were very disappointing. If this continues, they'll have to make more placements and that lessens the value of the oppies.
But , to offset that is the fact that the directors never wanted more than $4 million from the conversion of the PBI's (as shown by the underwriting agreement) and that indicates they assume they'll have enough cash to launch their new products, without increasing the no. of shares too much.
Personally, I won't buy the PBIOA's because the leverage at current prices isn't that attractive. I'll stick to my f.p's and wait patiently. Which is what we've been doing for 2 years now.... If PBI has a market cap of say, $100 million after 5 years, we'll all be laughing, regardless of whether we hold fp's or options.
And for that to eventuate, I suspect the Cochlear connection will be crucial. Do we know yet if Dr. Parker is going to continue with PBI ?