CCSI - something is pushing this baby, but what? There is the ever-present rumor that they will name a distributor soon. The 10-K claims:
The Company has agreed on definitive basic terms with two potential marketing and distribution partners for the exclusive distribution of the Colormate(Registered) TLc Bilitest(Trademark) System in the hospital, pediatrician and home healthcare markets. Both of these proposals include terms requiring minimum annual placements of the Colormate(Registered) TLc Bilitest(Trademark) System and TLc Lensette(Trademark) calibration standards and/or charges per use. The Board is reviewing both sets of terms as well as recommendations of its advisors and the Company anticipates selecting one of these distributors shortly.
But in fact they have named one in the 10-K:
In January 1999, the Company appointed Medical International, Inc. as its exclusive distributor of the ColorMate(Registered) TLc BiliTest(Trademark) System in certain states; in February 1999, the marketing efforts of this distributor commenced.
What states are those? State of confusion? Why can't they name the states or where this distributor is located? Anybody heard of Medical International, Inc.? I found this on an "Oxboro Medical International, Inc.":
pathfinder.com
In Ward's Biz Directory I also found an "International Medical Industries, Inc." 12295 Wiles Road, Coral Springs, FL, (954) 344-9169. They are a private company with 15 employees and approximately 1 million in annual sales, they make disposable medical instruments. An "International Medical Services Network," 185 N.W. Spanish River, Boca Raton, FL (407) 393-0050, is a medical wholesaler, but I have not called them. I found a 1997 address for "International Medical Services and Supplies, Inc." 4506 L.B. McLeod Rd. Suite F, Orlando, FL 32811 (no phone), owned by Rotech Medical Corporation, but Rotech was bought by Integrated Health Services, Inc. I can't find any other company matching this name, and it appears to be a coincidence that these are all in Florida.
I think if they name a national distributor the stock will pop, only to settle back to earth when people realize it is more of the same vague hype as the rest of their PRs. It has been nearly two years since CCSI got FDA approval for the device, and they have yet to find a distributor. Although they claim to have a manufacturer, they won't disclose who it is, as that might lead us to find out how many of these things they are actually making. |
