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Microcap & Penny Stocks : Universal Medical Sytems (UMSI)
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To: HRAKA who wrote (144)8/12/1997 8:08:00 PM
From: HRAKA   of 1672
 
To whom it may concern,
As I said yesterday, I spoke at length with Mr. Baker (CEO). Following is a list of the questions that I presented him and the answers in my understanding that he gave.

Question: What are the company's plans in pursuit of a listing on a major exchange?
a)What exchange?
b)When would UMSI likely submit their application?
c)How does the company plan to boost the stock price per exchange requirements?

Answer: UMSI plans to submit their application for NASDAQ listing in fourteen days. UMSI hired two PR firms last week. The PR companies will be in competition for ninety days at which point UMSI will choose one. One of the PR companies is Martin & Janus out of
Chicago, and the other could not be revealed at this time.

Question: Where does the company stand with the FDA on its N-frared scanner as related to breast cancer exams?

Answer: In the next couple of months an acquisition of a company
named Digital Optical Imaging will put UMSI in position to get started with FDA approvals. Because of previous groundwork in this technology they don't have to go through the full deal and will likely be done in a few months to a year.

Question: When does the next quarterly report come out?

Answer: UMSI's FIRST public quarterly report will be released September 30th.

Question: When does UMSI speculate to have positive EPS?

Answer: UMSI speculates positive EPS will show up in their December 31st filing of this year.

Question: What are the company's long term plans for management?
a)What does Mr. Baker plan to do when his contract runs
out in a couple of years?
b)If Mr. Baker does not renew, what are UMSI's plans
for new CEO?

Answer: Mr. Baker's contract runs out in 3 years at which time he will be chairman and in charge of acquisitions. Also, at which time the company will replace him with a strong figure.

Question: What are the company's long and short term plans for the future?

Answer: The company's primary growth will continue to be by acquisitions. They do not want to be a technology driven company. Most of their business in the near term will be in the Far East, and plans are underway to step things up in Europe and South America.

Other things of note that were picked up in our conversation:
The 50 cent shares from the first offering are sold off now (probably this has been what has been depressing the stock price-this is reinforced in the Wharton Capital Report). Since the 8 million dollar financing the company received a couple of weeks ago, they have received another 4 million for operational expenses(more acquisitions).

If there are any questions, please ask me and I will try to clarify. Remember, these answers are in my understanding of what Mr. Baker said to me. I picked up 1600 more shares today.

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