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Gold/Mining/Energy : Nuvo Research Inc

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To: DaveAu who wrote (13602)9/16/2004 11:40:21 AM
From: Cal Gary   of 14101
 
... and more media coverage!

Globe says Dimethaid touts future of Pennsaid

2004-09-16 05:57 ET - In the News

The Globe and Mail reports in its Thursday, Sept. 16, edition that fighting to score points with shareholders ahead of a proxy vote on Tuesday, Dimethaid Research predicted that sales of its Pennsaid pain ointment will top $1.5-million (U.S.) for the first quarter ended Aug. 31, a year-over-year increase of 120 per cent. The Globe's Leonard Zehr writes that Dimethaid also forecast continued growth in worldwide sales this year, noting that it plans to begin shipping Pennsaid to its Portuguese partner in late September, with a marketing campaign in Greece scheduled to start later in the fiscal year. Despite earlier warnings that it would run out of money this summer, Dimethaid said it ended the quarter with $654,000 (U.S.) in cash. "Once we get through this period of uncertainty, we can resolve the financial situation and move ahead with our business plan," said president and chief executive officer Rebecca Keeler. Dimethaid's shares fell two Canadian cents to conclude Wednesday's trading session on the Toronto Stock Exchange at 47 Canadian cents. The stock has a 52-week trading range of $1.99 (Canadian) to 25 Canadian cents.
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