Universal Medical Sytems (UMSI) Message Board

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Microcap & Penny Stocks : Universal Medical Sytems (UMSI)

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To: ARCHIE P. who wrote (433)	12/11/1997 4:37:00 AM
From: Laurens	Read Replies (1) of 1672

Archie P. I am responding to your message 433.I heard today that the CT Sim is a valid product but the design needs to be finished to make the system competitive in the current marketplace.This project has been going on for l8 months and key elements are missing. I am told that the systems delivered to Taiwan were not fully developed and have been under installation for more than a year.I understand that an engineer was not allowed to work on the systems because they are not what the hospitals ordered.There is a good chance the hospitals will sue for return of their money($1.5M plus damages). The hospitals are owned by Formosa Plastics,they have a string of them. The 3rd Taiwan system only worked a small amount of time and the customer is due many upgrades that are overdue and not in production because there is, so my contact assures me, no production. Some postings have mentioned empty office space. A year ago there were close to 40 people working on MHTI, that has dwindled down to 10 or abouts. Archie, you also mentioned the PVR projet.I am told that the people working on this project left last summer because they were not being paid.The salesman also left a few months ago because he was not being paid either. There is also litigation around the PVR product. The Cancer Detection System is an infra red device that might have promise if a lot of work was done on it,but not much has been going here either,perhaps because this is the product that the SUPRA (Delaware Court Suit) is about.I hear the Injury Management Chair is a possible promise,if more was done to complete the design.The joint venture with the Chinese is a bit of a ruse as this ultrasound unit need a tremendous amount of development, and I understand that again not much is being done. At l5 cents a share, a lot of buyers still seem to think UMSI is worth a gamble. However large their problems, I hope UMSI will find a way to get out of this goofy mess. LB

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