Let's recap:
1/7/97
UMSI enters into a joint venture agreement with Mi Anyang Electronic
instrument Factory (MIEI) of Sichuan Province, China. Mr. Baker says: This joint venture alone should result in profitable sales to UMSI in excess of $5 million during the next 12 months and over $10 million in 1998. At the same time Mr. Baker reminds us of the agreements signed with STC Corporation of Seoul, Korea, and JTC Corporation of Jilin Province, China.
1/28/97
UMSI announced it had finalized agreements for production and distribution of their medical systems throughout Asia. In making this announcement,Mike Baker, President, stated that as a result of two Joint Ventures in China and a Marketing Agreement in Korea, that the Company has set the stage to move rapidly into one of the fastest growing markets in the world.
2/11/97
UMSI unvieled its new optical imaging system. Using near infrared
digitized images, the system is designed to dramatically improve the
physician's ability to generate images which can be enhanced,
magnified, and transmitted to any location. The system was targeted
below $100,000, with a minimal procedure cost the system can have
wide usage in the medical community for most medical disciplines.
4/24/97
UMSI initiates a new sales program, and already received an order
for its new C.T. Simulator, which sells for over $500,000.
5/12/97
UMSI aquires the rights to the Cobalt Scalpel, a non-invasive, focused
radiation therapy system to treat cancer. Management believes it can
sell a minimum of six systems during the next fiscal year. Each system
will generate approximately $2.0 million.
6/6/97
UMSI get 2.2 million from Select Capital Advisors. Select says: When
sufficiently capitalized, this company can develop from one with an
enormous potential for growth, into the reality of being an industry leader.
9/4/97
UMSI announced it had reached an Agreement to acquire Imaging
Products International, Inc. (IPI), located in Chantilly, Virginia, and SAMBA, a Division of Unilog, located in Paris, France. Combined sales of IPI and SAMBA exceeded $2.0 million over the past 12 months. More than 50 systems have already been installed at various locations, including the National Institute of Health, Johns Hopkins, M.D. Anderson Cancer Center. An average system price is $75,000.
9/22/97
UMSI sells a CT Simulator to The North Middlesex Cancer Center, located in London, England. The purchase price for this system is in excess of $700,000. Kindamo, the UMSI sales manager, also stated that there is in excess of $10.0 million in outstanding proposals for the CT Simulator and related products.
11/5/97
Select Capital Advisors commits to 5.5 million, funds $400,000. Select says again, Universal Medical is a strong company with an excellent management team. When sufficiently capitalized, this company can develop from one with an enormous potential for growth into the reality of being an industry leader.
Today
This stock is sucking swamp water at around 12 cents per share.
What am I missing?
(Sorry for the long post, I was off today and started looking back
at the history of UMSI. Couldn't resist this recap)
Skaar |
