Some notes of interest from conference call...although I was not on the entire thing since I was taking some other family related calls. Anyone else who attended the call, please post and correct me if I am wrong.
1. Fully reporting by 6/1/99.
2. Couple new "friendly" market makers. Rocky Mountain Securities in Denver, CO and Comprehensive Capital in Florida.
3. No longer seeking equity capital since they are generating revenue. Looking at bank guarantees, lines of credit, etc. These monies will be used primarily for developing inventory and overhead. Backstroke needs to have at least 2 months of inventory ($450-500,000). Bontempi needs to have at least $200,000 in inventory. Didn't catch Safeshield inventory amount. Only heard that Dermaguard has prepaid 1/3 of their amount and the rest was due in April.
4. No further acquisitions at this time since they are focusing on building business and product lines, not debt structure. Keeping a close eye on and investigating ways to expand technology side with electronic commerce.
5. Management team committed to working together. Brought in some new "bean counters" with Robert Half Management Company, which is helping to set up CFO function...to be announced in approximately 60 days.
Overall, it was interesting to hear Dan Hoying on the call, as well as all of the synergies that were talked about. I am interested in seeing how the stock price, IR firm, MM, etc. will react when many of these "pissed off" investors hit the market with tons of paper. Supporting the BID and pulling certificates will help, but NBMX is going to need to swap the float and bring in some new investors, in my opinion. The next few weeks and months will prove what kind of game these players have. |
