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Gold/Mining/Energy : Nuvo Research Inc -- Ignore unavailable to you. Want to Upgrade?

To: Montana Wildhack who wrote (7610)	8/16/2001 7:05:12 PM
From: Montana Wildhack	Read Replies (1) \| Respond to of 14101

Q4 sales - 1,652 Q4 cost of sales - 151 Q4 gross profit - 1,500 Q4 Pennsaid revenue - 1,430 Q4 Dioptic revenue - 222 The cost of sales are 100% dioptic. There is zero here for Pennsaid cost of sales and the accounts receivable are flat. No entry was made debiting COS and crediting Inventory for Pennsaid. .... Q3 Inventory - 934 Q4 inventory - 912 They increased staff in Quebec from 14 to 34, announced 1.43 million in Pennsaid revenue; but made no charge from inventory to cost of sales and produced $22,000 at cost of Pennsaid for the quarter. Uh huh. ..... They have a letter of intent, need to do due dilligence; but wrote off their capitalized distribution rights for WF10 in Canada in what is the prior fiscal year to the announcement. ..... Their loss for the quarter was (6,146) But they wrote off 4,771 in non-cash expense Rough cash funded loss for Q4 is (1,375) A tremendous improvement over the (3,499) the previous quarter (much of the rest comes from the drop in admin expense of 500,000 for the quarter - 1,850 vs 1,349) ..... Conclusions: No Provalis Pennsaid sales in the UK were recognized in 2001 and are all yet to come. They're going ahead with OXO. Cash now adds but is just about gone at this point (assuming my gross margin and missing inventory calculations are close). We still have no clue on Pennsaid gross margin. Provalis paid about 700,000 pounds sterling up front. Q1 2002 sales reported will exceed 1,652 Cdn by a material amount and Q1 reporting will be published prior to the AGM. They've spent close to $2 million in capital improvements so far getting ready for US production requirements.