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

To: john.d who wrote (8571)	1/29/2002 12:24:36 AM
From: axial	Respond to of 14101

Hi John - "I listened to the CC and to me Becky was not as upbeat as usual and didn't say as much as I expected about FDA. Anyone else have that sense?" I haven't listened to her as much as anyone else here; I was reluctant to post my opinion. Her comments were spoken carefully; nevertheless, my sense was that this was someone who was taking some pains to stay within acceptable bounds in her remarks. I felt that this was someone who has been dealing with an extended run of difficulty, could do no more than state the facts, and was no happier about it than the audience. The address was devoid of happiness, or enthusiasm. Her comment re: whether HC would wait for FDA was typical. Yes, she had heard discussion that HC might wait. Nevertheless, she "would hope" that it was not so. My sense of the tenor (as opposed to the substance)? Ostensibly factual, hiding frustration and some irritation. JMHO, Jim

To: john.d who wrote (8571)	1/29/2002 1:02:55 AM
From: Cal Gary	Respond to of 14101

Hi John, There is very little Becky or anyone else can do at this point, the planning, organization, performance contracts, test protocols all needed to be properly done long ago. Not that I'm saying they were not done properly just saying that there is a limited amount one can do at this point. Its probably safe to say DMX was the lone financier for the WF-10 phase III. Give the amount of cash injected in to OXO, I would very much expect that everything as you mentioned above "needed to be properly done long ago." It MUST have been done properly. I believe Rebecca occupies one of the seats on the OXO BOD. Especially in a private firm, she can insist on protecting DMX's interest any way she sees fit. I totally expect that she has. I like your analogy. The little I know about RK, she is a detailed thinker, so I'm hedging towards QA and monitoring was done. IF the QA or any monitoring wasn't done, then its definitely too late now. Like I said, RK had the opportunity to buy a ticket for the Queen Mary trip. I sure hope she did. With this new information on the state of the WF-10 analysis and Mark's caution to get the data analysis right, I bet the timeline has pushed further into the future. Before, RK did say a definitive purchase arrangement expected end of 2Q (Nov), and then today its end of 3Q or by Feb 28th. DMX involvement Dec in collecting, recording, but db not locked yet. Sounding more like 4Q.

To: john.d who wrote (8571)	2/3/2002 4:36:24 PM
From: Montana Wildhack	Read Replies (1) \| Respond to of 14101

Hi guys, We appear to be gaining on the cash position. Using 1 million as the current draw net proceeds to DMX, this would bring the cash infusion to 7.5 million for Q3. Their average net burn rate has been 2.9 million a quarter in 2002. This includes material offset swings in expense categories in R&D and Selling/Marketing. In the quarterly expenses has been a tripling of prepaids away from a yearend, and an additional 708,000 YTD to OXO I presume, reflected in Notes Receivable. I also notice the long term debt reflects the 2.5 million owed to the LOC offset by the additional 2 million in Capital Assets related to improvements in the plant. I was looking for a jump in selling expense and we'll need a few more quarters to draw rough conclusions about the impact of a Cdn sales force. The R&D moves around and I believe this quarter was simply a low number. Using 3.2 million as an anticipated burn rate, there may be something close to 5.3 million in available cash for Q3 February. These estimates are of course affected by all activities including the higher AR this quarter; but, I consider it essential to try to follow the cash. I'll be watching for another jump in Notes Receivable which should be converted into stock directly on any closure of the OXO acquisition as part of the use of these funds and I suspect some further increase in Capital Assets both cash funded. It appears to me that REK may have insisted on a solid floor on this placement or that Acqua declined going out of range. The more logical assumption I believe is that it was REK. Given the previous draw movements it appears clear Acqua was not opposed at those times in moving down with the price. With the 3.5 million of LOC open and moving somewhat in front of immediate cash needs, I think she may be getting a bit more selective at this time. At current average usage DMX is covered to Nov 30. I don't expect that will be the case since many new situations should be coming into play this year. I notice Streetsmart on SH is suggesting a move up from here is quite possible. We could now also receive the FDA report at any time (per REK). And lastely watching the tone of the OXO comments, I'm conjecturing that OXO has been asked to report in detail on the state of the phase III. I suspect there is concern about exposure there which could have an effect on the agreement. I have few concerns about the product itself; but, believe scientists do not make good business managers in general. Bring it on. Wolf