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

To: padco who wrote (9804)	6/14/2002 9:10:13 PM
From: Montana Wildhack	Read Replies (1) \| Respond to of 14101

As I understood it, the initial front runner was 1/2 of the Glaxo-SmithKline group which ended up merging and changing their priorities. My understanding also is that REK had some doubts about getting sufficient committment and decided to go with a very fat percentage of a small and hungry company which she judged Provalis to be. 12 months after launch there is some 69,000 in Cdn revenue presumably from Provalis in a 270 million sterling market of which a material slice is topicals. Despite research showing it would be a battle to penetrate in the UK - you have to be a yahoo to think this won't be a clear case of non-performance. Whatever the performance details are in the legally binding agreement and given that our CEO terminated it shortly after May 31, its clear there won't be a material number there this May 31 quarter either, it's a safe bet it was a lot higher than 69,000 plus. We made a mistake. It won't be last one. I had written the UK off and I agree with the comment this is a second chance to do better. Doing worse would be more immaterial than the revenue we've seen so far. The missing number is 1,700,000 when you follow the cash and on a tight budget. Wolf