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Biotech / Medical : XILLIX FDA APPROVED -- Ignore unavailable to you. Want to Upgrade?

To: jeffrey P. Sponseller who wrote (324)	10/27/1998 12:48:00 AM
From: Sameh	Read Replies (1) \| Respond to of 572

To all: I have been a shareholder since 1996. I averaged down in 1997. I doubled my shares when XLX went below cd$1.00. Now, XLX is cd$0.75-0.80. XLX is 25% of my RRSP account. I believe in the technology that XLX is introducing. However, I'm very concerned about the sliding share price. In search for the reasons, I looked more closely into XLX's news releases especially the financial results for the last two years. Here are some points that I'd like to share with you. Any comments are welcomed. ===================================================================== Quarter--Loss/-----common---Product--Cost-of--R&D-----Gain of selling ----------share-----shares-----sales------sales-----cost------Oncometrics --------(cd cents)--(Million)--(M cd $)--(M cd $)-(M cd $)--(M cd $) ===================================================================== 1996 Q4------(-3)-------23.8-------0.1--------0.3-------0.8--------2.6 (loss should be +10 if we exclude the Gain from selling 2/3 of Oncometrics) (total loss for 1996 is 19 -> 32 without Oncometrics) 1997 Q1--------2--------24.2-------0.8--------0.7-------0.8 Q2--------6--------25.8-------0.2--------0.3-------0.8 Q3--------6--------27.1-------1.0--------0.9-------0.8 Q4--------7--------28.5-------1.6--------1.6-------1.0 (loss is 22 for 1997) ( common shares increased by 4.7 Mshares in 97) ( cost of sales = product sales ?!!) 1998 Q1--------5--------28.5-------0.6--------0.6-------0.8 Q2--------2--------29.3-------1.1--------0.9-------0.9--------0.6 Q3--------3--------32.1-------0.9--------0.7-------0.8 (loss in Q2 should be 6 if we exclude gain of selling 1/3 of Oncometrics) (we lost 0.6 Mcd$ for not selling all of Oncometrics in 96) (in Q3, the common shares increased by 2.8 Mshares ?!!) ===================================================================== * In 97 and 98, the common shares increased from 24M to 32M (33% increase in two years ???!!!!!!) * On Feb 12, 1998: "Olympus has presented to Xillix a forecast schedule that will increase the sale of Life-Lung system by 100% in 1998" On Aug 24, 1998: "Sales of the Xillix Life-Lung flourescence Endoscopy system, by Olympus Optical Co. Ltd., continue to meet the company's sales projections" Sales in 1998's Q1,2,3 are: 2.6 M cd$ Sales in 1997's Q1,2,3 are: 2.0 M cd$ Sales in 1997's Q4 is : 1.6 M cd$ To achieve 100% increase in sales in 1998: Sales in 1998's Q4 should be 4.6 M cd$ ?????!!!!!!!!!!!!!! * Why XLX is issuing all those shares? * What is the real expected increase in sale in 1998? * Why cost of sales = product sales? * Any comments or corrections? Sameh