To: Mr. Jens Tingleff who wrote (7428 ) 11/19/1998 9:00:00 PM From: David Sirk Respond to of 9569
Just so we get the whole story here. This company would only be able to last for 3 months if it had to rely on what it earned in the last 3 quarters. But of course Rosey forgot to mention this very important part of the Report. The services of the Company's consultants, together with that of the Company's management, while not having generated any revenues during the third quarter ended September 30, 1998, have enabled the Company to develop and expand its business during the last quarter of the fiscal year. As a result the Company can report the following business developments: (i) generated sales revenues of approximately $220,000 from the import from Brazil and sale in the US of commodity products, which represent the single highest sale transaction in the Company's operating history, and which sale will generate a profit to the Company. The revenues and profits from this sale will be reported during the last quarter of fiscal 1998, with a letter of credit being issued effective November 9, 1998 for 20% ($44,000) of the total $220,000 sale, with the remainder being paid during November, 1998 upon shipment; (ii) secured third party manufacturers from whom the Company can continue to source generic pharmaceuticals at competitive pricing so as to enable it to sell such products at satisfactory profit margins during fiscal 1999, in the highly competitive and price sensitive developing world markets; (iii) secured final approvals of dengue fever test kits, which are prerequisite for the imminent receipt of purchase orders for dengue fever test kits from the National Health Foundation of Brazil; (iv) entered into a distribution agreement with the manufacturer of a Hepatitis B vaccine, approved by the World Health Organization, granting the Company the right to market at highly competitive pricing the Hepatitis B vaccine in South America, Africa and Asia; and (v) commenced business relationship with manufacturers of complete lines of generic pharmaceuticals for the purpose of satisfying the Company's anticipated purchase orders in West Africa and South America. Don't be to surprised when this stock jumps right back up!