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Van Ernst Jacobs Securities 103 Parnussweg Amsterdam, Netherlands Skinvisible Inc. OTC-BB: SKVI $ 2 1/2 (10/19/99) Analyst: Franke Scheper Date : 10/19/1999 Corporate Data Historic Price Range: US$ 1 « - US$ 5 19/32 Shares outstanding : 10.209.000 Est. Public Float : 3.000.000 Insider ownership : 28% P/E : n.m Website : www.skinvisible.com Revenues and EPS estimates: Sales EPS 6 months (June 99) : 48.125 A (0.14) A Q3?99 : 120.000 E (0.08) E Q4?99 : 500.000 E (0.03) E FY 99 : 668.125 E (0.25) E FY 2000 : 12.000.000 E 0.50 E FY 2001 : 24.000.000 E 1.00 E Notes: FY ends dec. 30 Sales and EPS in US$ The Company: SKVI manufactures and markets a proprietary family of antiseptic protect-the-skin products. It?s products destroy a broad spectrum of viral and bacterial disease-producing agents. The Technology: SKVI?s products are based on the Jatex technology, of which the company has exclusive worldwide rights, a proprietary emulsification process for hydropholic and hydrophobic polymers. Jatex, combined with antimicrobial agents, produces a safe/effective prophylactic application that forms a protective layer/shield across the skin with proven substantivity (the ability to adhere to skin under normal working conditions!. This while allowing the skin to breathe, maintaining the skin?s natural moisture in addition to absorbing moisture from the air), maintaining it?s effectiviness for up to 4 hours per application. What does SKVI?s products offer: Protection to the skin from most bacteria thus stopping the spread of nosoconial infections, infectious pathogens, and cross-contamination Resistance to absorption by the skin of many industrial chemicals by up to 99%. An enhancement of the health, safety and environment of both employees and all persons. A tremendous costsaving to all kind of employers and increased productivity due to a marked drop in employee absentiesme due to illness. No harmfull side effects: it?s products have been/are extensively tested by FDA approved laboratories. A potential new drug delivery system! Page 2 Which products does SKVI currently offer: 1.Medical Formula: it?s a known fact that over 2 mln hospital patients in the U.S. annually will acquire an infection they didn?t check in with. And up to 80.000 patients will die this year as a result of these infections. This product is marketed to hospitals, nursing homes, doctors, nurses, dentists, hygienists fire departments, police, ambulance and ancillary services. 2.Industrial Formula: with Occupational Hand Disease (OHD) increasing the claims for Worker?s Compensation, and compliance with chemical safety regulations an ever-increasing challenge and cost, SKVI offers a cost-effective solution and an enhancement of the health, safety and environment of employees. This product is marketed at mechanics, painters, autobody workers, chemical handlers, construction trades, gardeners, mill workers and garbage/sanitation workers. 3.Food Service Formula: Foodborne bacteria are the No. 1 risk in our food supply; infected food handlers are th No. 3 cause of foodborne illness; and over 80 mln food-borne incidents occur in the U.S. alone each year. And are most often spread through hand contact. SKVI?s product protects against the transmission of infectious pathogens and disease-causing bacteria associated with food products, handling & processing, while significantly reducing the harmful effects and risk associated with cross-contamination, and the negative effetcs of OHD. 4.Salon Formula: hand contact is the primary method by which germs are transmitted, placing salon workers at high risk for the contraction of infectious disease. Add to this risk the exposure to harsh chemicals, dyes, acids and irritants. This product is marketed to hairdressers, nail technicals, beauticians, massage therapists, and tanning salons. 5.Personal Formula: anyone who uses public facilities, visit public venues, travels, lives, works or comes into contact with others can benefit from SKVI. SKVI can be used by all humans. New products in development: Sun Screen Protector: antimicrobial sunscreen that filters harmful UV radiation; stays on for up to 4 hours and will not wash off even after repeated entries into the water. Skin Care: antimicrobial skin care for the control of facial acne. Foot Cream: anti-fungal cream for general care and protection, as well as prevention and protaction against athletes foot. Liquid Diaper: antimicrobial skin care for protection against diaper rash; ideal for babies and incontinent patients. Other potential future products: - Anti-insect repellant. Possible new revolutionary drug delivery system: SKVI and one of the biggest worldwide pharmaceutical companies are currently evaluating SKVI?s technology for potential use for the controlled delivery of medications through the skin. Current Distribution of SKVI?s products: In July 1999 SKVI signed an exclusive distributorship with the leading network marketer "Essentially Yours Industries Corp " (EYI) to distribute it?s products throughout NA to the personal consumer and small business marketplace through it?s more than 350.000 distributors. In July 1999 SKVI also signed a distribution agreement , under essentially the same terms and conditions as with EYI, with EYI International Ltd for the international marketplace. SKVI itself will continue to market directly, or through other distribution channels, to the corporate,commercial and industrial market place. Page 3 Current clients of SKVI?s products: EYI and EYI International Ltd. Sahara Hotel, Las Vegas. Ft.Lauderdale Police Department (Violent Crimes Unit), Fort Lauderdale, FL. University of Miami Hospital and Clinics (Central Service/Infection Control), Miami, FL. Boston Pizza restaurant chain, Canada. Potential clients with whom SKVI is in discussions at the moment: Dutch Diary Co. Two of the biggest multinational food companies. One of the biggest worldwide humanatirian aid agencies. One of the biggest paint manufacturers of the world. A major gaming company that operates various casino entertainment facilities. One of the leading multinational pharmaceutical companies. Negatives: SKVI just recently started marketing it?s products and thus has not been able yet to show it?s real potential. We believe that with SKVI will prove itself with outstanding Revenues and EPS results as early as the Dec.?99 qtr and going forward. SKVI is traded on the OTC-BB market and thus cannot be bought and/or promoted by most brokerage firms/banks and/or institutions. We believe that as early as the beginning of 2000 SKVI will prove itself with it?s Dec?99 and March?2000 Quarterly results and thus place itself on the radar screen of the investment community which will lead to an appreciation of the stock price, increasing liquidity in the stock and eventually coverage by brokerage firms/banks and/or financial institutions. Comments: we believe that SKVI will show accelerating high growth in it?s Revenues and EPS results starting in Q4?1999 and going forward. The co offers a simple, easy-to-use, user-friendly, and effective solution to protect us against all kinds of diseases transmitted by hand contact. Although most people don?t even know this and/or don?t pay attention to it we believe that the tremendous cost benefits (for all kinds of companies due to less employee absenteisme leading to lower healthcare costs and more productivity, and a better image with both their employees, their customers and the general public; less chance for people to get sick thus less medical/healthcare costs and a better quality of life;) that SKVI?s products offer will lead to more and more companies and starting to use SKVI?s products. And we also believe that the awareness about the transmission of diseases through hand contact will increase with both public and private companies, government institutions and the general public as more and more guidelines will be issued by healthcare- and government - organizations worldwide. Especially in light of the fact that the mobility of persons worldwide increases day by day thus also increasing the transmission of diseases. An additional major positive to SKVI?s potential is the use of it?s technology for the delivery of medicines but it is still too early to know if this can and will be achieved and when. Recommendation: we are firmly convinced that SKVI will become one of the leading suppliers of skin proctection products to all kinds of industries and the general public worldwide. We thus issue a Strong BUY on SKVI with a stock price target of $ 10 by late 2000 and $ 15-20 by mid 2001. | ||||||||||||
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