more from melbourne and an interesting call

One thing that has puzzled me is why the SPP was launched now rather than waiting until the "significant Asian Life Science Fund" has completed its due diligence and committed and an announcement has been made? If others are correct and this causes the share price to rise sharply wouldn't that make it easier to raise funds via SPP? In Melbourne we were told the finance deal for PrIME won't be completed before the SPP closes.
I shared this query with the broker who rang me from the other side of the country on behalf of the company last evening. His response was interesting "I hear you"
He has apparently been ringing selected shareholders from around the country as follow up from what he described as a roadshow for investors. The purpose was to check I had received the SPP paperwork and he advised that although he wasn't ringing all of the 900+ shareholders, about half of those he had rung were saying they would participate.
BTW has anyone else had such an unsolicited call?
Like Leveller I will be participating in the SPP and had no problem telling the broker from Phillip Capital in WA so.
We had a good chat and he told me he didn't think his firm had any connection with the firm that had prepared the commissioned research report. I asked if his firm was doing research on NuSep Holdings and he said he thought they may be and took my email address and promised to send any information he could in due course. He seemed on the ball and has followed up with an email outlining his credentials.
I'm sure readers would be disappointed in me if I hadn't had a look at the Phillip Capital website. At the bottom in small font is a link to funds management which links to a page for "Bioscience Managers Pty Ltd (formerly IB Managers) is a leading life sciences investment firm, headquartered in the PhillipCapital offices in Melbourne."
In turn there is a link here:
http://www.biosciencemanagers.com/investment-vehicles/asia-pacific-healthcare-fund-ii/
I wonder if anyone else who heard the presentation in meetings at Melbourne or Sydney finds this interesting.
So back to the question I posed about timing...any theories?
Here's mine: If you look at page 57 of 2012 Annual Report and do the math you will see that the top 20 shareholders hold 60.92% of the issued share capital. If there is a shortfall in the SPP there may well be an opportunity for these folk (excluding Thee Woon Goh)to take up additional stock at this current very low price and thus avoid dilution of their relative position which would otherwise occur because of the limit of $15000 in SPP per shareholder. Remember we were told at the presentation that the two years time line in the newsletter runs from when we settle the PrIME funding....really just thinking out loud, I'd be glad of other posters thoughts on this.
Regarding other things I have remembered from the meeting in Melbourne that others might find interesting:
1) it is estimated that the Singapore plant will employ about 33 scientists and technicians once it gets going;
2)there are 15 year patents on the membranes but additional development and lots of know how that has been developed in house also protects our IP as it was acknowledged that no patent is "unbreakable" (I think I know what that means);
3)We are already working with Singapore General Hospital and have already sourced 10 of the 40 patients required for the 12 month trial;
4) Registration follows exactly 270 days from the close of data, not a day sooner or later;
5) within the existing footprint in Singapore we could go up to 2 million litres of plasma per annum [I take it the point of this statement was to make it clear that we are not going to outgrow the Singapore facility anytime soon]
6) whilst the grandfathering exceptions to regulatory requirements effectively kept us and our predecessors from being a desirable target for large fractionators like CSL, Baxter, Beyer etc the game has changed in the developing world where the flexibility of our disposable small batch technology will make us highly desirable to any large player wanting to enter those developing markets; and
7) expect an announcement in the not too distant future of the further development of SpermSep.
I think what I keep coming back to is my assessment of the people I have now heard and met. I have been conned in the past but I can't remember the last time. I think I am generally a good judge of character and I accept that the driver for Dr Nair is to get the much needed products our technology can produce employed in the business of saving lives in the developing world. If everyone focuses on this as the main objective I think the returns will flow eventually and hopefully we can say we were early adopters and advocates for the development of this boon to humankind.
Good luck to all. As well as DYOR how about talking to others about the whole NuSep story warts and all, who knows they may decide it is a good speculative bet as well.
Kind regards,