Shares in Terry Cuthbertson's OMI Holdings seems set to be...

Shares in Terry Cuthbertson's OMI Holdings seems set to be re-listed after an announcement about the outcome of JV negotiations with Purus Health & Medical Technologies.

Purus is a division if William Green, one of Australia's main suppliers/manufacturers to the medical and dental industries.

Under the terms of an MOU announced four months ago, OMI and Purus intend to to commercialize OMI's SharpeSafe syringe featuring a color-coded piston.

The syringe system will be aimed at the hospital/medical, veterinary and beauty sectors.

The OMI quarterly report filed on January 30 reveals a December cash balance of $159,000.

I doubt this could fund the size of the JV being contemplated.

OMI shareholders would be hoping that chairman and former KPMG partner, Terry Cuthbertson, can soon emulate the success he's enjoying as chairman of two other listed companies:

. Mint Wireless (MNW), MC $133.3m and

. My Net Fone (MNF), MC $127.4m.