At the last company meeting (17 August) Hari said that NSP...

At the last company meeting (17 August) Hari said that NSP revenue included from BioInquire was for only one month (June) and not for the anticipated five months. Because this new acquisition was such a ?great find? it will be interesting to see what it generated in the four months July-Oct. At the AGM tomorrow, management will need to talk fast to satisfy shareholder expectations. Morley?s comments are very relevant here.

The setting up of a new blood plasma fractionating business in Singapore is at first alarming considering that the previous Life Therapeutics business in US was a total wipe out. The same two directors are involved. Have they learnt anything new? How will this enterprise differ? Was this another fortuitous find like BioInquire? Previous LFE holders will still be very sore at the thought. The fundraising in May was a success largely because of the prospective revenues from BioInquire and the two bio separations instruments which are still not market ready.

It is clear now why the share price was manipulated from about 22c in Sept to 31c two weeks ago. Initially I had thought it was done merely for good appearances at the AGM. With almost no turnover it took very little cash to raise the SP. The VWAP over a 30 day period will now be significantly greater and in the fundraising a discount to, say 25c, will look much better than back to 20c. (It is not stated as to the nature of the raising.)

The ?market? for NSP is largely its own old shareholder list as few others will have heard of it. I was hoping the futuristic SpermSep instrument would put it on the map but the ?final? trial is due to commence only about now.

There is a problem in having many start-up projects on the go and very few generating revenue. The AGM will be interesting.

Juke