history of prime/singapharm

For those who are relatively new to NuSep or those who may be factually challenged, here is a summary of the announcements for what is currently called PrIME, and was formerly called SingaPharm.

At the 2010 AGM, it was announced;

• New Business Investments (SingaPharm)
• Fully underwritten placement (Stonebridge Securities) of 8.9m shares to fund SingaPharm

and

• Enters $US1B blood Asian plasma market with investment in Singapore based SingaPharm
• Cornerstone investor secured - S$3 million invested in S$12m SingaPharm project
• Short term clinical trial process – 18 months to first sales

Sales of S$4.75m were forecast for 2013, with a gross profit of $$3.3m.

The following page (page 12) had;

• DCF of 53¢ a share post placement

Which meant that NuSep should be worth 53c, not the near 1/10th price of 6c that it is today.

At the 2011 AGM, after renaming SingaPharm to PrIME, it was announced;

• Receive Singapore Government Funding & Support
• DCS Healthcare Pte Ltd to be cornerstone financier
• Completion of Financing agreement due in December 2011

Shareholders were told "First sales will be 18 months away". That would put the first sales around May 2013.

Then, in the 2012 AGM we were told that first sales would be 12 months from "Today", being November 2013. One wonders how close the sales actually are.

Are there not "Continuous Disclosure" regulations the requires the company to tell us if things have changed?