I went to the AGM today and I am going to jot down not a in any...

I went to the AGM today and I am going to jot down not a in any order what happened.

The Swiss have reimbursement of Swiss Franks100 per test.
50- 60 million tests CST capture about 1% currently hope to achieve 10 to 15% of market no time frame on this. Achievable goal not unrealistic.
Cost of sales have dropped by 20%.
A lot of marketing is done in advance great future.
High depreciation on implementing the automatic equipment into labs.
Lumpy expenses and income don’t pay attention to any quarters figures.
Last year had 4 large customers now U.S. has 15 customers that buy 10,000 tests per month.
Unable to sell in China at the present at an economic price.
Sales past 4 months very good
Leishmania test about 30,000 in U.S. it is more expensive, more costly and royalties.
CMV transplant test have to be undertaken repeatedly.
Other products coming.
Currently selling to prisons in NY & CA making significant inroads.
Contacts with large labs and chains to get it right.
The only competition is the discredited TST skin test.
Elispot test is complicated technologically and more expensive, and is a great marketing tool for our test.
On track for revenue.
Can’t compare a drug to a test from a marketing point of view.
FDA approval evidence will be proved by U.S. sales. “We are not going to beat up the market we are about INTEGRITY�
Our announcement was aimed at the U.S. market where the big volume customers are.
Japan sales 25million X-rays done as the main test will move to QFT guidelines, 8-10 million tests per annum, sales growth in Japan parallels sales as in the U.S.
“If you think we are going to sell to another company you are delusional�

The above is direct from my notes and you can make of it what you want.

The underlying tone was that they are not going to forecast sales or number of tests and certainly will not promote the company, because they are concerned at what has happened to other Biotech companies ie. some good information released, share price jumps up, one smidgen of a problem share gets belted. They will let the numbers speak for themselves. Like what Ben Graham said “In the short term the share market is a voting machine in the long term it is a weighing machine�

The thing that got me today was that there was no voting for options to any board member, nothing zilch.

. If you believe in this company as I do, nothing today I heard has changed my mind, in fact it has enhanced my belief that this is a truly great company that will take TIME.

Cheers