Upon re-reading the AGM presentation from November 2010, I feel...

Upon re-reading the AGM presentation from November 2010, I feel like a number of promises have not been met.

http://www.nusep.com/user_files/1301975499_AGM%202010%20Presentation.pdf

Below are some:

With regard PRIME (then known as Singapharm)

1) Cornerstone investor secured - S$3 million invested in
S$12m SingaPharm project

2)Short term clinical trial process – 18 months to first sales

With regard to the 2011 Forecast

1) Revenue $5.8m

2) Gross Margin $4m

3) EBITDA $1.8m

EPIC FAIL all round.

I guess this explains the mass exit of some shareholders and the lack of trust shown by many of us that are left.