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Share prices are lowest in last 14 months. Why? OMI and Cardinal...

  1. 152 Posts.
    Share prices are lowest in last 14 months. Why?

    OMI and Cardinal agreement:-

    Cardinal minimum committment in calander year 2008 is
    US$4.3M

    OMI will receive 50% order (US$2.15M) up to 30th june,2008

    OMI received Initial Sale Order 30% (US$1.29M)

    OMI has stated, that manufacturing for the Initial Sale Order will commence immediately to enable delivery early in the New Year.
    (so far no manufacturing or delivery confirmation)

    Cash at the end 2nd qtr. (31-12-2008)----------$926,000

    Expenses in 2nd qtr.(Oct-07 to Dec-07) were--- $895,000


 
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