SBN Sunbiomed (was HGR Harrington Group)

[STRAT]

Total Issue:
368,359,431
Market Capitalisation:
$13,260,940 (@3.6)
Earnings/Share:
-8.26 cents
Price/Earnings Ratio:
-0.44
NTA/Share:
1 cents
Dividend/Share:
AUD 0 cents
Dividend Yield:
0%
1-Week Range (Low - High):
1.4 - 2.9
4-Week Range:
1.2 - 2.9
26-Week Range:
1.1 - 4
52-Week Range:
1.1 - 7.5


This little Aussie company is attempting to gain 510(k) Approval with the FDA in the US for its saliva based drug test. Usable in work place drug testing it would be the only saliva drug test with 510k approval in the US at this time. This is a billion dollar industry and other tests currently used are urine based and way less user friendly. Potential is huge but I dont know what US drug companies would do in terms of slowing their progress or piping them at the post. Any thoughts guys ?

[STRAT]

Up 38% today on fairly high turnover

[hero]

Hi Strat,

I took a very large position in Harrington last month. Great potential in my view. I saw a double competitive advantage in their flagship product (oraline4) having much better measurement sensitivity than competitors plus the possibility of obtaining the first and only FDA approval for oral testing devices (providing at least a short term monopoly). Looking further, I was impressed by the strength of the top 20 register (esp with Mike Fitzpatrick with 15% of the company) and the quality of new management. This company has had a poor recent history but has reinvented and refinanced itself around the sun-biomedical products (including oraline). Expecting break-even by the end of 2007 and blue sky if they get the FDA approval and can get up other products (esp road side testing which they recently entered a partnership with biosensia for further research).

Seemed a no-brainer at a $5m market cap (as it was then). Probably still is at $13m.

[hero]

Huge day for Harrington today with 'left field' FDA approval for export of oraline 4 to Mexico for manadatory illicit drug testing in the school system. Suggests that FDA approval for US workplace testing is a 'done deal'. Massive potential. Up 40% today on the news.

[STRAT]

Huge day for Harrington today with 'left field' FDA approval for export of oraline 4 to Mexico for manadatory illicit drug testing in the school system. Suggests that FDA approval for US workplace testing is a 'done deal'. Massive potential. Up 40% today on the news. Dang it, I should have posted this on the X club thread. Up another 44% today in an otherwize mostly sea of red

[Wysiwyg]

Hi Strat,

I took a very large position in Harrington last month. Great potential in my view. I saw a double competitive advantage in their flagship product (oraline4) having much better measurement sensitivity than competitors plus the possibility of obtaining the first and only FDA approval for oral testing devices (providing at least a short term monopoly). Looking further, I was impressed by the strength of the top 20 register (esp with Mike Fitzpatrick with 15% of the company) and the quality of new management. This company has had a poor recent history but has reinvented and refinanced itself around the sun-biomedical products (including oraline). Expecting break-even by the end of 2007 and blue sky if they get the FDA approval and can get up other products (esp road side testing which they recently entered a partnership with biosensia for further research).

Seemed a no-brainer at a $5m market cap (as it was then). Probably still is at $13m.

Another positive (no pun intended) is the time companies can save for drug screening.Lets face it ,one can`t always pee when one wants though spitting is a common occurence. lol.

Big vol. today will gain further acceptance in the share community or be knocked back down so the late comers can get in i.m.o. Can`t wait to see tomorrow.

[STRAT]

Wow another 56% up at days end. 409million shares traded and there are only 368million issued. I would be REAL interested to know if there were any major changes to the top 20 shareholders. Anyone here able to access this info?

[STRAT]

Oraline Drug Test Certified for Export to Mexico (https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=1693593) With Certification aquired for Oraline to be distributed in Mexico the share price has increased 3 fold. What will FDA approval do? :eek:

[STRAT]

Oraline Drug Test Certified for Export to Mexico (https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=1693593) With Certification aquired for Oraline to be distributed in Mexico the share price has increased 3 fold. What will FDA(510k) approval do?

[esprit]

Wow HGR is really running at the moment. Up 20% yesterday and another 10% today on huge volume :)

[esprit]

Any comments guys? FDA certification surely can't be too far off with the Mexican approval?

SP up ~%45 in the past 4 days :)

[STRAT]

Any comments guys? FDA certification surely can't be too far off with the Mexican approval?

SP up ~%45 in the past 4 days :)Application was made around the 1st August. It could take up to 90 days which means end of October or sooner yes/maybe. Government Dept, dont forget :D Nearly a single bagger since the start of the thread :D:D:D

[STRAT]

Nearly a single bagger since the start of the thread :D:D:DSpoke too soon, looks like the daytraders are leaving the building today. Wonder how far down it will go? 5c here we come

[STRAT]

I got out today fellas. Looking for a re-entry now

[shasta]

I got out today fellas. Looking for a re-entry now

Must be better stocks wanting those funds? :D

[STRAT]

Must be better stocks wanting those funds? :DGot any suggestions Shasta?:D If you want a good giggle check out the one liner BS brigade on HC :eek: Actually I recon this is a goodin and will be looking to get back in

[shasta]

Got any suggestions Shasta?:D If you want a good giggle check out the one liner BS brigade on HC :eek: Actually I recon this is a goodin and will be looking to get back in

I'll leave the Bio Techs to you Strat, i don't know the first thing about them!

Shasta specializes in "undervalued" companies, with cash & low enterprise values, with advanced projects/producing.

If theres a bio that meets that criteria, i'd love to know too!

[STRAT]

I'll leave the Bio Techs to you Strat, i don't know the first thing about them!

Shasta specializes in "undervalued" companies, with cash & low enterprise values, with advanced projects/producing.

If theres a bio that meets that criteria, i'd love to know too!Not sure if Bio techs are my thing but there is nothing wrong with maken a few bucks out of hype :D You know I respect your skills and opinion but a little TA goes a long way too. Undervalued stocks could be more abundant if the FED's next move next week goes the wrong way :eek:

[esprit]

Why bail now? The FDA approval would see huge upside...

[STRAT]

Why bail now? The FDA approval would see huge upside...Hi esprite, Because of the expected re trace as the traders run for the hills. I will get back in when the dust settles yes/maybe if my timing is good. Are you watching the price movements today?

[STRAT]

Application was made around the 1st August. It could take up to 90 days which means end of October or sooner yes/maybe. Government Dept, dont forget :D Nearly a single bagger since the start of the thread :D:D:DCorrection, It is my understanding now that the application for 510k is yet to be filed.

[hero]

I'm expecting an announcement any moment that the filing for Oraline iv has been completed - perhaps today, probably this week. It has been the company's focus the last 4 months. Likely to get the share price to 10c, with possibility of 15-20c when FDA clearance is granted.

With respect to the strategic importance of 510k clearance, interesting find by Murad and quoted on the HC site:


“SAN DIEGO--(BUSINESS WIRE)--TestCountry, a leading distributor of medical and diagnostics test kits, announced today that it has been named to the #239 spot on the 2007 Inc. 500 list of the fastest-growing privately held businesses in the U.S. The company logged a three-year revenue growth of 972.7% by selling a wide array of collection kits for fertility and pregnancy, DNA and paternity, substance abuse, early disease detection and other purposes for both home and corporate users.
"Our growth is being driven by the escalating demand for fast, convenient and confidential home and corporate testing solutions, whether to help parents discreetly test a child for drug use, help couples predict ovulation, or reunite families through DNA testing that can establish genetic ties," said Serhat Pala, President & CEO of TestCountry. "Being named to the Inc. 500 is a major achievement that is a credit to our quality products, our approach to the market, and the strength of our partner network."

The 2007 Inc. 500 list, published by Inc. magazine, measures revenue growth from 2003 through 2006. To qualify, companies had to be U.S.-based, privately held, and independent (not subsidiaries or divisions of other companies) as of December 31, 2006, with at least $200,000 in revenue in 2003 and $2 million in 2006.

"If you want to find out which companies are going to change the world, look at the Inc. 500," said Inc. Editor Jane Berentson. "These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."



After seeing this, I checked TestCountry's web site and found that they don't seem to sell Oraline iv. The reason appears to be that they only sell FDA-approved products - as per the following extract from their site:

“What Makes TestCountry Drug Testing Kits So Reliable?

Our drug testing kits are 510K FDA Approved and we work with only the best manufacturers in the country that uphold the U.S. standards for home drug testing. We are proud members of the Drug and Alcohol Testing Industry Association (DATIA), Community Anti-Drug Coalitions of America (CADCA) and the Better Business Bureau of San Diego”

This, I think, confirms just how important the FDA clearance is for the marketing and distribution of Oraline. Opportunity here to develop a distribution agreement with one of the USA's fastest growing companies - and one involved in all the markets of interest to HGR - and internationally too. Here is some more info from the website:

OUR COMPANY

ABOUT US

TestCountry was founded in 2001 to develop direct-to-patient technology-based solutions to address one of the most pressing issues in healthcare today; the inability of consumers and to obtain fast, convenient and confidential information about their health via instant or convenient lab based testing solutions.
Whether you are a parent seeking to discreetly test your child for substance abuse, an employer wishing to perform drug screening on your employees, or a non profit organization, TestCountry can provide the right drug test for you at the right price, giving you the same reliability as lab tests.
TestCountry also provides a wide range of services to assist in the development, and continuous improvement of corporate drug testing programs - ranging from instant drug and alcohol tests, to helping to implement a complete corporate drug testing program. We serve a wide range of clients nationally and internationally including the construction, manufacturing, retail, transportation, education, securities, high tech, medical and general services industries.

COMMUNITY INVOLVEMENT

TestCountry is a proud member and sponsor of the following organizations.
• TestCountry is certified by the Better Business Bureau

• We are a proud member of:
- Drug and Industry Association
- National Defense Industry Association.
- Community Anti-Drug Coalitions of America

• TestCountry is a proud sponsor of the Orange County Department of Education - Alcohol, Tobacco, Drug and Violence Prevention Poster Contest

Corporate Giving: Building Stronger Communities
As a firm, we take pride in being a good corporate citizen in the communities where we live and work. TestCountry's corporate philanthropy operates under a decentralized model that emphasizes giving back to the communities where we do business and encouraging our employees to do the same.

We support many deserving non-profit organizations and institutions. Most of our support is in terms of donating test kits that serves the organization's need in preventing drug abuse

TestCountry is currently supporting the following organizations:

- Alpha Project for the Homeless
- McAlister Institute
- Sacramento Recovery House, Inc.
- San Diego Youth and Community Services
- Teen Challenge International
- Volunteers of America/ Alcohol & Drug Services

WHY SHOP AT TESTCOUNTRY?

There are many reasons:

FDA Approved Tests
- Our test kits are FDA cleared

Fast and Accurate
- Our Test Kits are 99.9% accurate (Laboratory Accurate)
- Our drug of abuse test kits can detect up to 10 different drugs
- Results available in minutes (for our instant test kits)

Dedicated Customer Service
- At TestCountry our customers and their satisfaction is our highest priority. That's
- why we sell the highest quality test kits, with a very secure ordering system and
- fast shipping process.
- We are always there to answer and product related (and sometimes personal)
- questions.
- An order is shipped within the same day. Our phone lines are open all the time.
- We provide online customer service 24 hours.

Affordable
- Our test kits are the most affordable test in the market.

Convenient
- You can administer your tests in the privacy of your home or office.

Wholesale Pricing
- We provide wholesale pricing rates for our corporate customers>

Secure Ordering
- Our website has a very secure ordering process. We are secured by Verisign and
- all customer information is kept confidential.

Fast Shipping
- We have different shipping methods to meet all our customer needs (FedEx
- overnight, UPS ground and others).

[STRAT]

Hi fellas, back down to 5.2 today and if it doesnt hold i see 4.? on the horizon. Time to get back in soon I think

[STRAT]

Hi Hero, I dont think they will file for 510k until they have product being sold in Mexico

[hero]

Hi Hero, I dont think they will file for 510k until they have product being sold in Mexico

Yes, that's right Strat - I picked up that detail too. They only need the precedent of one shipment and then they can file the 510K docos with the FDA and continue shipments irrespective of FDA assessment timing. I still think the FDA assessment will be expedited fairly quickly but Brian Andrews (the MD) is just being prudent to ensure maximisation of cash flows.

The first Mexican shipment could occur any day - even this week - and the FDA filing will then be done immediately. Would expect an announcement soon after that. That could also incude details of the emerging opportunity in East Europe (volume sales to a Polish based company which has indicated that it will undertake the necessary regulatory approvals - freeing HGR to focus on the USA).

Exciting times for HGR. In my view an under 10c SP will soon be a distant memory. Would not want to be out of this with positive announcements so close. Are you back in yet? Low 5's is a good re-entry I would think. Could drift down a bit more with no announcements for a few days...but risky betting on this. Last major announcement - Mexico exportability certification - it gapped up from 3c to 5c+.

[STRAT]

Are you back in yet?Not yet, hoping to get in under 5c:p

[STRAT]

Not yet, hoping to get in under 5c:pWell, down to 4.7 today. Not back in yet but soon I think. Are you guys still feeling comfortable holding through the retrace?

[hero]

Well, down to 4.7 today. Not back in yet but soon I think. Are you guys still feeling comfortable holding through the retrace?

Hi Strat,

Your patience is paying off - so long as you get back in at this or lower levels.

Retraces are never fun unless you are looking to buy - but this is to be expected with a spec that's had a strong run and with no news. I'm not concerned as I got most of mine under 1.5c and I'm in for the mid to long term. My SP target is around 50c (not based on any particular number crunching, but on the potential and quality of products, management skills and size of and growth of target markets).

It seems that an announcement on the Oraline 510k clearance filing (and perhaps Mexican export details) is very close. I would not want to get caught out by the pre-open.

Good luck with your re-entry.

[hero]

Should be an interesting couple of weeks for Harrington - with an announcement of filing for FDA clearance for flagship Oraline device and perhaps other news (Mexico schools testing project?) followed by an investor presentation middle of next week.

[STRAT]

Should be an interesting couple of weeks for Harrington - with an announcement of filing for FDA clearance for flagship Oraline device and perhaps other news (Mexico schools testing project?) followed by an investor presentation middle of next week.Hi Hero, critical rather than interesting Im thinking. There has been a lot of unloading this week and if she drops below 4.2 then 3.? is possible. That ann is needed big time. Im still not back in and if the ann comes this week I will probably miss the boat. If its next week or later I might be able to get back in below 4c:eek:

[hero]

Hi Strat,

I don't think there's any chance of getting in under 4c. Won't be many opportunities under 5c from here. I'm expecting one or two significant announcements before investor presentations/road show beginning next wednesday pm in Melbourne. Should spike sharply with those.

[hero]

I think there's a good chance of an announcement on the FDA filing for Oraline tomorrow - and that would be more than enough to counter the effect of the dow fall. Could be one of the few 'greens' on the market.

[STRAT]

I think there's a good chance of an announcement on the FDA filing for Oraline tomorrow - and that would be more than enough to counter the effect of the dow fall. Could be one of the few 'greens' on the market.Hi Hero, What makes you think tomorrow is the day?

[hero]

Hi Hero, What makes you think tomorrow is the day?

Strat, just a strong hunch - based on keeping my ear close to the ground and the company's need to have some good news out there prior to the investor presentation on Wednesday afternoon.

[hero]

...oops....didn't allow for the US 'lag'. Announcement monday (possibly tuesday) US time - so tuesday (possibly wednesday EST)

[p0ssy]

You sure about that Hero?

Bought more HGR today - this co feels like a speccie but should perform well over the next few months. At least it has something to sell vs all those small resource co's that I seem to fall for.

[hero]

Hi Hero, critical rather than interesting Im thinking. There has been a lot of unloading this week and if she drops below 4.2 then 3.? is possible. That ann is needed big time. Im still not back in and if the ann comes this week I will probably miss the boat. If its next week or later I might be able to get back in below 4c:eek:

Sure as I can be. Great timing on your top up p0ssy. Think its primed for a solid move up on FDA filing - and even more when FDA approval comes through, hopefully before X'mas. Any significant contract announcements in the interim will be a bonus.

[STRAT]

I see a few problems here. They want to get sales under their belt in Mexico before they apply for FDA approval but if those sales cannot be nailed down they will have to file without them and they are running out of money. Anyone know what their cash reserves and burn rate are?

[STRAT]

Well the news is out . They have filed for FDA approval. No ann regarding exports to Mexico yet and does that mean their export licence is now void? Perhaps they have shipped some product off to Mexico and just forgot to report it. Anyway, Jumped back on board this morning with fingers crossed :rolleyes::eek:

[p0ssy]

I got some more today at 4.7c- fingers also crossed - I now have 700k, so toes crossed as well!

Could be some weakness in the next few days as announcement may not have been up to daytraders expectations but long term success of this co seems assured.

[esprit]

Shareprice down 2% on announcement... ?

[hero]

Shareprice down 2% on announcement... ?

Spiked 15% up and then fell away. Probably a lot of traders selling into the news. Also filing for FDA clearance factored into SP and disappointment of no substantial news on expected Mexican Government contracts. Presentation and updates were more about company building (board and management team building) and market positioning (filing for FDA clearance of flagship device). Was all good, and can expect steady rise leading to FDA clearance of Oraline (big news!) in 30-85 days which is not expected to be problematic. Any news re current contract 'advanced' negotiations with Mexican, Chinese and Russian Governments should be strongly positive.

[Serpie]

Up 24% today Strat. Maybe a bit premature, but we'll take it. Should be on a few more radars now.

[STRAT]

1 week Chart looks good too. Next leg up maybe?

[hero]

Next leg up maybe?

Most definitely! With the FDA clearance process now well under way, the illicit drug testing market 'booming' and multiple deals (US, Mexico, China, Russia) at 'advanced stages' of negotiation, there's only one way to go. The MD is in the US working on the deals until the AGM on 30th Nov. Expect some solid news leading up to the AGM.

[STRAT]

Expect some solid news leading up to the AGM.Can I hold you to that Hero? :D:D:D

[hero]

Can I hold you to that Hero? :D:D:D

Absolutely Strat. Not a problem

[hero]

Big week for Harrington!

AGM on Friday and MD due to return (on Wednesday) from a 4 week tour of duty in new Jersey. Expect news on one or more significant deals that were at an 'advanced stage' of negotiation in late October and which the MD and new US-based COO have been working on 24/7 for the past 4 weeks.

Next couple of days are likely to be the last chance to get on board under 5c.

[Serpie]

I hope so Hero,

This is the bolter in my stable, and I'm expecting big things from it.

How close do you reckon we are to FDA approval?

[hero]

I hope so Hero,

This is the bolter in my stable, and I'm expecting big things from it.

How close do you reckon we are to FDA approval?

Can never be sure about regulatory approvals. But FDA clearance should come through in January if everything is in order or a bit longer if new info or studies are required.

Doesn't worry me how long it takes as long as they get it. Competitors will have to go through the same hoops, so if its difficult that will benefit HGR down the track (ie longer period of 'monopoly' while competitors are waiting for clearance).

I think there are 2 near-term company-making opportunities for HGR. One is US workplace testing post FDA clearance and the other is China. I'm hoping for news on US deals (pending FDA clearance) and China this week - at the AGM or before.

China could be responsible for the initial 'bolt'. We'll soon see.

[Serpie]

I've just been quietly chipping away at these this week. There's a capper who's not being very subtle about keeping 2M shares a few cents away from the action. They've been there all week.

AGM is on Friday, when they're expecting to change the name to "Sun Biomedical" to better reflect the nature of the business.

Once the name change goes through there's a suggestion that there could be a few tasty announcements to help awareness of the new brand.

[hero]

I've just been quietly chipping away at these this week. There's a capper who's not being very subtle about keeping 2M shares a few cents away from the action. They've been there all week.

AGM is on Friday, when they're expecting to change the name to "Sun Biomedical" to better reflect the nature of the business.

Once the name change goes through there's a suggestion that there could be a few tasty announcements to help awareness of the new brand.

Still think there's a chance of at least one announcement before the AGM. If not, very soon after. Combination of a much 'sexier' name and very solid contractual announcements should place a rocket under this. Been a wait, but very close now.

I'm totally loaded so hoping for the best.

[hero]

Looks like she's about to pop. Good news coming

[primo]

Breakout on the chart puts it at a tech buy but we need lots more volume, hopefully an arvo run in lead with the pending news.

[David Hardman]

Breakout on the chart puts it at a tech buy but we need lots more volume, hopefully an arvo run in lead with the pending news.

9m through so far today.

Avg daily volume over the last month - 4m, last week - 2.5m

Reckon the volume is there to indicate something is up.

HotCopper muppets seem to be playing around with the stock.

[Serpie]

Up 23% on volume of 15M.

And closed on the day's high. Technically it looks pretty good. Need some fundamentals to justify it now, otherwise the profit takers will kick in pretty quick.

[esprit]

How deep are some of you guys in this company? 40k+ ?

[Serpie]

Let's see if all of the hype is justified.

Best case scenario - a trading halt first thing this morning before a raft of stellar announcements at the AGM.

Good luck all.

[hero]

Let's see if all of the hype is justified.

Best case scenario - a trading halt first thing this morning before a raft of stellar announcements at the AGM.

Good luck all.

Hi Serpie,

Really don't think there's much hype surrounding this company. Just increasing recognition of a genuine turnaround situation. A company with products in the right place at the right time.

Not sure what will happen today. Many deals have been nearing completion, but whether they have got them over the line for today's meeting, I don't know. We'll soon find out. your best case scenario would be nice, but If the ink is not yet dry, and we have to wait until next week, its not really a problem (except for the impatient perhaps).

The deals will be good so whether its today or next week, its no matter to me. I'm in for the long haul.

[Serpie]

Can't argue with that Hero.

I believe that there was a desire by management to get agreements in place in time for the AGM, but that the timing could be a little bit tight.

It will be a frustrating AGM for all if the deals are this close, but can not yet be announced. As you say though, regardless of today's events, it will be an interesting run up to Christmas, with any number of possibilities for advancement.

A consolidation at these levels would be ok too.

[STRAT]

The Chinese deal is in :D

http://www.asx.com.au/asxpdf/20071212/pdf/316fmhty78xbxs.pdf

[Serpie]

FDA approval before Christmas and we're all set for 2008.

[Coruba]

This site gives the impression that FDA approval is a done deal. It also gives a look at what the product looks like and a idea re pricing.

http://www.rapiddetect.com/oraline_iv.html

[Serpie]

Good work Coruba.

I've copied the link to HC (with due credit to yourself of course).

Here's another one found by "Ed27620".

http://www.drugsofabusetesting.com

[Coruba]

That one Serpie pretty much says it has approval. Is there a delay between when the annoucement comes to the distributors instead to the owners in this case our company in question?

[esprit]

Hi all,

I am considering taking another large position in HGR after selling out a few months ago.

Here in QLD, roadside drug testing was introduced on the 1st of December. Anyone know if HGR are supplying the QLD government with said testing kits? If they aren't, I'd be interested to see if they are targeting them as a potential client.

I'm thinking of giving the M.D. a call on Monday to discuss this issue.

[Serpie]

Coruba,

When FDA approval is granted then we'll be the first to know. Looks like some creative marketing is being used by the distributors.

Esprit,
HGR are not supplying the Qld police with testing kits. Apparently the Qld police trialled the HGR Oraline product, but it was too hard to read at night. HGR have indicated that they will develop a casette to overcome this problem, but that this is not their focus at present.
The HGR faithful believe that the unit being used by the Qld police (supplied by a competitor), while easier to read at night, offers only a fraction of the accuracy of the Oraline device.

[STRAT]

Trading Halt:eek: :D:D:D:D:D:D:D

[Serpie]

2 weeks early for the picking comp!

FDA approval and cap raising is my guess.

[STRAT]

2 weeks early for the picking comp!

FDA approval and cap raising is my guess.HGR was on my list too. Might take it off if it gets too expensive by the end of the month :D Might be the same for Macdunk and AGM too ;)

[duncan macgregor]

HGR was on my list too. Might take it off if it gets too expensive by the end of the month :D Might be the same for Macdunk and AGM too ;) It is the same for MACDUNK STRAT. AGM been offered a dollar i might have to sell out and change my 2008 selection if it goes to high for the start. At least STRAT i selected AGM in our sharechat competition between SHREWDY and yourself. Get in behind. Macdunk

[STRAT]

It is the same for MACDUNK STRAT. AGM been offered a dollar i might have to sell out and change my 2008 selection if it goes to high for the start. At least STRAT i selected AGM in our sharechat competition between SHREWDY and yourself. Get in behind. MacdunkAGM Trading at over a dollar as we speak. Good on ya Duncan ;)

[STRAT]

Get in behind. MacdunkA year is a long time. Dont go counting your Chickens/fish ( ie those under sized whipper Snapper ) just yet:p

[Serpie]

Looks like a "preliminary" announcement. Confirmation of name change and code change (Sun Biomedical - SBN).
The scene is set for some meaningful announcements under the new name tomorrow or Wednesday morning.
Great day to be in a trading halt. Hopefully Wednesday will be a good recovery day to recommence.

[hero]

The scene is set for some meaningful announcements under the new name tomorrow or Wednesday morning.


Spot on serpie! All the chickens coming home to roost for SBN now. We're now set for a raft of positive news under the new banner. My bet is on Mexico on wednesday, closely followed by russia and perhaps new urine-based products in the US. Then FDA clearance for OraLine early next year (by end of Feb/early March) followed by ramping up of the China 'monopoly' alliance.

Shame about the tipping comp - but will still be on my list. Depending on the announcements may still be in the 10-15c range by 2nd Jan with potential 2008 growth to 50c plus.

[STRAT]

Glad to see HGR didnt announce early and come out into todays bloodbath. Hope tomorrow is a sunny day for their big reveal:D;)

[Serpie]

It's been built up on HC over the last few days. I hope that it's not disappointing!

I'm going for Mexico deal now. FDA will be next year. Still think they may want more cash though. Time will tell.

[STRAT]

It's been built up on HC over the last few days. I hope that it's not disappointing!

I'm going for Mexico deal now. FDA will be next year. Still think they may want more cash though. Time will tell.I wouldnt pay that thread too much mind mate. I recon its


in this order
1 510k approval and or deal in USA or
2 Significant advancements with Chinese partner or
3 Deal in Mexico or
4 Deal in Russia or

If its Mexico as you say it must be a doosey to warrant a trading halt I would think


5 or a cap raising :(

[Serpie]

They're talking about us, HGR and the 2008 picking comp over on HC Strat.
I've told them that I know of one other who will be picking HGR - don't let me down cobber!

Now I'm really confused about this announcement. If it's a cap raising I can see a hell of a backlash.

[STRAT]

They're talking about us, HGR and the 2008 picking comp over on HC Strat.
I've told them that I know of one other who will be picking HGR - don't let me down cobber!

Now I'm really confused about this announcement. If it's a cap raising I can see a hell of a backlash.As long as it stays under 10c till the end of the month count me in :D If the ann is a lemon I will absolutely be picking HGR for the comp ;)

[STRAT]

I wouldnt pay that thread too much mind mate. I recon its


in this order
1 510k approval and or deal in USA or
2 Significant advancements with Chinese partner or
3 Deal in Mexico or
4 Deal in Russia or

If its Mexico as you say it must be a doosey to warrant a trading halt I would think


5 or a cap raising :(
Heres a thought:eek:
6 The name change was the only reason for the trading halt and there is no big ann:(

[Serpie]

I've thought about that one too.
Our mates on HC (I know I know) reckon they've investigated a precedent for that possibility, including contacting the ASX, and have discounted it, but I'm worried about that too.
What if it just starts trading again, with no mega announcement. Mutiny!

Hats off to the HGR crown on HC though. No one else could keep their stock code consistantly in the Top 10 during a 2 day trading halt when NOTHING is happening.

Only 2 hours of speculation left.

[Serpie]

ASB are showing an announcement icon next to SBN. The plot thickens. Or should I say "the fog thickens"?

[STRAT]

I've thought about that one too.
Our mates on HC (I know I know) reckon they've investigated a precedent for that possibility, including contacting the ASX, and have discounted it, but I'm worried about that too.
What if it just starts trading again, with no mega announcement. Mutiny!

Hats off to the HGR crown on HC though. No one else could keep their stock code consistantly in the Top 10 during a 2 day trading halt when NOTHING is happening.

Only 2 hours of speculation left.Hi Serpie, Dont get me wrong, there are some sharp cookies on HC. Anyway Im on site today and will miss the fun. Looking forward to coming back to something good this arvo :D

[Serpie]

Looks like HGR (SBN) is still a runner for the 2008 competition Strat.

The answer was: 5 - Cap Raising

One day one of these companies will actually sell stuff, make a profit, and expand that way. Revolutionary thought - I know, but isn't that what businesses do?

I'll hold, and maybe pick some up on market once the effect of the SPP at 4.3c kicks in.

[Coruba]

Please correct me if I am wrong here but the record date for the capital raising is today, meaning if you hold any parcel of SBN you are entitled to subscribe for shares at 4.3 cents.

If this is the case why would you not buy a parcel today if you didn't hold already just for the opprortunity to buy them prior to exercise date giving you a free month to wait to see what happens re the FDA approval amongst other things?

To me it looks a guaranteed profit albeit small in size?

[Serpie]

The record date is today Coruba, but it takes about 4 days to become a registered holder after you've bought shares in a company, so you would have to have bought your shares last Friday.

I've been caught out on that one myself (on DYL) and missed out by one day. DYL SPP was 50c, and currently trading at 37.5c, so not always a bad thing.

Unless HGR (SBN) release another announcement in the next few day, you may be able to pick up at sub 4.5c on market anyway.

[STRAT]

Looks like HGR (SBN) is still a runner for the 2008 competition Strat.

The answer was: 5 - Cap Raising

One day one of these companies will actually sell stuff, make a profit, and expand that way. Revolutionary thought - I know, but isn't that what businesses do?

I'll hold, and maybe pick some up on market once the effect of the SPP at 4.3c kicks in.LOL, That let the air out of my sails. Might go check out all the sad faces on HC:D

[STRAT]

Just read through the anns. Open ended SPP to existing Share Holders. Im not too keen on that. They say they reserve the right to pro-rata the issue down but no ceiling given. Could be 25% of the company for all we know

[Serpie]

True Strat.
Will still hold because of the multi-bagger potential of this one. Even if the cap lifts because of additional shares, it's still tiny.
Haven't read the SPP docs yet. If it's anything like the MRX SPP we won't get a fair crack anyway. My MRX SPP offer arrived today. Closes tomorrow. In Perth! No chance.
Luckily I've got a "proper" broker as well who looked after me.

[Serpie]

I've asked Admin if they can change the name of this thread for us to "SBN - Sunbiomed".

[David Hardman]

I've asked Admin if they can change the name of this thread for us to "SBN - Sunbiomed".

Ouch!

FDA approval not forthcoming. Not the right day to announce this type of news.

Slammed. Down 50%..... nearest bid makes it more like 75%

[Serpie]

There was no good day to release this news. Oh well. More for the bottom drawer. Plenty of space in all of the others drawers now!

[STRAT]

There was no good day to release this news. !True Serpie but there couldnt be a worse day either. I can see em now in their white coats pondering over a test tube with "why but why" expressions on their faces oblivious to anything going on outside the lab :mad::mad::mad:

[Serpie]

And that's where they should be Strat. Not worried about the madness of the sharemarket, but sticking to their knitting.
Sales to date have been without FDA approval, so no reason why they cant focus purely on expanding their client base now.
Looks as though the FDA has been put into the too hard basket for 12 months, which is probably the smart move. Rather than going back to the drawing board and reengineering their product they're best to concentrate on production and sales, and get some money in the bank.

[STRAT]

True but they have gone from being possibly the only one with FDA approval to the only one who has been refused. From a marketing prospective this now not only puts em back with the pack but a little behind.

Im probably being a bit hard on em but that ann tasted like @#%$ sprinkles on todays *%^& sandwich

[Serpie]

You're right off course Strat. It's now officially pie-in-the-sky stuff, and priced accordingly.

All great inspiration for a blues player Strat! You'll be on fire at the moment.

[hero]

Been quiet at SBN since the FDA knock back. Overdue for a market update.

Many deals and joint ventures have been on the cusp of finalisation for some time. Let's hope that some of them can get over the line soon.

Still confident and, despite the FDA knock back, still expect this to be a star performer in this year's ASX comp.

[STRAT]

Been quiet at SBN since the FDA knock back. Overdue for a market update.

Many deals and joint ventures have been on the cusp of finalisation for some time. Let's hope that some of them can get over the line soon.

Still confident and, despite the FDA knock back, still expect this to be a star performer in this year's ASX comp.Hi Hero, Quiet is right but in the absence of any positive news not much to say other than the wild sp movements have made for a good trade or two :D

[hero]

Hi Hero, Quiet is right but in the absence of any positive news not much to say other than the wild sp movements have made for a good trade or two :D

Well done Strat. Good work. Hope you've kept a few aside though. Interest is building again and there's so much in the pipeline that we must get some news very soon. Should be positive this time.

[STRAT]

Well done Strat. Good work. Hope you've kept a few aside though. Interest is building again and there's so much in the pipeline that we must get some news very soon. Should be positive this time.Yeah mate still holding and still at a loss:o. Just less of a loss after jumping out and in a couple of times

[STRAT]

Ann out. Distribution agreement for new product line

http://www.asx.com.au/asxpdf/20080213/pdf/317fcm4l6pq804.pdf

What is of interest to me is that this in a deal with a US company but they are leaving FDA approval in the hands of SBN. This can be taken in two ways. Either this is a vote of confidence or the oppisite and may be one of the conditions of the agreement.

Hero. any thoughts on this?

[hero]

Ann out. Distribution agreement for new product line

http://www.asx.com.au/asxpdf/20080213/pdf/317fcm4l6pq804.pdf

What is of interest to me is that this in a deal with a US company but they are leaving FDA approval in the hands of SBN. This can be taken in two ways. Either this is a vote of confidence or the oppisite and may be one of the conditions of the agreement.

Hero. any thoughts on this?

All positive in my view Strat. Building up the distribution network - with 3 alliances (China, US and Russia/E Europe) now secured in 2 months.

Sun Biomedical has succesfully secured FDA clearance for several previous urine-based testing devices. Urine is not a problem for FDA - as there are many predicate devices on the market for demonstrating equivalency (necessary for the 'streamlined' 510K clearance process). Oraline clearance under 510k was doomed (comparing apples with oranges) and should not be seen as relevant in anyway with this agreement.

In short, its a vote of confidence. The Company (Bioscreens) is a large sophisticated player in the testing market has already invested substantially in the joint venture. It needs SBN's superior membrane technology and would not, I am sure, leave anything to chance.

[STRAT]

Hero,
Thanks for that. I appreciate the reply

[STRAT]

LOL, Have you fellas read todays ann? after reading it I couldnt help but giggle at the image in mind.

Chief Financial office marches in to full board room demanding cost cuts so the CEO says " Sure we can do that. Youre fired!" :eek:

[shasta]

LOL, Have you fellas read todays ann? after reading it I couldnt help but giggle at the image in mind.

Chief Financial office marches in to full board room demanding cost cuts so the CEO says " Sure we can do that. Youre fired!" :eek:

Does appear abrupt though...

Problem is paying him out & ultimately paying more for the replacement means more of your cash/profits/losses down the drain...

It is the role of the CFO to reduce admin costs, so why would you squeal yourself out of a job!

Now he sits on your board collecting $$$$ for nothing :D

[STRAT]

I was joking Shasta and that is not likely to be the circumstance in which he left/got canned. I just found the unfortunate way the ann was written to be humorous:D

[hero]

Does appear abrupt though...

Problem is paying him out & ultimately paying more for the replacement means more of your cash/profits/losses down the drain...

It is the role of the CFO to reduce admin costs, so why would you squeal yourself out of a job!

Now he sits on your board collecting $$$$ for nothing :D

I think the resignation will prove to be win/win. The CFO, being a top 10 shareholder, as well as the chief bean counter, knows better than anyone where the company's limited resources (at this stage of its evolution) are best employed. And that's in the US - the centre of both revenue generation and R&D - not Melbourne.

Since the company employed a gun COO (Jack Kerin) to run the US operations (going extremely well apparently), the opportunity to restructure has presented itself. The CEO is now less needed in the US, which mean the CFO is less needed to run the China initiatives. There is insufficient work for a fulltime CFO in such a small company.....the time was right for a change...resignation solves a couple of problems.

Some of this may become more obvious when we get a company update - which is long overdue.

Meanwhile, I've been steadily accumulating at these ridiculous prices. The recent announced deals will be providing decent revenues by the end of this year. And there is much else in the pipeline....including, hopefully, some progress with the development of a practical device for roadside drug testing (something that wouldn't be subject to FDA clearance - as it would be for sold to law enforcement agencies)

[hero]

Some nice buying action today. A couple of 2m buys and a few more at 1m or more. Plenty more of this action to come as the story unfolds. Some credibility restoration work to be done following the FDA knock back, but with so much in the pipeline and a growing market, this will not take long.

[STRAT]

Hi Hero while you are here. What is the turnaround time for another crack at 510 approval?

[hero]

Hi Hero while you are here. What is the turnaround time for another crack at 510 approval?

Strat,

I think 510k if off the agenda. There are alternative routes to getting FDA clearance - but take longer. I'm hoping that SBN wil be able to negotiate permission to market and sell to workplace markets pending clearance. I expect all will be explained in a market update in the near future - hopefully in the next week.

[Serpie]

In their announcement relating to FDA clearance SBN said that FDA approval would be delayed by up to 12 months, so I got the feeling that they were going to change tack, and come back to it when they had a bit more revenue under their belt.

[hero]

Mexican Government has commenced its drug testing program (formally launched and announced by the Mexican President 24 hours ago) after 7 months of detailed preparations (getting schools and parents on side, identifying priority targets etc).

Given its significance to the company I would expect an update from either today or Monday.

[hero]

Good day and strong finish on an otherwise down day (Friday). Very thin on the sell side. Any positive news should see a strong upwards move.

[STRAT]

Hero,
SBN going for a run today. Are we due some news?

[hero]

Hero,
SBN going for a run today. Are we due some news?

Strat,

Looks to me that the post FDA failure selling has completely finished and now fairly tightly held. Also positive expectations of a much improved quarter financially - just based on organic growth from existing product lines and restructure cost savings. We'll know in a couple of weeks - but based on the explosive growth in internet sites promoting
Oraline as well as sales into Mexico, I am expecting a possible 200% improvement in the bottom line.

Then there are all the new and potential projects getting closer - the Bioscreens joint venture sales commencing in a couple of months, Chinese Government approvals for Chinese production, Russian approvals, Mexico pilot testing (concluding end of April) etc. And the one that really excites me - innovation in the roadside testing space.

There's enough people know what's coming the next 3-6 months.

[STRAT]

Strat,

Looks to me that the post FDA failure selling has completely finished and now fairly tightly held. Also positive expectations of a much improved quarter financially - just based on organic growth from existing product lines and restructure cost savings. We'll know in a couple of weeks - but based on the explosive growth in internet sites promoting
Oraline as well as sales into Mexico, I am expecting a possible 200% improvement in the bottom line.

Then there are all the new and potential projects getting closer - the Bioscreens joint venture sales commencing in a couple of months, Chinese Government approvals for Chinese production, Russian approvals, Mexico pilot testing (concluding end of April) etc. And the one that really excites me - innovation in the roadside testing space.

There's enough people know what's coming the next 3-6 months.Hi Hero,
Those are reasonable assumptions but the sudden price action in the last two days indicates something else to me. Im thinking someone knows something we dont and I guess we will find out in due course:D

[STRAT]

Hi Hero,
Those are reasonable assumptions but the sudden price action in the last two days indicates something else to me. Im thinking someone knows something we dont and I guess we will find out in due course:DStill waiting to find out what everyone else seems to know. Perhaps I should log onto HC :eek:

Anyway, 2c at the start of the month and now at 4.7c :D

Im not complaining :D

[STRAT]

1c:(

Dear oh dear,

Got left holding the baby here. Not too many thankfully.:o

Hero, Now would be a really good time to come and tell me its all gonna be alright:D:D:D

[Serpie]

This is the bottom I reckon Stratski,

I'm going to apply for the shortfall.

[STRAT]

This is the bottom I reckon Stratski,

I'm going to apply for the shortfall.Dunno, Serpie, could go down another cent:eek:

Cant complain though , Ive ahad a good couple of months is spite of being left holding a few of these

[STRAT]

This is the bottom I reckon Stratski,

I'm going to apply for the shortfall.Good call Serpie.

.....and we are off again:D

[Serpie]

Didn't get in Strat. I'm waiting for confirmation that the cap raising has been succesful, which should be early next week, and then I'll have another look at it.

At least this will help us in the picking comp!

Have a good weekend.

[hero]

Strategic 5% investment announced yesterday. Takes the recent rights issue takeup to an astounding 94%. Not bad in this climate!

More intriguing is whom the plavement went to.

A couple of very big months coming up for SBN

[broz]

Was I the last one out, to turn off the lights?

[STRAT]

Was I the last one out, to turn off the lights?Hi Broz, I still have a few but I think SBN are History. You never know. Yet another of many examples that has convinced me trading the Stock Market is great for me but Investing I will leave to the Fundies. I take my hat off to the people that profit from buy and hold.

[STRAT]

LOL Serpie

Yet another sunk boitech becomes a miner. Too funny. They are busy making announcable agreements for small change so Im not expecting anthing too exciting for at least another 100 years

[Serpie]

Unbelievable,

They've obviously abandoned any thoughts of continuing with their core business activities if they're taking $200k of shareholders money and throwing it at (down?) a mine in South America.

I must go back to HC and catch up on the gossip.

[STRAT]

Unbelievable,

They've obviously abandoned any thoughts of continuing with their core business activities if they're taking $200k of shareholders money and throwing it at (down?) a mine in South America.

I must go back to HC and catch up on the gossip.Haha
They have become an Oil company.

They just need to get 5,000,000,000 shares sold at 0.16c :scared::lol::lol::lol:

Could be a go. Pattersons are the under writer. I feel a P&D coming on :ohmy:

:blush:I actually still have some of these Serpie :blush:

They went up 100% today so theyre now worth $35 more than the cost of selling them :rolleyes: