PEB - Pacific Edge Ltd

[Balance]

Very good question indeed but you will have to ask.

Not from PEB shareholders here will you get such hard-to-answer questions - they cannot and will not want to know and handle the truth.

When the false sales were highlighted in the past via the unbelievably high levels of receivables relative to sales year after year, all kinds of excuses and answers were created to try and explain away the BS. The most infamous excuse was that PEB did not/does not give away free tests!

Smoke and mirror are preferable to cold hard reality.

[pierre]

Has anyone used the AGM question link to ask about the previous "fake sales" - the huge number of bad debtors that they wrote off.

Very good question indeed but you will have to ask.

Not from PEB shareholders here will you get such hard-to-answer questions - they cannot and will not want to know and handle the truth.

Another typical sweeping statement from our friend.

On the contrary Balance, I have a great deal of interest in having that question asked and in obtaining an answer - as I expect do other PEB holders.

Regrettably, I am unable to attend the AGM in person, nor to attend the meeting online, next Thursday 24th as the time clashes with a Board meeting of my own company. Hopefully, another holder will log on at www.linkissuers.co.nz/virtualmeeting and take the opportunity to lodge a question for the directors about the situation.

Is anyone available?

[Bing]

Has anyone used the AGM question link to ask about the previous "fake sales" - the huge number of bad debtors that they wrote off.

Listen to the last investor conference call on the PEB website and you'll have your answer. The "fake tests" were CMS tests that were done for "free" and then added to receivables in the hope that the CMS agreement would be signed soon and the tests could then be charged to CMS.

Of course the agreement has not yet been signed despite the talks "progressing well" year after year so they have had to write them off. David maintains that if the agreement is ever signed then they could have another crack at submitting these tests for payment.

I'm more interested in how the sales are going and how much money is left in the bank. Hopefully we get some answers on Thursday.

[Balance]

Booking free tests as sales and said sales as receivables - year after year!

Whatever happened to one of the most basic guiding principles & concepts out of accounting with PEB - conservatism?

[Balance]

Booking free tests as sales and said sales as receivables - year after year!

Whatever happened to one of the most basic guiding principles & concepts out of accounting with PEB - conservatism?

In fact, I believe that the auditors have not done their job of sticking to the underlying principles of conservatism and matching revenues with expenses when approving past accounts.

The proof is that the receivables were written off.

Guess it goes with the 'hype' mentality of PEB to get capital to burn.

[Bing]

I'm not sure how they got that past the auditors either, I must be honest.

[kiwidollabill]

https://www.nzx.com/files/attachments/264348.pdf

etc etc....

[Arthur]

AGM thoughts. Bureaucrats and process will decide if the company dies or thrives. The directors admit time is ticking, but say they have no control over the timing of any formative customers. Kaiser is meant to be itching to use the tests, put the paperwork seems never ending. There are so many other things happening at Kaiser that these tests are insignificant to them. When (if) the deal is signed they will be fast to implement (the planning is in place for acceptance). The American director said they were doing well in the CMS process. In his experience progress was faster than he would have expected. On the bright side 2 of the VA centres targeted have already taken the tests on board. They have expanded the target VA centre group to 14, up from an initial 5. Mid Central health is significant, there is high expectations others will be forced to follow their lead.
There was a clinical slide shown at the AGM that provided compelling evidence as the the need for PEB tests. Schedule price is over $2,000 a test (higher than I thought it would be). My gut feeling is that in 5 years this with either have gone under or will be worth $5 a share. I will hold

[Leftfield]

Thanks for sharing. This non PEB holder would like to see them succeed.

[Carpenterjoe]

AGM thoughts.They have expanded the target VA centre group to 14, up from an initial 5.

Thanks Arthur,

I'm keeping an eye on the competition and assisting with company valuations, MDX are releasing their bladder cancer product this year.

http://mdxhealth.com/sites/default/f...ation.8917.pdf