Also a recipient of a Callaghan Innovation R&D grant for the dog product development
https://www.callaghaninnovation.govt...treatment-dogs
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Also a recipient of a Callaghan Innovation R&D grant for the dog product development
https://www.callaghaninnovation.govt...treatment-dogs
These are two great pieces of news. However I'm not quite clear on the purpose of the Callaghan grant - my understanding was that PIL was aiming for a product this year but I may be misremembering. Also - it will take time to ramp up sales in Australia, something which will be difficult without a CEO in place. Still hold but too many questions for me to get too excited just yet.
Doesn't quite justify the massive price jump today, but I guess theres a lot of nervous nellies thinking they will miss out on a one product company with one good year. I guess you only need one good investment, with one good product to do good in one market to live one good life right?
"Of the two, GO Healthy is actually the more established brand!" LOL.. yes true.. but which one tastes better ?? :)
I think the grant was related to the canine product. The company is well advanced with this and it is potentially lucrative. No taxpayer subsided vet bills and products, so a natural product that works will be attractive to dog owners compared to the cost of vet bills. Especially for something like arthritis which requires long term treatment.
About Australia - NZ has been a test bed for advertising cost v sales. The company has reported that the advertising is worthwhile, so probably the same will apply over the ditch.
I'm not sure what they have in the product pipeline, but knowing the properties of artemisinin I wouldn't be surprised if they were working on a cancer fighting complementary medicine as well.
https://www.sciencedaily.com/release...1014111309.htm
PIL annual report published today. Nothing new really, but the photos of the supercritical extraction process are well worth a look. This was key to the establishment of the company, though I have no idea what it is exactly and whether it is also used by others in that marketplace.
Just received my proxy forms in the mail for the AGM next Tuesday. Great to see a few nominations in there. With only 3 board members and no CEO it will be interesting to see if any of the nominations are passed. My guess is that the current board might approve one so that they do not give up control but approving 2 would be a reach. 2 of them have extensive marketing experience, which is what this company needs. It is all about creating demand, which they appear to be demonstrating well here in NZ. Great product...
Two of the ladies have now withdrawn...... pretty mickey mouse IMHO. what's in the Anthrem Juice that turns them off!!??
Director Nominations
9:19am, 30 May 2017 | ADMIN
30 MAY 2017
PROMISIA INTEGRATIVE LIMITED – DIRECTOR NOMINATIONS
The Directors of Promisia Integrative Limited (NZX: PIL) advise that Ms Barbara Donaldson, nominated by shareholders for election to the board of directors, has withdrawn her nomination and, accordingly, Resolution 5 in the Notice of Meeting will be withdrawn.
After my grumpy words re the withdrawal of 2 female director nominations I thought I had better go along to the PIL AGM today.
Positives
- CEO role currently being filled on an interim basis by Director Thomas Brankin on a voluntary/unpaid basis
- New pet product ready to be launched
- Hopeful of profit in FY18
- PIL v involved with the supplier of their raw material and monitors quality from seeds to harvest
- 1 x new female director seems to have good skills in marketing and internet.
- Well researched product with genuine benefits
- TGA certification in Aust is a major plus and allows for much stronger advertising claims in Australia than in NZ
Negatives
- New CEO not likely until end 2017
- New competitors trying to muscle in on Arthrem’s success in NZ
- Launch into Aus market not likely until late 2017 and then only 1 state initially
- No moat of IP protection for their key product
- Overly reliant on one product and one raw material supplier
- Clunky web site but due for improvement
Overall
Speculative and not for the faint hearted, but well worth watching.
Some additional notes from the PIL ASM.
Profit expected this FY.
The number of shareholders is increasing - now 20% more than last year
#1 risk is a break in the supply chain of artemisia annua. However PIL controls the chain and is working with the Tanzania growers to increase production, including by improving the growing environment, eg optimal fertiliser. 2016 production up 60% and same increase expected 2017. Drying sheds have been set up to guard against weather, and they will add sheds as needed. From the photos they look like big tents. The company has stock on hand.
The Chair would make no comment on the departure of the previous CEO.
The issue of board nominations being withdrawn was raised. Three nominations were received right before nominations closed. There was one board vacancy. The board talked to all three and decided on one nominee who has expertise in marketing including social media.
Arthrem
A few doctors are now prescribing Arthrem. One shareholder said from the floor that his doctor said he had prescribed it for 20 patients.
Australia launch of Arthrem in Victoria before the end of this year. PIL is allowed to make claims there about reducing pain and other medical efficacy. These claims are not permitted in NZ by MedSafe rules for natural products, even if there is scientific evidence. PIL are v careful to stay within the rules, as to break the rules could mean MedSafe requiring product to be withdrawn from sale.
There are now 3 competitors to Arthrem, compared to none last year. One is established brand GoHealthy. So far PIL is the only one with science backing it.
New TV ad for Arthrem from today.
One reason PIL is focussing on sales through pharmacies is that there are a few contraindications for those on other medications. Arthrem is one of the top sellers in dollar terms. Some anecdotal evidence that some customers are moving to other brands, then moving back to Arthrem.
Due Diligence has begun in the South Korea market.
Artevite
Canine product is called Artevite and will be sold via pet shops and vets. Maybe only initially, not sure. Launch is to be August and will include a TV ad.
Artemisia annua is very bitter, which is not so much an issue for humans because of gel caps. These are no good for dogs though as they chew and bite. PIL has gone to a lot of effort to make it palatable, some big scientific words used which I didn’t understand but they sounded good! They also talked about how they went about determining if Artevite was working to eg reduce pain. Can’t ask the dogs, but once the product is out there I’m guessing owners will know.
Great info. Did you get to meet the new director?
bit of volume 'out of nowhere' today...
https://www.nzx.com/companies/PIL/announcements/303968
Being sold down - hardly surprising now that growth momentum has stalled into a snail's pace.
interesting. There was 800K on the bid for the match this morning, before any of the sellers turned up... possibly ...."smoke and mirrors..."
I'm out of this one but worth keeping an eye on if they can get a few more channels going (ie Australia / Dogs). Even if not it might be worth a look sub 3c. Too much growth priced in for me right now though.
Report to 30 June published today. Australian launch of Arthrem a bit slower than expected but now scheduled for late September. NSW only to start with. PIL now have experience with advertising and distribution in NZ and the impact on sales (good). Assume they will follow the same path in NSW.
Launch of Artevite for dogs in NZ now also scheduled for late September. Turning the corner?
Yes. Just saw this announcement. This is very encouraging. This combined with a new CEO should create some serious growth by year end.
INTERIM: PIL: Promisia appoints new Chief Executive
The directors of Promisia Integrative are pleased to report on the six months
to 30 June 2017 for the company and its subsidiaries. The period under
review has required a sharp refocusing of management effort to secure the
launch of Arthrem in Australia and the launch of Artevite in New Zealand.
Financial Results
Sales for the period were $1,318,000, a 33% increase over the same period in
the previous year. The operating net loss for the period was $349, 000, a
slight reduction on the 2016 result for the same period.
New Zealand Sales
Sales of Arthrem have stabilised and the market may have reached a point
where the rapid growth seen in 2016 has abated. The company believes that
market growth is available but at a slower rate than experienced in the past.
Competitive products have appeared, as expected, but their presence is
expected to grow the overall market. As a brand, Arthrem is well recognised
and continued to be the best selling over the counter item in pharmacies in
dollar terms. The company continues to work with its distributor to maximise
sales to pharmacies and has produced a package of instore support material
for pharmacies.
The company's online presence has been enhanced with an excellent response
level on Facebook. Positive customer testimonials are received regularly and
the level of online awareness and sales is increasing.
Australia
The directors are pleased to advise that the company has entered into a
pharmacy distribution agreement with Pharmabroker Sales Pty Ltd, a leading
wholesaler of a wide range of products to pharmacies across Australia. The
initial focus will be solely on New South Wales which has a higher percentage
of independent pharmacies rather than franchises or members of national
chains. Pharmabroker has been of considerable assistance to the company in
securing business relationships with other parties required for a successful
launch into this market.
The launch of Arthrem into the Australian market has taken longer than
anticipated. The company's strategy is based on using third parties to
provide services for either all or specific stages of the marketing chain.
It has taken much longer than expected to complete satisfactory arrangements.
The company is negotiating arrangements for the provision of order fulfilment
and debtor management services in Australia.
Pharmabroker will start marketing Arthrem to pharmacies from the beginning of
October 2017.
Canine Product
The company's product for the treatment of osteoarthritis in dogs is due for
release in late September 2017. The product is to be branded as Artevite and
will be sold through veterinary clinics, pet stores and online. The company
has signed a marketing and distribution agreement with Brooklands Pet
Products of New Plymouth which has an extensive countrywide marketing and
distribution network.
New Markets
The company continues to investigate other markets for Arthrem and one Asian
market is under active investigation with identification of import
requirements and securing regulatory approval being the focus of attention.
Recruitment of new Chief Executive
The directors of Promisia Integrative Ltd are pleased to announce the
appointment of Mr. Rene de Wit as the company's new Chief Executive.
Rene de Wit is an accomplished CEO and change manager with 25 years'
experience in FMCG, food manufacturing, printing, packaging, import/export,
financial services and logistics. He has been particularly successful in
leading and developing teams that deliver. His former roles include CEO or
General Manager positions with Watson & Son, Colorite Group, and Scalzo Food
Industries.
Rene holds a Master of Organic Chemistry and a MBA from the University of
Otago and will take up his position on 9 October 2017.
In the interim, the role of Acting Managing Director has been filled by
director Tom Brankin. The directors thank him for his commitment to the
company over the last six months.
For further information please contact:
Mr Stephen Underwood, Chairman on 027 499 3387
Mr Tom Brankin, Acting Managing Director on 021 944740
End CA:00307914 For:PIL Type:INTERIM Time:2017-09-28 09:40:32
To me this is going through some standard operational delays for a small company. Nothing unexpected 'yet'. Price starting to look attractive again. Anyone else still have this on their radar?
Hi FG - I am new to this one, picked it up at 2.8c. Have you been in this one for long?
Good friend of mine took Arthrem but his chemist recommended he switched over to Go Arthri-Remedy as exactly same product but stronger and cheaper. Chemist said not to worry about the other two products.
Arthrem is being discounted to match the competition and it is possible to get the 60 cap at $29.95 - way down on price of $45 last year.
Not saying one is better than the other - purely an observation of what's happening.
Arthrem has no IP or patent protection.
Both exChairman and CEO resigned, siting time to do other things. Anyone want to hazard a guess as to whether they have been selling down their shareholdings (and as non staff or director, no more SSH required)?
They have chosen to create a new product to reduce arthritis in dogs...that's before they have attempted to sell their product to humans! (Outside of nz)...I'm no pharmacologist...I'm also no great expert in fundamentals...but I don't see how this is a long or short term investment?
I can't find any scientific studies to suggest it is anything but a placebo...unless their are facts out there I havnt yet uncovered?
That's not very logical, unless you think research and development should not be done in parallel. Canine arthritis is a potentially large market.
Where did you look? Not at all hard to find.
Our philosophy is simple — apply scientific testing to create effective, safe and trusted natural therapeutic products
https://arthrem.com/arthrem/scientific-evidence/
You are right - pet owners are well known for being prepared to spend thousands of dollars on treatment on their beloved pets (especially dogs) rather than themselves. So market is huge.
Arthrem certainly provides relief - personal testimony of my friend but who now uses Go-Healthy due to recommendation of his chemist.
PIL is one company I looked at closely when it was brought to my attention and am glad I made the decision not to invest.
Several reasons :
1. It is a backdoor listing which means mostly one thing - wealth transfer from investors to the promoters of the company imo.
2. Prepared to look however as product received excellent reviews from users (especially personal contacts, including a doctor friend who asked me to review the company as an investment) - but no real barriers to entry so big red flag.
3. Sure enough, Go-Healthy launched a siiimilar product at effectively half the price!
4. Founding Chairman and CEO resigned, and to me that is the death knell of investing in this company. Bet you they have been selling.
I dumped all my holdings yesterday - took a small bath but not too bad. Have transferred to Galaxy. Will still watch this one however.
The heart and sole of Arthrem is Artemisia annua extract - sweet wormwood
Artemisia annua has been proven to inhibit one of the Cytokines TNFa ( tumor necrosis factor alpha ) - TNFa signals the immune system to create inflammation where it think it is needed.
Inhibit TNFa and you break the production chain of inflammation.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4298291/
50 ug/ml dosage of Artemisia annua (Aa extract) inhibits the production of TNFa by 100%
Attachment 9242
Artemisia annua has also been proven to inhibit PGE2 ( Prostaglandin E2 )
http://onlinelibrary.wiley.com/doi/10.1002/eji.200838969/full
https://www.hindawi.com/journals/arthritis/2012/239310/
Attachment 9243
Prostaglandins are small potent inflammatory mediators that are generated by the release of arachidonic acid from the membrane phospholipids. Subsequently, cyclooxygenase and Prostaglandin synthase enzymes metabolize arachidonic acid to prostaglandins including PGE2, PGF2α, PGD2, PGI2 (prostacyclin), and TXA2(thromboxane), that play pivotal roles in the modulation of physiological systems, such as CNS, and the inflammatory and immune responses.
More studies are to come - "Preliminary investigations were also conducted on the ability of A. annua to modulate production of the cyclooxygenase (COX) inflammatory mark"
The main ingredient is clearly attributable to a reduction in inflammation... this could expand far beyond arthritis alone.
Would I invest currently? - watching it closely and giving it a year or two... I don't know their plans for marketing and label expansion for one of the only natural inhibitors of inflammation on the market.
It is a shame as this product in the hands of one of the bigger companies could be selling rather well.
Local research funded by Promisa? - not scientific enough for myself but not to say it isn't accurate. I have read a mixed bag of reviews for the product. But the research focuses on the plant extract itself. Which I assume is owned by mother earth and can be grown commercially by anybody. Promisa's only real advantage is getting to market first - but just the NZ market.
Canine arthritis is a very small market compared to that of us mere humans. The time and money spent developing and releasing a canine product to market might have been better spent establishing the Arthrem brand beyond NZ's shores.
Its hard to see where they can take this now.
Maybe the canine option will give them a niche they can take further afield.
https://www.nzx.com/companies/PIL/announcements/308951
3rd Quarter 2017 sales = $516,336
Funny how the company does not disclose previous year's equivalent quarter sales (unlike previous releases boasting of huge %tage growth in sales) so a bit of digging shows:
3rd Quarter 2016 sales = $833,009
Sales has dropped 38% !!!!!!!
Deceitful, misleading and thoroughly dishonest sort of update to the market.
Game over.
Interesting that the SP is up today
Good work Balance. Not sure if I would be calling it as 'game over', tho' clearly much depending on their success (or otherwise) in NSW in the first half of 2018. Clearly a challenge ahead for the new CEO.
Hundreds of thousands of dogs in NZ - 28% of households have one or more - and 1 in 5 of those will develop osteoarthritis.
Vet bills and prescriptions are expensive. A natural remedy that works and is cheaper will be attractive to dog owners. Promisia has invested time and money into making their product palatable for dogs.
Early days yet but good outlook IMO.
Ideally, you would need the drug peddled ( used the word lightly ) through veterinarians as opposed to over the counter.
We pay about $20 a month for my dogs arthritis medication, only needing to see a vet every 6 months for a check up.
And with Arthrem the problems are the price point, lack of marketing and that majority of the consumers of arthritis medication follow doctors suggestions/orders.
Even if it works ( like everything else on the market claims to ) $40 a bottle could be considered steep - where repeat prescription drugs are closer to $15.
http://www.redseal.co.nz/product/red...BoCOA0QAvD_BwE
Red seal has 30x300mg Artemisia annua capsules and grapeseed ( 1month supply ) for $25nzd
Exact replica of Arthrem dosage.
Not sure what competitive advantage PIL has, without IP protection the larger companies will be racing to the bottom and bump them out of the picture.
Without patent or IP protection, chemists these days can analyze and reproduce any medications to the last chemical microns.
As long as Go H and Red Seal have got the Chemists and Pharmacists convinced that their products deliver the same effects at half the cost, only one way for PIL's sales and margins to go.
Sad but true.
Are you a chemist too?
No one fears competition if its a level playing field.
Well done on getting to number 207 or whatever in the share picks btw. That’s an improvement.
Arthrem is still the only natural product out there that’s had the confidence to put itself through proper clinical tests .
Time will tell. No doubt more artemisia based stuff will be on the shelves in time adding to consumers choice.
By way of background, I was asked to have a close look at PIL when one of my friends started using Arthrem and said it was doing wonders for him.
I backed off investing after analyzing the company when I referred the medication to another friend who is in the pharmaceutical industry for his view. First point he made is that there is no patent or IP protection and the ingredients are easily obtainable. Second point he made is that any medication requires massive spending on promotion and advertising to obtain scale - why the industry is dominated by the big boys.
I completely wrote off the stock as one to invest in when the Chairman and CEO both resigned over the last 2 years even while the company reported spectacular tripe and double digit growth in sales. It is very very telling how little future they see in this company to leave the company just when the sales are coming through. Smells too much to me like a good time to sell down their shareholdings without scrutiny imo.
So relax, Lola before you need to swallow a few dozen Arthrem to calm your nerves down :D
PS. You may be interested to note that the stocks selected under my name (kindly by PT) are precisely the stocks I tell posters here to avoid like HIV. And they are performing exactly as they should!
Any news on Promisia? They have gone very quiet. Had big hopes for them in 2017. Wonder how the K9 and Aussie launch have gone?
Probably too early for much news, as only a very few weeks since both launched.
One stat about Arthrem. Back in July I checked the monthly site visit ranking for the Aust Arthrem site on URLMETRICS as a bit of a baseline. (I know, sad life!) Then the site was ranked at #1,119,463. It is now ranked at #908,035.
Not exactly going viral, but still a decent rise up the ranks. May mean nothing much in terms of sales.
Yes. Very interesting observation.
Looks like the company lost its way in the 2nd and 3rd quarter in terms of sales. But surely the K9 product and the launch into Australia should pick up the slack.
Plus they have a new CEO with a couple degrees.
What is the URL of the Australian site. I remember them saying that they had to be careful what they said in NZ, and I'm guessing this will apply in Australia as well, even as a 2nd tier natural medicine.
bulyak, this is the URL.
au.urlm.com/www.arthrem.com.au
Redirected to arthrem.co.nz
Over the weekend I saw PIL's new TV commercial for Artevite, a dietary supplement for dogs
Quite impressive..... there may be life in this old dog yet!?
I see they are advertising for 3 sales reps and a Marketing coordinator
https://www.seek.co.nz/job/35242155?
https://www.seek.co.nz/job/35242402?
Share price getting a bit hammered today... Must be due fore a sales update soon.
Interesting announcement today. My brother took about a dozen nurofen for a hangover, thinking the more he took the better it would work. And he too also suffered a short case of Jaundice. Some silly bugger probably thought the more he took the quicker it would work. Whats more interesting is the share trading that took place before the announcement. Obviously price sensitive info leaks through this company like a sieve.
Not really price sensitive info leaking through the company. Just a response to public information
And when did it become aware?
End of last week?... I would give them a day or so to react... Not exactly a high proportion of people having a reaction. Compared to other medicines seems very minor.
Not sure creating mass panic over 14 reactions would be great conduct
Announcing to the NZX wouldn't create mass panic amongst except maybe amongst nervous shareholders, but the fact that the mainstream media picked up on it should be enough that PIL announce their views to the market (at least), preferably before the media, but that's too late now. Whether they will or not remains to be seen.
Yes. Kind of agree. But the NZX labelled it as price sensitive. Just did a little investigative work and it appeared on the medsafe website well over 4 days ago. http://www.medsafe.govt.nz/safety/EWS/2018/Arthrem.asp So they've known. But you are also right. Less then .007%. Lola's strawberrys upset my stomach as well.
https://www.nzx.com/files/static/cms...2014%20(1).pdf
Share price move today showed the information is material.
Lola - you are the latest to try and take me on - and you are most welcome. Start by reviewing those who took me on in NZOG, Pike River, Snakk, PEB, Plus SMS etc etc.
Try harder. :D
Think you should get hold of the media and tell them to get a grip?
http://www.nzherald.co.nz/nz/news/ar...ectid=11997751
https://www.odt.co.nz/news/dunedin/a...-liver-medsafe
https://www.stuff.co.nz/national/hea...-harm-to-liver
"Popular Arthrem medicine linked with potential harm to liver"
"Arthrem poses risk to liver - Medsafe"
"Warnings over dietary supplement Arthrem over liver harm"
its gonn aget SMASHED on the match.. down 77% lol
Well rightly or wrongly i bought at .005 and currently up 100 %. That will pay for my holiday next week. 😎
This was totally within the realms of possibility for a poorly characterised "complementary medicine" product and should give real cause for concern if they claim that risk is linked to dosage.
Reason: they don't know what is in their product. It's not a drug comprised of one characterised compound, but a crude extract of literally thousands of different compounds from a plant that makes a bewildering array of specialised metabolites. Why does this matter? Changes in growing conditions due to environmental factors or farmer actions may considerably alter the composition of chemicals in each batch of product, and Promisia has no meaningful way of monitoring this. In reality, the dosage of active ingredients probably changes with every batch, and the plant is not even grown locally (mostly in India). Just one of *many* problems I have with this outfit. Please don't bring up the published studies - a critical eye can see that they are barely passable and the authors had to work to get the statistics in line.
Totally agree that all drugs give cause for concern if overdosed - that's partly how a dose is defined ;) the difference between this product and a therapeutic drug is that a drug manufacturer is required to know exactly what is in their product and how much of it there is, so that a dose can be defined. Did you follow my point about why this is a problem for Arthrem?
I'm happy to take your word that the company gets their particular plants from a supplier in Tanzania and I don't dispute it. My point was that they likely have very little insight or power when it comes to growing conditions and quality control, as this crop is almost exclusively grown in developing nations far from NZ. Regarding India in particular: a massive expansion of Artemisia annua cultivation in India was partly responsible for crashing the price of artemisinin a couple of years ago (artemisinin = the approved antimalarial *pharmaceutical drug* that is *purified* from Artemisia annua extracts)
Cheers for that clarification . Im still happy to have made $4 k today. And see how it goes tomorrow . This will not be a long term investment .....
https://www.nzdoctor.co.nz/article/n...-harmful-liver
Biggest problem for PIL now is the potential liability it has overseas - could run into many millions of dollars if they get sued overseas.
They do not take prisoners overseas - unlike NZ.
Paracetamol can also cause Liver Toxicity....
Late in the day announcement yesterday: https://www.nzx.com/announcements/314979
PIL have $300k left in the tank... placement will be just around the corner no doubt.
Only thing nice to see in that report was the gross margin improving to 72.5%.
See the Interim Financial Statements: http://nzx-prod-s7fsd7f98s.s3-websit...979/275583.pdf
p5. Cash at end of period = $324 000
Sorry, I do see the below in the notes which occurred after the HY...
During January 2018, the Group completed private placements of 47,750,000 shares to wholesale and eligible investors at an issue price of $0.02 per share and raised the sum of $955,000.
Cash burn continues nonetheless, what are they going to do to put out the fire?
Any idea how long that cash will last ?
Looks like Medsafe might have delt a killer blow with sales down so drasticaly .
i wonder if they can return from this .?
https://www.nzx.com/announcements/317584
they say April sales are double March, but March was pretty awful.
I asked at a pharmacy on main st here in the 'nui and they said the sale of Arthrem is nearly back to what it was before the medsafe scare.
The severe cash burn was there before any damage was done by Medsafe... this one is going to be stuck in one of those never ending snowballs of cash raises.
NZ sales alone are never going to cover PIL's current expenses and the establishment costs extending Arthrem any further overseas ( without a licensing agreement ) will require capital they do not have.
A high margin product like Arthrem could easily be absorbed by an established player with existing facilities to return a solid profit.
Great news to hear things are returning to BAU post Medsafe notice. Not sure I agree with severe cash burn pre Medsafe. They have shown positive cashflow in the past when quarterly sales were at a respectable level. https://www.nzx.com/announcements/296304
4Q16 was the only period of profitability in 3 years for PIL... let's not pretend like Medsafe are the reason they aren't profitable.
1H16 = -366k
FY16 = -459k
1H17 = -350k
FY17 = -876k
Staff and employment costs have risen to 388k from 180k for what reason exactly?
A few notes from the Annual Shareholder meeting today:
- After the Medsafe Alert sales of Arthem dropped to 10% of previous level. As a promotion had recently finished, pharmacies were stocked up while sales were dropping.
- Key competitive products have been withdrawn following the Medsafe Alert, so a small silver lining for PIL.
- New and quite intensive strategy involving pharmacists seems to be working, sales
trending up. Small inhouse marketing group formed and are contacting all pharmacies by phone monthly, and programme of visits rolling out. The latter will expand as funds allow. A short 4 question survey for pharmacies to use with enquirers has been rolled out (4 x yes = OK). Same approach will be rolled out in Australia.
- Not much on Artevite. Early days. Safe testing done by Massey Uni, no clinical trials yet (cost). Successful clinical trials should lead to vets prescribing.
- Convertible notes issue coming, minimum $10,000. Associates of one of the directors has committed to a large 6 figure take up, a sign of confidence.
- Quite a bit of talk and discussion about Medsafe - very unresponsive to info requests and queries, and so coming across as arrogant.
ETA Marketing function has been brought inhouse which may be some or most of the reason for staff costs rising.
must be due for a quarterly update soon...
and there it is.... me thinks they need to find some cash - STAT
Promisia just cant get a break - another Med safe update !
Crikey, not looking good. Could This be the death knell for PIL? It is certainly not going to help their CR/consolidation.
(Disc - did hold, but no longer. Watching with interest.)
and after weeks of nothing, someone hit the ask for 950K shares.. i see Artevite have a 2 for 1 deal starting tomorrow.