posted
Medical Services International China Project Update and Summary March 23, 2005 06:00:00 AM ET
EDMONTON, Alberta, March 23 /PRNewswire-FirstCall/ -- Medical Services International Inc. (Other OTC: MSITF) is pleased to announce that its China project, which has involved marketing the Company's VScan HIV 1&2 Rapid Test Kit to various regulatory authorities in China, has reached operational status. For the last two years the Company has volunteered its VScan HIV 1&2 test kits to repeated government testing and regulatory scrutiny in China, with the end result being an overwhelming approval by Chinese officials-mostly due to VScan's cost-effectiveness and its overall accuracy rating of 99.8%.
Based on information supplied to the Company by Chinese officials, no other rapid test kit for HIV 1&2 has ever achieved results as high as those achieved by Medical Services' VScan HIV test kit. In December 2004 the VScan HIV 1&2 test kit was granted approval from regulatory authorities, and in January of 2005, it was announced that the kits were to be utilized by nine "blood bank" facilities in China.
In addition to those milestones achieved in December and January, here is a summary of recent announcements and accomplishments made by the Company since the beginning of this month (March 1, 2005):
1. Chinese officials have granted the Company a contract to supply 10 Chinese Provinces with 3.6 million VScan HIV 1&2 test kits per year, for the next three years. This contract has a total value of US$25.5 million, based on an assessment of the contract performed by an independent accounting firm. In addition, the assessment also revealed that Medical Services would realize $4,331,000 in gross profit per year from the sale of those 3.6 million kits. 2. The Company has been asked by Chinese officials to submit its TB, Dengue Fever, Hepatitis B and Malaria test kits for regulatory approval. The Company anticipates that it will receive approval of at least the VScan TB test kit early in Quarter 1 of the upcoming new fiscal year. 3. The Company has begun shipping its VScan TB Rapid Test Kits to Chinese hospitals on an experimental basis. Currently both the TB and Hepatitis B test kits are being evaluated. As a result of these recent accomplishments, Medical Services is now issuing the following projections:
1. As the Company's HIV Test Kit program becomes active, and hospitals utilizing the kits are reporting positive reviews, Medical Services anticipates acquiring additional contracts for the kits from those provinces not included in the initial ten provinces designated by Chinese officials. 2. Based on all of the Company's existing contracts, plus additional orders that have been recently placed by Chinese agencies and by other parties, Medical Services is now projecting gross sales of approximately US$10.9 million for the upcoming fiscal year scheduled to begin July 1, 2005. 3. Should approval of the Company's TB test kits be achieved in Quarter 1 of the upcoming fiscal year, it is reasonable to expect that the Company will generate an additional $2.5 million in sales from the VScan TB test kit. The Company has high expectations for steadily increasing orders and contracts from China over the next three years. In addition, recent regulatory approvals in India, Nigeria, Congo, and 10 other countries for the VScan HIV test kits, lead Medical Services to estimate that it will most likely need to produce in excess of 6.5 million test kits to fulfill orders in the next fiscal year. The Company is currently seeking approval for its kits in 19 additional countries worldwide.
IMO, this summary says it all - a real company with a strong approved product with several more with large potential in process. I think this will be a big winner in 2005 and beyond. At the current price - it is a screaming bargain.
GLTA longs
-------------------- laughing is therapeutic Posts: 71 | From: springfield, MA, USA | Registered: Mar 2004
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posted
More news tonight. Another $25M contract with the governmant of Nigeria.
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
I will be watching this one close... does anyone have a good chart on them. I can pull some up, but nothing that shows up very well - at these low prices?
Posts: 285 | From: Wyoming | Registered: Oct 2004
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posted
The last time news like this hit Msitf it went up over 0.0050 but came down just as fast a daytraders dream lol todays news Medical Services Awarded Additional $25 Million Contract for its VScan HIV Test Kits via COMTEX
April 10, 2005
EDMONTON, Alberta, April 10, 2005 /PRNewswire-FirstCall via COMTEX/ --
Medical Services International Inc. announced today that it has been awarded a US$25 million contract from the Federal Government of Nigeria for its VScan HIV 1&2 Test Kits.
The Government of Nigeria recently issued a tender notice for eligible companies to submit proposals to supply its health sector with HIV test kits. This procurement contract was an upshot of the $120 million loan recently awarded to Nigeria from the World Bank for improvement of the Country's Health, Educational and Agricultural Sectors. Of the $120 million, 25 million has been allocated for the supply of HIV/AIDS test kits. The fact that the VScan HIV test kit was recently awarded full NAFDAC registration and approval in Nigeria was instrumental in Medical Services receiving this contract.
In the last 45 days Medical Services has been awarded contracts in China and Nigeria for its VScan HIV test kits totaling $50.5 million. Coupled with the potential additional contracts currently being negotiated for in China -- with an estimated value of $3.5 million -- and those anticipated contracts in China for the Company's other VScan test kits, Medical Services is looking forward to significant growth and its strongest fiscal year by far in 2005-2006.
About VScan
The VScan rapid test kit is a single use, easy to use, test for the screening of HIV 1&2, Hepatitis B&C, Tuberculosis (TB), Dengue Fever, West Nile, Syphilis and Prostate Cancer. The kits cannot be sold in Canada.
Medical Services International Inc trades in the United States on the NQB Pinksheets under the symbol "MSITF".
NOTE: Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions, risk in product development, market acceptance of new products and continuing product demand, level of competition and other factors described in Company reports and other filings with regulatory bodies.
SOURCE Medical Services International Inc.
Investor Relations in the U.S., Equitilink LLC, 1-877-788-1940, or Robert Talbot, +1-780-430-6363, Bill Whitehead Jr., +1-416-822-5883, both of Medical Services International Inc. http://www.prnewswire.com
Copyright (C) 2005 PR Newswire. All rights reserved.
-------------------- Someday you must travel down the road you leave behind. Posts: 69 | From: IDAHO | Registered: Dec 2004
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-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual. Posts: 2201 | From: Tampa | Registered: Nov 2004
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posted
It will run today and usally does on this type of news. I have played this one on and off trying to catch these runs. They only last a day or two then they drop back to where it started. If you play this, one since you can not get real time quotes, be sure to set a sell price. Make it reasonable because if you miss it you will be left holding as it drops back down. Someday they will come of the pinks and it should be a great company. Until then be careful.....
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual. Posts: 2201 | From: Tampa | Registered: Nov 2004
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-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual. Posts: 2201 | From: Tampa | Registered: Nov 2004
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posted
am I missing something??? This thing jumps before open and now its dead??? This was great news!
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual. Posts: 2201 | From: Tampa | Registered: Nov 2004
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posted
Weird action with this stock - some games are being played. How many pinks that announce $25 million in new contracts following on previously announced contracts for $25 million see virtually no price movement.
If the 2.1 billion share count is accurate (from another board), the current market value of the entire company is about $8.4 million - absurdly low for a company with products, approvals and contracts that it has. What is up???
I am fruastrated that the PPS is not higher, and that I don't have any more cash to buy more shares at these prices. Trying to be patient for the day when the market can no longer ignore the value of this company.
-------------------- laughing is therapeutic Posts: 71 | From: springfield, MA, USA | Registered: Mar 2004
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posted
Everytime I want to jump back in I wait cause there's no real time transaction on this one and the CEO, like I,ve said before, doesnt think it's a priority. I will go huge when they change that.
As for PINK making profit and staying inthe subpenny area, look at ITGJ...20M$ + contracts and still very low on low volume which should proves they are not diluting...why they are not up...beats me.
posted
I called Equitilink to ask some questions - got a few answers:
* what is MSITF's ownership percentage of Minerva? Ans: 60% as of 3/8/05
* When MSITF annouces a contract, who is the contracting party - MSITF or Minerva? Ans. Haven't seen the actual contracts, but believes it is MSITF. Will confirm this later.
* What is the contractual vehicle that gives MSITF access to the VScan technology that will enable it to fulfill its contract obligations to provide rapid test kits pursuant to the contracts - an exclusive licensing agreement, or what? Ans. Don't know off hand but believe it must be something like an exclusive licensing agreement. Will confirm this later.
* The picture of the manufacturing facility in China shows Minerva's name over the front dest counter. What is the relationship between Minerva and the Chinese manufacturing facility and what is MSITF's relationship to the manufacturing facility? Ans: Please email the question to me so I can follow up accurately on this question, it is complex.
* Has an accountant been engaged to perform the 6/30/04 fiscal year end audit? Ans. Yes, an accountant has been engaged and the audit is in process. There have been some acounting issues over the last 12-18 months that have complicated the process but it is moving forward. The quarterly statements will be much easier to prepare and issue.
* What is the current outstanding share balance? Ans. As of 3/8/05, 2.187 billion outstanding and 1.180 billion float.
* What is the number of shares reserved for the exercise of options, other conversion commitments/contingencies? Ans. I don't know but will pass the question on to the client and try to have an answer for you as soon as possible.
No big surprises here. Reassuring to know that MSITF is the contractual party to the test kit contracts (they own the contracts); good to have the 60% ownership of Minerva confirmed again; good to have the share balances confirmed again; good to know an accountant is actually working on the financial statements.
GLTA longs
-------------------- laughing is therapeutic Posts: 71 | From: springfield, MA, USA | Registered: Mar 2004
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posted
More News today - it just keeps getting better.
Medical Services Expands Production Capacity to Meet Increased Demand April 14, 2005 06:00:00 AM ET
EDMONTON, Alberta, April 14 /PRNewswire-FirstCall/ -- Medical Services International Inc. (Pinksheets: MSITF) announced today that it has taken the necessary steps to increase its production capacity worldwide to 50,000 VScan test kits per day. This increased production capacity will enable Medical Services to: fulfill contractual requirements related to the Company's existing contracts with the People's Republic of China and the Government of Nigeria (combined estimated value of US$50.5 million); satisfy other contracts currently being negotiated the PRC (estimated value of $4.0 million); as well as be prepared for additional contracts as they become available.
Medical Services owns and operates production facilities in Shanghai, Nigeria, India, New Jersey and on the island of Anguilla, B.W.I. in the Caribbean. All of these facilities were designed and setup utilizing modular construction. As sales of the Company's test kits increase, production can be increased in each individual facility by affixing additional modules. The Company has produced and provided each facility with technical manuals that explain how to expand modularly without interrupting existing production.
All test kit production facilities, which operate to United States "GMP" standards and work to an ISO rating of ISO9001, are controlled by Medical Services, and each is operated either by the Company or one of its subsidiaries. The only exception is M&A Concepts Ltd of Nigeria, which operates through a joint venture agreement. Medical Services owns 60% of its subsidiary Minerva Biotech Corporation (http://www.minerva-biotech.com), which operates the facility in Shang Hai, China. In all cases the actual VScan test kit is manufactured exclusively by and for, and can only be purchased from, Medical Services International Inc.
About VScan
The VScan rapid test kit is a single use, disposable, accurate, cost effective, easy to use, test for the screening of HIV 1&2, Hepatitis B&C, Tuberculosis (TB), Dengue Fever, West Nile, Syphilis and Prostate Cancer. The kits cannot be sold in Canada.
Medical Services International Inc. trades in the United States on the NQB Pinksheets under the symbol "MSITF". For further information, please contact Robert Talbot at (780) 430 6363 or Bill Whitehead Jr. at (416) 822 5883 or http://www.medicalservicesintl.com .
NOTE: Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions, risk in product development, market acceptance of new products and continuing product demand, level of competition and other factors described in Company reports and other filings with regulatory bodies.
U.S. Investor Relations: Equitlink LLC 877-788-1940 toll-free
IMO it is just a matter of time before this stock goes up, way up.
GLTA longs
-------------------- laughing is therapeutic Posts: 71 | From: springfield, MA, USA | Registered: Mar 2004
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quote:Originally posted by andrewAAB: am I missing something??? This thing jumps before open and now its dead??? This was great news!
No you are not missing anything. This is how this stock acts. They have annouced hundreds of millions in new contracts over the last year but the PPS never moves up more than a few ticks then returns or lowers within a day or two. I have been following this closely for over a year now and have held large positions in the past. I currently do not hold because it just does not move like you think it should. I would love for this stock to publish some audited finacials(which they say are coming) and get off the pinks. If they are in fact doing what they are saying they should be worth a much higher PPS. If you could get realtime info it would be a great stock to swing. As it is you put in a bid, hope to fill it and then put in a sell price and hope it makes it there. Look at the charts for just the last 3 months and you will see that everytime news comes out it may go up but then comes back down lower. the over all trend is lower through the last year so it was not a good long hold last year. Went from .01 to about .003 average. I thought with the need for their product and the low cost of it that it should just take off. Trust me I keep an eye on it and I have it on my alerts but that is it for now, real time info would change that in heart beat. I would play it everyday then. Good luck.
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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posted
The following is an exerpt from MSITF's 3/23/05 press release:
1. Chinese officials have granted the Company a contract to supply 10 Chinese Provinces with 3.6 million VScan HIV 1&2 test kits per year, for the next three years. This contract has a total value of US$25.5 million, based on an assessment of the contract performed by an independent accounting firm. In addition, the assessment also revealed that Medical Services would realize $4,331,000 in gross profit per year from the sale of those 3.6 million kits.
As you can see, the company actually projects $4.3 million of gross profit on the 3.6 million of kit sales => $2.36 in gross revenues per kit and $1.20 in gross profit per kit. If the company manufactures only on weekdays (weekends off and a few days thrown in for holidays), that leaves about 250 production days or about 12.5 million kits per year. At $1.20 gross profit => $15 million in gross profit to cover selling, general and administrative expenses. That leaves a lot of room to bring net profit to the bottom line. If we make a guess of $5 million in expenses - then MSITF shows a $10 million pre-tax profit or about $.0047 per share. That's higher than the stock price today!!! Do I think there is room for this stock to go higher?? YES!!!
GLTA longs
-------------------- laughing is therapeutic Posts: 71 | From: springfield, MA, USA | Registered: Mar 2004
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posted
Posted on another board - interesting confirming prospective:
Posted by: shrlkhms In reply to: laughingotter0 who wrote msg# 563 Date:4/14/2005 6:31:10 PM Post #of 564
P/E
PE is calculated on net rather then gross earnings so if MS has gross earnings of .0047/share you could guess that the net should be around .004 worst case (they should have a ton of write-offs).
(Todays close .0033) /(.004 net earnings/share) = a PE of 0.825. Nasdaq.com places the industy average at a PE of 18.5. (18.5 x .0033)/.825 = 0.074 per share as a fair valuation when MS reports gross earnings of .0047/share.
Nothing speaks louder then confirmed orders. It looks like more are on the way.
sherlock holms
GLTA longs
-------------------- laughing is therapeutic Posts: 71 | From: springfield, MA, USA | Registered: Mar 2004
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Medical Services Completes Additional TB Testing TUESDAY, APRIL 19, 2005 6:00 AM - PR Newswire
MSITF 0.0029 -0.0003
Enter Symbol:
Enter Keyword:
EDMONTON, Alberta, April 19, 2005 /PRNewswire-FirstCall via COMTEX/ -- Medical Services International Inc. (Pinksheets: MSITF) wishes to announce that it participated in a TB testing program with a major hospital in China. The test results showed that the VScan TB test had an overall accuracy of greater than 90% with no false positives. Nearly nine million people develop TB disease every year. The vast majority of them live in developing countries where 99% of all TB deaths occur and where 90% of all people living with HIV/Aids live. TB is the number one killer of people with HIV/AIDS. Medical Services is committed to developing a simple test for TB that results in almost instant results and can be used by individuals who do not have necessary health care training and that are far away from laboratory facilities.
Market studies in China show that there is a market for greater than 5,000,000 TB test kits per year. All of the developed countries where individuals are applying for immigration status require a TB test. Current testing available for TB testing is only 40% accurate. The Company feels that there is a significant market for a rapid TB test kit that has the accuracy of the VScan TB test kit.
About VScan
The VScan test kit is a single use, test for the screening of HIV 1&2, Hepatitis B&C, Tuberculosis (TB), Dengue Fever, West Nile, Syphilis, Malaria and Prostate Cancer. The kits cannot be sold in Canada.
Medical Services International Inc trades in the United States on the NQB Pinksheets under the symbol "MSITF". For further information, please contact Robert Talbot at (780) 430 6363 or Bill Whitehead Jr. at (416) 822 5883 or http://www.medicalservicesintl.com .
NOTE: Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially.
Such risks, uncertainties and other factors include but are limited to new economic conditions, risk in product development, market acceptance of new products and continuing product demand, level of competition and other factors described in Company reports and other filings with regulatory authorities.
SOURCE Medical Services International Inc.
while the record is that good news like this will probably mean the stock will go down today - in the long run, this is another step forward in the company's becoming a powerhouse in the rapid test kit market worldwide - IMO>
GLTA longs
-------------------- laughing is therapeutic Posts: 71 | From: springfield, MA, USA | Registered: Mar 2004
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