posted
somebody started another thread that said that PMED was "soaked in gasoline". Although we haven't seen a lot of movement today, this statement is true, at least in terms of the fact that this stock will definitely catch fire if and when this China news comes out. We've been holding strong around the .02 - .025 range since the news of Canadian approval of the P60 biomicroscope came out almost two weeks ago, with a low around .016 and a high around .031. Now that the stock has settled in the low .02's we are ready for a nice move to the next level. Predictions that would carry this to .10 and higher in the near future are not unrealistic.
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
no sooner did I speak than this thing start moving...looks like we're going to end on a nice high here...moving fast up to .027 +
Posts: 181 | Registered: Feb 2006
| IP: Logged |
SALT LAKE CITY, Mar 01, 2006 (BUSINESS WIRE) -- Paradigm Medical Industries, Inc. (OTCBB: PMED.OB/PMEDW.OB) today announced it has completed the sale of $1.5 million in secured convertible notes, through Laidlaw & Co. (UK) of New York City, and an institutional investor. The notes are to purchased by the investors in three traunches of $500,000 each. Paradigm Medical received the first traunche upon signing definitive investment agreements on February 28, 2006. The Company will receive the second traunche upon the filing of a registration statement with the Securities and Exchange Commission and the third traunche upon the effectiveness of the registration.
"Additional capital is needed at this point to provide the Company will adequate funds to expand global sales and marketing programs, especially for the P60 Ultrasound BioMicroscope," said Paradigm Medical's Chief Executive Officer, Raymond P.L. Cannefax. "Moreover, we will now have adequate funds to purchase additional inventory to satisfy expected strong customer demand for all of our products."
The notes are due three years after issuance and are secured by Paradigm Medical's assets, including inventory, accounts payable and intellectual property. The notes are convertible into shares of the Company's common stock at anytime during their term. The conversion price is equal to the lesser of (a) $0.02 per share or (b) the average of the lowest intra-day trading prices during the 20 trading days immediately prior to the conversion date discounted by 40%.
Interest on the notes is payable at 8% per year, payable quarterly in cash, with six-months of interest payable up front. The notes are callable, with prepayment allowed at any time that the price of Paradigm Medical's stock is $0.10 per share or less.
In addition, Paradigm Medical is required to issue warrants to the investors to acquire an aggregate of 12 million shares of the Company's common stock, at an exercise price of $0.10 per share. The warrants will have a five-year term from the date of issuance, with cashless exercise permitted in the event there is not an effective registration statement registering the warrants.
Paradigm Medical is required to register the shares of its common stock issuable upon the conversion of the notes and the exercise of the warrants. The registration statement must be filed with the SEC within 60 days of the February 28, 2006 closing date and the effectiveness of the registration is to be within 135 days of such closing date.
Paradigm Medical Industries, Inc., currently develops, manufactures and markets high-tech, proprietary diagnostic equipment and consumable products for the medical industry. The Company's corporate offices are located at 2355 South 1070 West, Salt Lake City, Utah 84119. Call (801) 977-8970 or visit us at www.paradigm-medical.com.
This press release contains statements that, if not verifiable historic fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Paradigm and its business. The predictions embodied in these statements will involve risk and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.
SOURCE: Paradigm Medical Industries, Inc.
Paradigm Medical Industries, Inc. Raymond P.L. Cannefax, CEO, 801-977-8970 Copyright Business Wire 2006
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
today supposed to be the run? i've been in for a few weeks, still deciding where to cap my profit... how far you guys lookin for the run? or is this .10 run the short term one compared to the .50 that was claimed for a few months
-------------------- double commas and climbing Posts: 285 | Registered: Jan 2006
| IP: Logged |
posted
my goal will depend on how fast this thing runs and how news pans out. Personally, I'd be pretty satisfied with .10, but I've read posts on other boards with goals of .13 - .20 +
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
my goal will depend on how fast this thing runs and how news pans out. Personally, I'd be pretty satisfied with .10, but I've read posts on other boards with goals of .13 - .20 +
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
To be honest, I'm a bit surprised that there hasn't been more of a positive reaction to the financing news. Obviously in order to increase their sales, they're going to need more capital. The fact that they sought financing tells me that they mean business about increasing their sales figures. And the fact that the investors are willing to give them such positive financing terms tells me that they also feel that PMED has what it takes to make the sales increase happen. Add that to the expansion of sales operations in China and you have a winning combination. Posts: 181 | Registered: Feb 2006
| IP: Logged |
just an observation, but it seems to always be a good sign when we're looking at only three decimal places instead of four (plus)...usually means less manipulation going on
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
chart is ugly today and yesterday. Seems like there is either some dilution going on (investors who provided the financing are already cashing in?), or some small-time investors got nervous and were scared off by the financing news. I'm still bullish on this stock though. Once they release any positive news on China we should be back over .03 and should head up from there. Seems to me that smart people should hang on to their stock or add on dips like these, IMHO.
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
anybody still holdin on? it took a dip on Friday and bounced back up to 0.019. I'm still holding, this company seems to have good potential. gryf, where are you? anybody else still in?
-------------------- double commas and climbing Posts: 285 | Registered: Jan 2006
| IP: Logged |
posted
Hey narbeh, glad to hear you're still hanging in there. I'm still here.
I still agree that the company has a lot of potential. But I think some people got nervous when the financing news came out instead of the China news that we were looking for. Now it looks like we are running in place or drifting in a downward direction here until we hear the next bit of positive news. I hope this isn't the case, but that's how it looks, based on the last few days.
At the same time, it wouldn't take a whole lot to get this fired up again. Looking at L2s, if we can get back over the hump quickly again at .02 then we only have a few bids in the middle .02s to sail past before we can get back into the .03s. I think that there are still plenty of people holding on to see what happens, and plenty of people who can still see this going to .04 + in a very short period of time. However, if dilution is in fact going on (difficult to tell right now), then the selling will have to be absorbed by an influx of new buyers. With volume down right now, we will need to see more new buyers coming on the scene to get where we want to be. That's why news is crucial here. Now that momentum has slowed down, we could really use a confidence booster soon. But if we get it, this could easily take off again in no time.
All in my opinion, of course.
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
well not a whole lot to cheer about, but the spread has tightened up in the last couple of hours and we have inched up a couple of millimeters at .0188...
I think we need to break .021 or so to get this thing signififantly moving again, though
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
bummer--down a tenth to .0184...darn that last few minutes! Still drifting downward
Based on the last few days, it does seem that there is a lot of bid support in the .015 - .016 range, so hopefully it won't go below that. And hopefully we will hear some positive news before we dip that low.
Posts: 181 | Registered: Feb 2006
| IP: Logged |
"Under the terms of the notes, the unpaid principal balance of notes, together with any accrued interest thereon, are due and payable three years after the date of issuance. The unpaid principal balance on the notes that were purchased on February 28, 2006 is due on February 28, 2009. Interest is payable on the notes at 8% per annum, payable quarterly in cash, with six months of interest payable up front. However, the interest rate resets to zero percent for any month in which the stock price is greater than 125% of the initial market price, or $.0275, for each trading date during that month."
I dunno, but this tells me that PMED is going to do everything that they can to keep the stock price over .0275, in order to avoid paying interest rate on the newly borrowed funds. If PMED does its job, then, that means that anybody who gets in at this price range should see a nice return on the investment. No?
The way I read this, if they put the money to good use and sell some units, we should them doing everything they can to get this back into the .03+ range that we saw, briefly, not too long ago. So maybe news will be issued sooner rather than later? Let's hope so!
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
With almost 90m of new shares throw in the market from now til June... may stay there for a while but don't really know how long. I still believe in the potential of PMED...
Posts: 1335 | Registered: Oct 2003
| IP: Logged |
posted
there's been some large buys here at around .0199 - .020 among the last few transactions. At 12:03 someone bought 400K shares, and there have been a number of other large buys this morning and yesterday afternoon. Somebody's loading up here...?
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
Yeah, I'm still with you and forrest, narbeh, but these end of the day sales are starting to worry me. Seems like a pattern has developed lately where a lot of shares are sold in the last fifteen minutes or so of the trading session. Huge chunks were sold today, right near the end. We're still hanging in here in the high .01's, with what looks like strong bid support. But the downward drift will probably continue until we hear something positive to counter the negative reaction to the financing news.
I'm still optimistic though. I'm hoping that this turns around real soon, and I know that it definitely can. I still think that a well-timed positive PR will give this a shot in the arm.
Posts: 181 | Registered: Feb 2006
| IP: Logged |
posted
yea im thinking people are draggin this down by bidding on it low... just so they can buy big later... i dont have L2 access so i cant post it, but just IMO, just a guess.... kind of like a domino effect... sounds crazy, but i noticed it with this stock's downward plunge last year (AGMG in january through february and march... in case you wanna do some research)...
anyways, I'm still in and holding... I'm not selling for a loss or a small gain, this is going for a strong gain sooner or later and i wanna stick around for it. I missed LFWK, because i got impatient after weeks of holding it at 0.0035... now its in the .03x range, and people are claiming a climb into the high 4 cent range tomorrow, and possibly spikin 5's.... definitely a KICK MYSELF moment... its not happening anymore
GO PMED!!!
-------------------- double commas and climbing Posts: 285 | Registered: Jan 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
![[Frown]](frown.gif)
