posted
Paradigm Medical Industries, Inc. (OTCBB: PMED.OB), the leader in glaucoma diagnostic and management devices, today announced it has completed the funding of $1 million through a group of institutional investors, headed by NIR Group (New York). A significant portion of the proceeds will be used to fund the introduction, marketing and distribution of new ophthalmic instruments and systems the Company plans to launch during the first half of 2008. "We will also use proceeds to grow our domestic sales force, to increase direct and distributor sales force training, and to increase inventories," said Paradigm Medical's Chief Executive Officer, Raymond Cannefax. "Marketing our redesigned LD 400 Visual Fields and Blood Flow Analyzer(TM) (BFA) products and introducing new devices and systems into the ophthalmic market is one of our primary areas of focus in 2008." Mr. Cannefax noted the Company already is filling a significant order for LD 400s for one of the largest optical chains in the United Kingdom, and has written commitments for additional LD 400 Perimeters from the same chain. "We had a threefold increase in our sales organization in late 2007 and will have a presence in additional metropolitan areas. The new funding will allow us to introduce new and updated diagnostic products and have a trained and highly competent sales force to market and distribute them in 2008," Mr. Cannefax added. The funding involves the purchase of $1,000,000 in secured convertible notes by the investing group. The notes are to be purchased in traunches, with the first traunche of $250,000 and then monthly traunches of $100,000 each until a total of $1,000,000 in notes have been purchased. Paradigm Medical received the first $250,000 upon the signing of definitive agreements on December 24, 2007. The Company also is required to issue warrants to the noteholders to purchase a total of 15,000,000 shares of common stock at an exercise price of $0.001 per share. Under the terms of the notes, the unpaid principal balance on the notes, together with accrued interest at 8% per annum, is due in three years from the date of issuance. The notes are also convertible by the noteholders at any time into shares of common stock. The conversion price of the notes is equal to the lesser of (i) $0.02 and (ii) the average of the lowest intra-day trading prices during the 20 trading days immediately prior to the conversion date discounted by 50%.
Posts: 1442 | From: Lugano - Switzerland | Registered: Sep 2003
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posted
More PRs about sale numbers expected during the next few weeks. Hold your shares tight for more good news.
*** From Ihub:
Posted by: bucksmypup In reply to: Neocheeseater who wrote msg# 2079 Date:1/2/2008 3:26:07 PM Post #of 2081
1st reading the financing is not the greatest but then again thinking about it. 2 million in sells and they can pay it off. they have stated they now have about a 50% profit margin. The total of the last order is about 600k with annual sales of about 5 million. This is just the beginning folks and its not terrible toxic. We will be fine and we now have a line of credit for 1 million. Looking very good. Here comes .01st05 maybe even .01 1st quarter. JMHO
Posts: 3228 | From: Michigan | Registered: Aug 2005
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posted
This company is doing what real companies do. Borrow money to get their product information out and then sell their product. I have found that the two best times to market your product is when: you are busy and when you are not busy. I like PMED.
-------------------- It is what it is Posts: 196 | From: Tampa, FL | Registered: Mar 2006
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posted
From IHub: ***** Posted by: bucksmypup In reply to: FastEddie777 who wrote msg# 2098 Date:1/2/2008 4:39:31 PM Post #of 2100
I honestly believe there is more news coming. NO one expected this. I think we still will get delivery news, then hopefully additional sales. They are increasing inventories presently and adding sales people. This is just the beginning. This stock is easily going to .01 this year. JMHO
Posts: 3228 | From: Michigan | Registered: Aug 2005
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-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
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posted
Yep sure looks like it.... Anyway I play pinkies rarely these days.... When stocks like SOLF, ASTI, LDK MELI etc give better returns...
Posts: 1134 | Registered: Apr 2003
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posted
I expect more consolidation and more shakes, but eventually the pps will be much higher because the MMs want that way so they can unload their shares. This will happen when PMED release more sale numbers. In the mean time set your targets at different levels. Give the MMs 4 weeks to play.
Posts: 3228 | From: Michigan | Registered: Aug 2005
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posted
Some investing company has taken the risk of 1 M$ for PMED. So just gamble 200 with a potential pay off of 5X to 10X. This is a good gamble. I expect more PRs and sale contracts in the next two weeks. To win the game, you need to get in early and never chase the run.
**** From Ihub - about the new 8K:
Posted by: fillinggood In reply to: None Date:1/7/2008 9:32:03 AM Post #of 2197
What's good is what is implied in the stipulations IMHO. The financiers are limited to the amount of shares they can obtain by note conversion to under 5% of the company's outstanding shares, so as the stock price would rise, they could not accumulate a number of cheaper shares that would result in company ownership thru stock. this protects the company and us in our pps. Also, they now have prepayment stipulations on the loan which means that PMED feels they will have a good enough sales and profits to pay loans off early. This is all good news for the company and us IMHO.
Posts: 3228 | From: Michigan | Registered: Aug 2005
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posted
ahhh...wait for me PMED!! can i get some .002's? lol
-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
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quote:Originally posted by a surfer: Got in this morning Jim!
Thanks for the heads up.
Great job, Surfer. But do expect some shakes, as the pps jumped too fast. MMs will take the pps to much higher levels to unload their shares.
Most shares are in the strong hands now. The pps went up 35% with a volume of 8 M shares.
Posts: 3228 | From: Michigan | Registered: Aug 2005
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-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
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