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G'day Atmarket,


What makes you think it takes at most 2 weeks to go from bulk to finished product.


Assuming Galenopharm closed for 2 weeks over xmas/ny then it could take as long as 4 weeks, given time from mid dec to early feb when the Russian update was provided and initial distribution announced.


Cheers Charles

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Is no one concerned that the report states there cash flow is at "going concern" basis? I know its been thrashed out on this thread over the past few months but it is now in writing from the company and to me that is of great concern. It also appears (and Im not 100% sure) but the sales that were announced for the licence have been included in the half yearly meaning they need further sales to stay solvent in this quarter.

No offence to any posters here but their is no way the share price can be heading north with the half yearly. March 10 is the day that can change that.

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Those comments were from the auditors which is a standard format when there is a finite timing between cash reserves and historic cashflow.

The true picture should emerge from reported sales when they make their indicated announcement on 10/03.

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Hi @ all,

I really don't want to be negative but as stated in Note 3 the 608.000$ "receipt from customers" for Polyprenols transferred to Galenopharm will only be payed when the finished Ropren would be sold. So the good looking number of 1M$ income means nothing, everything will still depend on the sales really made.

Let's hope these are happening right now and 10th of March will be a good day for all of us ;)


regards, Trav

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You are not being negative - they are the facts.


Thats why its important whenever looking at financial statements you look at the cashflow report in addition to the income statement.


The income statement is based on accrual accounting, whereas the cash flow report is a representation of the cash movement in and out of the company.

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They transferred the product to be processed on the 15 Dec


They were expecting sales to comence before XMAS


Assuming (Valid assumption?) that they needed this product for the initial stocking then that is <10 days between sending bulk off and getting finished product back


Maybe I am incorrect and stock for launch was already on hand?

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