UNS - Unilife Corporation

[LeeTV]

Unifill Wows Healthcare Workers


Unifill Wows Healthcare Workers at APIC Conference
Recently Unilife (NASDAQ: UNIS) took its Unifill prefilled safety syringe to the APIC Conference in order to give the U.S. healthcare workers in attendance a sneak preview of this revolutionary device. Unilife was honored to have Dr. Mary Foley as its special guest at APIC. During the conference, Dr. Foley met with dozens of delegates from around the U.S., collecting their thoughts on the Unifill syringe and its potential benefits to healthcare workers and patients.

The feedback the Unifill received at APIC was overwhelmingly positive, and included more than just a few 'Wow!', 'Very Smooth', 'Awesome', 'Perfect' and 'Cool' reactions. Unilife set up a demonstration booth and recorded many of the healthcare professionals' reactions when they got to test the Unifill product themselves. To view a brief compellation of these responses, clicking on the image below or visiting www.unilife.com.



About APIC
The APIC Conference brought together healthcare workers and infection control specialists from across the U.S to discuss ways to enhance and save the lives of nurses, improve patient care and prevent disease. Unilife exhibited the Unifill syringe, the world's first and only prefilled syringe with fully passive (automatic) safety features integrated within the glass barrel, at the event. The Unifill syringe is strongly positioned to deliver optimal protection and intuitive use to healthcare workers and their patients that self-inject prescription medication at home. The Unifill syringe is now in production, and being supplied to interested pharmaceutical and biotechnology companies seeking to evaluate its use with their injectable drugs and vaccines.

About Dr. Foley
Dr. Foley is one of the world's foremost experts on healthcare worker safety. She is the Director at the Center for Nursing Research and Innovation at the University of California San Francisco (UCSF) School of Nursing. Last year, she received her PhD in nursing with her dissertation on the topic of needle-stick injuries and prevention policies. A registered nurse for more than 35 years, Dr Foley was one of the first healthcare workers to recognize the emerging HIV-AIDS epidemic during her work at Saint Francis Memorial Hospital in San Francisco in the 1980s. After helping to secure the passage of the first Statewide laws in the U.S. mandating the use safety medical devices in California, she played a key role in campaigning for the adoption of the Federal Needlestick Safety and Prevention Act. Elected President of the American Nursing Association (ANA) in 2000, she was in the Oval Office of the White House when President Bill Clinton enacted the Act into law. She continues to write and lecture about healthcare policy, improving the workplace, and promoting safe care for workers and patients nationally and internationally. Dr Foley has not received any financial payment from Unilife, and is an independent champion for enhancing injection safety practices in the U.S. and worldwide.

 

[Sean K]

Does future technology in the delivery of stuff mean that this piece of kit will become obsolete?

http://www.news.com.au/technology/s...r-with-nanopatch/story-fn5fsgyc-1226106754530

 

[El Bastardo]

Does future technology in the delivery of stuff mean that this piece of kit will become obsolete?

http://www.news.com.au/technology/s...r-with-nanopatch/story-fn5fsgyc-1226106754530

Kennas everything becomes obsolete. However, in your average hospital intravenous injections are the only current way for delivering antibiotics/adrenaline etc in sufficient quantities. Add to that blood tests, radiological exams etc and needles are going to be around for a while.

Patches, when proved cheap, safe and effective may be useful for vaccines and targeted pain relief. The patches may in turn become obsolete by the use of food as a method of delivering vaccines.

http://www.adelaidenow.com.au/news/...r-barry-marshall/story-e6frea83-1226083776673

 

[pacestick]

Kennas everything becomes obsolete. However, in your average hospital intravenous injections are the only current way for delivering antibiotics/adrenaline etc in sufficient quantities. Add to that blood tests, radiological exams etc and needles are going to be around for a while.

Patches, when proved cheap, safe and effective may be useful for vaccines and targeted pain relief. The patches may in turn become obsolete by the use of food as a method of delivering vaccines.

http://www.adelaidenow.com.au/news/...r-barry-marshall/story-e6frea83-1226083776673

The oral one has been done before I along with many in my generation were innoculated against polio by having the vaccine dropped on our tounge It was never expanded beyond that one vaccine as far as I know I was told but can not verify that the problem was the various chemicals in our stomach beat up the vaccines before they became effective
Patches may become of limited used due to inability to control exact amounts for release at exact times this eliminates them at this stage for all but vaccine work and even this may have a decade or two before they are a commercial reality. If you think the path of getting a medical device to market is long and tortuous it is nothing to when there is the actual drug involved With tests on trial patients and surveys of results going on for years before approval is given and as patches and oral both involve the use of drugs in a way that is innovative as opposed to improving syringes that give measured doses in a known manner

 

[pacestick]

Presentation by CEO

http://www.wsw.com/webcast/rrshq20/unis/
you will need to register its free

 

[pacestick]

Unilife Corporation ("Unilife" or the "Company") (NASDAQ: UNIS; ASX: UNS) today announced it has been awarded a two-year contract by Premier Purchasing Partners, L.P., the group purchasing enterprise of the Premier healthcare alliance, for the supply of its Unitract ® 1mL safety syringes.

Premier, Inc. is the nation's largest healthcare alliance, helping to improve performance and providing group contracting to more than 2,500 U.S. hospitals and over 76,000 healthcare sites nationwide.

Mr. Alan Shortall, CEO of Unilife said: "Our Unitract 1mL safety syringes, which are designed for use when drawing medication from a vial or ampoule, can provide optimal protection to healthcare workers and others at risk of infection from needlestick injuries. Unitract represents the first and only known range of insulin and tuberculin syringes with automatic, operator-controlled needle retraction features that are fully integrated within the syringe.

"We are delighted to have signed our first Group Purchasing Organization (GPO) contract with Premier for the sale of our Unitract 1mL syringes to U.S. healthcare facilities. In addition to being one of the largest GPOs in the U.S., Premier is also a leading national advocate for injection safety. Despite the widespread conversion of U.S. healthcare facilities to the mandatory use of needlestick prevention products, healthcare workers continue to remain at risk of harm from many types of conventional safety syringe technologies. We look forward to supporting Premier and its members to enhance the level of protection offered to U.S. healthcare workers."

For additional Unitract inquiries, please visit www.unitract.com, or contact Unilife at info@unitract.com or the Unitract customer service department toll free number: +1 888 698 1133. Premier members seeking to purchase Unitract 1mL syringes are encouraged to quote contract number SD-NS-007.

 

[Sean K]

I've resisted digging up the history of UNS, but after reading their annual financial report I can not resist any longer.

This article warrants reading by anyone considering trusting this company and the management.

Shooting up on hype
January 17, 2004

Look sharp . . . Alan Shortall says his company, Unitract, is targeting a global market of $7 billion for its 'one-use' needles.

The chief executive has a chequered past. The biggest shareholder is elusive. Ben Hills investigates a company that claims it has found the Holy Grail.

Based on this 10c worth of plastic and metal, Shortall and his co-directors have built one of the hottest companies in the biotech sector, Unitract. Since listing more than a year ago the group's share price has rocketed 1000 per cent - giving it a capitalisation of around $200 million and putting it in the top 300 Australian companies. Its meteoric rise has prompted several queries from the Australian Stock Exchange.

By the end of March, he promises, 65 million of the retractable hypodermics will begin pouring off an imported assembly line in a sterile room at a factory at St Mary's in Sydney's west at the rate of two a second, and Unitract will be on its way to saving millions of lives around the world.

The hype from Shortall and his team for the past year, at closed-door presentations to investors and brokers and in media interviews,....

Investors have been told that the global market for syringes that Unitract is targeting is worth $7 billion a year,.....

The company has also received generous taxpayer funding - $240,000 from the Federal Government's Biotechnology Innovation Fund and $195,000 from two state government funds.

But Unitract has been less keen to highlight the hurdles it still faces in Australia,....

Shortall has been associated with three companies - one of them a listed high-tech company - which are now defunct.

Nor has the Herald been able to interview an elusive major investor who uses an address in London and who owns a quarter of the stock - worth some $42 million - through a company that is not registered in Australia or the UK.

Unitract's annual report tells the fairytale story of the invention of the syringe by two Hunter Valley tool and die makers, Craig Thorley and his boss at Argo Engineering in Morpeth, Joe Kaal....

Thorley did confirm, however, that he and Kaal had spent five years developing the prototype syringe - in between making parts for motor-boat gearboxes at Argo Engineering on $500 a week.

"I have slaved my backside off, and now I am living the dream," Thorley says. "It's all going to happen."

Savvy stockmarket operators, however, have not been as enthusiastic....

A Melbourne analyst was also unimpressed by a presentation where Shortall extolled the virtues of Unitract's product compared with rival syringes he brought back from a conference in Phnom Penh, Cambodia.

"He's unusual-looking, bald as a billiard-ball, a big man who presents well - perhaps too well ...."

Shortall says Unitract has patents in the US and Australia. But the syringe does not yet have approval from the Therapeutic Goods Administration (TGA) in Canberra, essential before it can be sold. Shortall says such approval can be granted only after manufacture actually begins....

Then there is the issue of Shortall's business background.

Thorley says he did not check his partner's past, and that he contacted Shortall for help in commercialising his invention through his involvement in a charity called the Mankind Project (MKP).

Shortall concedes that this is not a registered charity, but a men's organisation which he supports, "the essence of which is around supporting men in the community, around integrity, accountability, love, compassion and congruence".

Shortall refuses to go into any more detail, but MKP's US website says it runs "New Warrior weekends" at which, for $US600 ($780), men can become "initiated", discovering "highly focused aggressive energy that empowers and shapes the inner masculine self . . . the New Warrior is at once tough and loving, wild and gentle, fierce and tolerant".

Unusually for a chief executive these days - when even the office boy seems to have an MBA - Shortall has no tertiary qualification....

Perth was also where, according to Australian Securities and Investments Commission records, he set up one of three defunct companies with which he has been associated, ....

His name first appears in West Australian papers two years later, this time in connection with a much more ambitious enterprise - Formulab Neuronetics....

In fact Formulab was the invention of Adelaide-born long-haired eccentric and self-styled genius Anthony Richter. Like Unitract, it was backdoor listed on the ASX in 1995, claiming to have a revolutionary new invention.

There the comparisons end. Richter's invention was far more complicated than a humble syringe. He claimed his "Richter Paradigm" was a "thinking computer" -.....

Richter's big mistake was taking the "brain in a shoebox," as it was dubbed, to the US. When he demonstrated it to American investors, they ridiculed the gadget and the share price collapsed to 67c.....

Shortall says he was hired to get the company listed on the Nasdaq high-tech board in the US, which he did. Despite being quoted as company spokesman in the media, and being employed as Richter's "executive assistant", he says he only worked for Formulab for seven months,....

Nevertheless, within three years of leaving Formulab, Shortall was in charge of a third company, this time from his new base on Queensland's Gold Coast. The company, Sigma Global Pty Ltd, sold "investment analysis software," which Shortall reluctantly explains was designed to help people pick winners at horse races.

Asked whether his involvement in these three companies constituted an "exceptional track record" and "successful marketing", as claimed in his corporate CV, Shortall says: "I think you are being very unfair. I think you are being extremely unfair."

Since Unitract was floated, Shortall has been leading a ritzy lifestyle, occupying a mansion in beachside Tamarama which rents for $14,000 a month, has two Mercedes cars and a Bentley (which he says is for sale),....

His annual pay of $396,726 in cash and share options is paid to Underline International Pty Ltd, a company that provides Shortall's services to Unitract. Shortall says he receives only "about $15,000 a month" from Underline, which leaves the company more than $200,000 a year in front.

Shortall owns only four of the 100 shares in Underline, with 95 shares being held by a Unitract investor called Roger Williamson who gives a London address...

Why this convoluted arrangement? Shortall offers no explanation beyond saying that "there's nothing dodgy or sinister about it". He says Williamson pays the rent on the house because he sometimes stays there when he is visiting Australia.

But the Unitract board believes all this is insufficient reward for Shortall's talents. At the company's recent annual meeting they intended to propose the issue of 8.5 million options to Shortall over the next 2 years,....

All up, he would get 12.5 million shares for nothing but his hard work, making him the company's second biggest shareholder with a stake worth around $27 million - more than the entire amount Unitract has raised since it floated....

With additional research by Emiliya Mychasuk in London.

This article is heavily edited to fit in the space and you should read it by hitting the title. Nothing has been added, just deletions.

What ever happened to Unitract in Australia?

Maybe he gets it right this time??

 

[Sean K]

This guy has more skeletons than Scooby Do's closet.

Who is Roger Williamson?

http://www.moneyorders.com.au/money...-unilife-boss-to-pay-back-loan-plus-a-margin/
Sydney Morning Herald
Saturday December 16, 2006

Ben Hills

ALAN SHORTALL, the chief executive of struggling publicly listed high-tech wannabe Unilife Medical Solutions, has been ordered to pay more than $500,000 to his former de facto wife.

A Supreme Court judge on Friday found that Mr Shortall owed Louise White, a Byron Bay receptionist, the money after she lent him $47,000 which he promised to secure against shares in the company - but later reneged on the agreement.

In his judgement, Justice Joseph Campbell said he did not accept Mr Shortall's evidence on a number of points.

Justice Campbell said there were "many unusual and unexplained features of the relationship" between Mr Shortall and Unilife's biggest shareholder, the elusive Roger Williamson.

Mr Shortall, a shaven-headed 52-year-old Irishman and racehorse owner who has headed Unilife (formerly Unitract) since it floated four years ago, lived with Ms White and her two children by a previous marriage in a beachside house at Byron Bay between 1999 and 2003.

She lent him the $47,000 in various amounts and Mr Shortall promised to secure them against 220,000 Unilife shares.

"You are a rich woman," he allegedly told her, after the shares soared through the $2 mark shortly after listing.

However, when Ms White asked him to transfer the shares to her, Mr Shortall refused, claiming they were subject to an "escrow" which prevented him from selling or transferring them.

In the meantime, the share price collapsed after Unilife repeatedly missed deadlines to manufacture a disposable syringe.

On Friday shares in the company closed at 23c.

According to the company's latest annual return, Mr Shortall earns $372,000 a year and has been issued with 6.5 million shares and 7 million options in the company.

In earlier evidence, Ms White's barristers, Kevin Ryan and Paul Castley, suggested that "Roger Williamson", a mysterious British investor who is Unilife's largest shareholder with 10 million shares through a company called Merkaba Ltd, was in fact "an alias or nom de plume" for Mr Shortall, and that the shares were in fact controlled by Mr Shortall.

Over the years "Roger Williamson" has made several million dollars selling down his shareholding, and has transferred substantial amounts to Underline International Pty Ltd, a company controlled by Mr Shortall.

A bank statement produced in court showed that in 2004 alone "Williamson" transferred more than $700,000 to Mr Shortall's company.

While Justice Campbell made no findings about these allegations - which Mr Shortall denied on oath - he did say that "one possible explanation of the evidence might be that Mr Williamson or Merkaba Ltd holds some shares in [Unilife] on trust for the defendant [Shortall]."

Justice Campbell ordered Mr Shortall to pay Ms White $548,452, based on the price she might have got for the shares if she had been able to sell them before they tanked.

 

[Sean K]

In the interests of some opaque transparency of Mr Shortall:

That's quite a shot in the arm
REFLUX SCOTT ROCHFORT
October 31, 2008

The retractable syringe powerhouse Unilife Medical Solutions has again raised the bar in setting standards in corporate governance.

Unilife has rejigged its remuneration package, first announced in July, to "continue to motivate [the] outstanding ongoing efforts" of its chief executive, Alan Shortall.

 

[Sean K]

I really want to know who this mystery man is in London. The same man who was granted about 3.6m shares in UNS in 2010 by the 'Founding Members' due to the company reaching some performance hurdles. They were that the company had to make a net profit of $6m or so. Hang on???

Just one last one for laughs.

Speedo needle's damage done as Shortall jailed
By Scott Rochfort
June 24, 2005

The Bentley Continental GT is a sophisticated piece of automotive engineering. So much so, even the safety-conscious retractable needle tycoon Alan Shortall could not tell he was clocking 231 kilometres an hour down the Federal Highway to Canberra.

At least, that was his defence in Goulburn Local Court this week where he was handed a six-month jail sentence.

But while he may lose his liberty - he is on bail appealing against the sentence - it appears unlikely he will lose his job.

Non-executive chairman David Riekie and two fellow directors said in a statement to the stock exchange that while they were "extremely disappointed with the outcome of the case", they had decided not to sack Mr Shortall.

"The board is of view that Mr Shortall's actions are of a personal nature and do not relate to his actions as CEO of Unilife, nor do they affect his ability to fully and properly discharge his duties as CEO of Unilife."

The Canberra Times reported that Mr Shortall's lawyer had argued in court "the special features of the 2004 Bentley Continental GT, which his client was trialling, were mitigating factors in Shortall's culpability, even if that was difficult to accept".

"If ever a motor vehicle was designed to be driven at speed, even though unlawfully, with the greatest respect, it's this motor vehicle," Mr Walsh reportedly told the court.

Unilife spokesman Chris Savage said Mr Shortall was unavailable for comment. "He's spoken to nobody and he's not going to speak to nobody," he said.

Asked if the law prohibited people with criminal convictions serving as directors, Mr Savage said: "I have no idea about that. Are you sure that's the law?

"There's no restrictions with the bail whatsoever. So they don't see anything in his current situation that prohibits him from performing his role fully.

"Harry M. Miller went to jail, surely he's now director of the company he owns or something like that," Mr Savage said.

He said the Bentley was Mr Shortall's personal car. "He has these assets that have nothing to do with his role," Mr Savage said.

The company, whose share price has tumbled from $3.10 to 57c in two years, has yet to sell a syringe. This is despite originally promising to have a facility open by early last year. It now says it will start selling syringes by early next year.

"Unilife believes its Unitract product is unique and is well advanced," Mr Savage said.

"It's fair to say that they are on the cusp of exploding and doing extremely extremely well or they are going to run out of money. It's one or the other over the next two or three years.

"There is a race on globally in this retractable and safety syringe market and Unilife are extremely upbeat about the next 160 days."

It appears that Mr Shortall, a serial speeding offender, has trouble keeping his eye on the Bentleys's speedo needle.

 

[chb]

hrmmm...

does not sound good at all. Sounds very shifty by the CEO.

Might exit, I got in around 80c and then more at 1.20 but it's been nothing but downhill since, part of that is the general market but I guess the other part is that nothing is happening. All these contracts to allow them to sell the syringes but nothing firmed for awhile now.

 

[squelch99]

For balance I'd suggest any potential or existing investors in unilife look at what has been achieved in the last three years:
The relocation to the united states, the construction of a world class manufacturing facility, the expansion of the management team including ex BD senior management, 2 top ten pharmas with unifil in ageing trials and another with a clinical trial of a new device beginning at the end of the year.

Unifil volume sales agreements will occur within the next 6 months.

Everything in the medical industry takes time and unilife is very close to a significant rerating.

 

[El Bastardo]

Sounds like mr shortall and williamsons talents are wasted on UNS. On a positive note AED and TZL are looking for quality directors.

 

[Sean K]

No one should exit or buy on information here, but DYOR.

I only became skeptical of safety syringe companies after watching a friend lose his shirt on Ritract. Initially I thought it was the same mob but when I did some simple searching I realised that it was not, but uncovered the rest of the publicly available information.

In the interest of balance I thought everyone should see what success management have previously had. And, perhaps why I thought the $11m pay day was a bit rich for a MD who had taken the company from nothing, to debt.

No one should accept market announcements without drilling into them and understanding what they fundamentally mean. I'm not sure if anyone actually does with UNS.

 

[Sean K]

Do followers know what these anns actually mean?

Have they actually sold anything or just signed contracts with the potential sale later?

The one in July is curious. No mention of the company still and no mention of volume of sales etc in the end of year financial report.

October 5, 2011

Unilife Wins Supply Contract with Nation's Largest Healthcare Alliance
Premier Selects Unitract ® 1mL Safety Syringes for Two-Year Contract

YORK, P.A., Oct. 5, 2011 /PRNewswire/ -- Unilife Corporation ("Unilife" or the "Company") (NASDAQ: UNIS; ASX: UNS) today announced it has been awarded a two-year contract by Premier Purchasing Partners, L.P., the group purchasing enterprise of the Premier healthcare alliance, for the supply of its Unitract ® 1mL safety syringes.

Premier, Inc. is the nation's largest healthcare alliance, helping to improve performance and providing group contracting to more than 2,500 U.S. hospitals and over 76,000 healthcare sites nationwide.

July 19, 2011

Unilife Starts Unifill Syringe Sales to Another Pharmaceutical Customer
YORK, Pa., July 19, 2011 /PRNewswire/ --

Unilife Corporation ("Unilife" or the "Company") (NASDAQ: UNIS; ASX: UNS) today announced it has commenced the initial sale of the Unifill ® ready-to-fill syringe to a U.S.-based global pharmaceutical company.

The commencement of Unifill sales to this new customer, whose identity remains confidential at this time, follows the initial shipment of the device to Sanofi last week. Unilife continues to expand its customer pipeline as an increasing number of pharmaceutical companies seek access to Unifill for the delivery of their prefilled injectable drugs.

Unilife expects this new U.S.-based pharmaceutical customer to conduct drug compatibility and stability tests with their injectable drugs in combination with Unifill as per standard industry practices for drug-device combination products. The resulting data is then filed to regulatory agencies as a final step before approval.

 

[Sean K]

Seems I've scared off the UNS bandwagon by asking questions ..

Now, next on the dodgy deals agenda is the capital raising. For some time they've been saying that they're doing great, wonderful, sales full steam ahead and then they go to the market for a pile of cash. Can anyone explain the nature of this raising?

Also, the underwriting announcement? Jefferies and Co now own 8% of the company. Alan seems to have quite a stake in Jefferies. Like most of it. huh?

UNILIFE CORPORATION ANNOUNCES PRICING OF OFFERING OF 8,250,000 SHARES OF COMMON STOCK

York, PA, November 17, 2011- Unilife Corporation (NASDAQ: UNIS / ASX: UNS) (“Unilife” or the “Company”) today announced the pricing of its underwritten registered public offering of 8,250,000 shares of common stock at a public offering price of $4.35 per share. All of the shares in the offering are to be sold by Unilife. In connection with the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 1,237,500 shares of common stock to cover over-allotments, if any.

The net proceeds of the offering to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $33,808,125, exclusive of any proceeds attributable to the underwriters’ possible exercise of their over-allotment option. Unilife expects to use the net proceeds from this offering to fund the continued development and commercial supply of its diversified portfolio of advanced drug delivery systems, the expansion of its workforce to support anticipated customer demands, and for working capital and other general corporate purposes. The offering is expected to close on November 21, 2011 and is subject to customary closing conditions.

Jefferies have bought 4,995,364 of the 8,250,000 sold. huh? The underwriter has bought over half the raising and Alan has bought 4,028,768 shares as part of Jerreries.

Sounds like they've done this raising to hire extra people 'just in case' they actually sell any of their bits and to keep paying their current exorbitant management salaries.

Just what was the 'underwriters discount'? 21c a share. On top of the discount at the last sale price in the US. I can only find that the stock was trading at $4.75, the offer was at $4.35 and then they got 0.21c off that as well.

So, if Alan has bought 4,028,768 shares @ $4.14 = $16.7m ish. HUH? Where did he get the money to do that?

They claim that they started to 'supply' their syringes in July 2011.

We commenced initial production and supply of the Unifill syringe to Sanofi and one other U.S. based pharmaceutical company in July 2011.

What does this mean? Have they 'sold' anything yet?

Do they have any accounts recording sales at all?

 

[J&M]

Seems I've scared off the UNS bandwagon by asking questions ..

Now, next on the dodgy deals agenda is the capital raising. For some time they've been saying that they're doing great, wonderful, sales full steam ahead and then they go to the market for a pile of cash. Can anyone explain the nature of this raising?

Also, the underwriting announcement? Jefferies and Co now own 8% of the company. Alan seems to have quite a stake in Jefferies. Like most of it. huh?

Jefferies have bought 4,995,364 of the 8,250,000 sold. huh? The underwriter has bought over half the raising and Alan has bought 4,028,768 shares as part of Jerreries.

Sounds like they've done this raising to hire extra people 'just in case' they actually sell any of their bits and to keep paying their current exorbitant management salaries.

Just what was the 'underwriters discount'? 21c a share. On top of the discount at the last sale price in the US. I can only find that the stock was trading at $4.75, the offer was at $4.35 and then they got 0.21c off that as well.

So, if Alan has bought 4,028,768 shares @ $4.14 = $16.7m ish. HUH? Where did he get the money to do that?

They claim that they started to 'supply' their syringes in July 2011.
What does this mean? Have they 'sold' anything yet?

Do they have any accounts recording sales at all?

Got out of this a few weeks ago
This was or should have been a big seller with the new syringes
However I have not to date seen any concrete news of a sell of any syringes to anyone
Thanks Kennas for all the informative posts

 

[Sean K]

Does anyone know why Alan got 1.9m in shares approved issued at the last AGM?

Some of the other senior staff got 45k, but he got quite a bit more.

Must be in relation to performance hurdles through the year. Where are they?

And are these issued at the Australian price or US price? $0.62 in Oz, $4.5 in US. That's a big bonus once again for not actually making any money. In fact still losing millions every year and only in the black because of raising capital.

Very confused if they have sold anything still.

 

[Sean K]

Does anyone know why Alan got 1.9m in shares approved issued at the last AGM?

I dug into this and it was mentioned in the pre pre-AGM meetings that shareholders had to agree to certain things that resulted in the issue of shares. I tried to look through the detail in the fine print but really couldn't find where he had succeeded in achieving the performance hurdles.

Can any one else quote why he was issued these shares?

One interesting thing regarding the remuneration of Directors is the benchmarking that was conducted by the 'independent' consultants. The other 15 or so companies had MCs of 200m or so with quite significant cash flow. UNS has a MC of about the same with negative cash flow. That is, the only money they are getting in is via cap raisings, grants and tax losses. They are not only earning NOTHING from sales, but losing from every direction.

Just what happened to this significant announcement?

November 29, 2011
Unilife Signs Clinical Development and Supply Agreement with Global Pharmaceutical Company

YORK, Pa., Nov. 29, 2011 /PRNewswire/ -- Unilife Corporation (NASDAQ: UNIS; ASX: UNS) today announced the signing of a clinical development and supply agreement with a global pharmaceutical company for a novel device for targeted organ delivery. The proprietary Unilife device is intended to be used in a drug clinical trial that is scheduled to commence in early 2012.

The terms of the agreement and the pharmaceutical company are to remain confidential at this time. Unilife will receive $1.4 million in development fees and revenue from initial unit sales of the devices for the clinical trial under the first phase of this program. Upcoming phases of the clinical development program are expected to generate additional revenues for Unilife over the coming year.

This is starting to look exactly the same as Alan's previous business ventures. Stating supply agreements yet not actually selling anything.

Note that UNS only receives cash from sales. The supply means nothing. And, how much from eventual 'sales'. I imagine a pittance.

Until I see a sale with incoming cash I can not see how they are going to remain afloat.

This company seems doomed from all available facts.

 

[Sean K]

I dug into this and it was mentioned in the pre pre-AGM meetings that shareholders had to agree to certain things that resulted in the issue of shares. I tried to look through the detail in the fine print but really couldn't find where he had succeeded in achieving the performance hurdles.

Can any one else quote why he was issued these shares?

One interesting thing regarding the remuneration of Directors is the benchmarking that was conducted by the 'independent' consultants. The other 15 or so companies had MCs of 200m or so with quite significant cash flow. UNS has a MC of about the same with negative cash flow. That is, the only money they are getting in is via cap raisings, grants and tax losses. They are not only earning NOTHING from sales, but losing from every direction.

Just what happened to this significant announcement?

Alan's shares were issued to him a could of days ago. $550K worth for meeting his performance hurdles which were basically 'do your job'. I find it quite troubling that a company not making any money with zero sales can give it's managers such heafty base salaries and then these huge incentive bonus'. His salary is about $400K I think so he's earning about $1m. Incredible.