MDM medical monitors limited


  1. 356 Posts.
    It still does'nt tell us at what price the placement was done at........+++++++++++++++++++++++++does anyone know please?

    Medical Monitors Limited (the "Company") responds to the various
    questions raised in your letter of 1 May 2002, with reference to the
    Company's Quarterly Report to 31 March 2002, in the form of Appendix

    1. The Company's cash position at the end of the quarter was within
    expectation for the quarter, as this included payments for the
    manufacture of new stock that will contribute to future sales
    revenue. In addition, we confirm that the monies raised from the
    placement and from the anticipated sale of mining assets, as
    previously stated, will provide sufficient working capital to fund
    the Company's operations. The Company is aware of its cash flow
    commitments and will be able to meet those commitments.

    2. The Company expects to have negative operating cash flows for the
    next quarter, but anticipates that it will have a positive cash flow
    in the third quarter of 2002. The Company expects increasing revenues
    from the business in the USA and the UK, with the added benefit of
    reduced per unit production costs as increased sales drive up
    production numbers.

    These factors, and the cash flow contributions from matters referred
    to in points 1 and 3, will provide the Company with sufficient funds
    to continue its operations.

    3. It should be noted that a number of anticipated sales were only
    booked late in the quarter, with the resultant delay in actual cash
    received falling into the next quarter. The normal expenses, as set
    out in the Appendix 4C, were in line with expectation for the

    4. The Company confirms its continuing compliance with the ASX
    Listing Rules and, in particular, Listing Rule 3.1.

    5. The Company considers that its financial position (including
    operating results) continues to satisfy Listing Rule 12.2.

    A Shell

    MORE TO FOLLOW......................................................
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Currently unlisted public company.

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