I will answer my own question, since I did finally get to hear the full recording. I have to type this quickly and get back to work but here is a quick recap of the highlights from the questions and answers:
1) The one you are all most interested in came last and wasn't an especially positive answer: the uplist is still proceeding with JGBO responding to the comments on their application. Elsa says it is going well and they expect approval by "beginning of the year" which I believe means Jan or Feb. (or at least I hope no later than that)
2) Income tax appears to be high because they can't deduct non-cash expenses nor can they deduct any US-based expenses.
3) Says they didn't revise full year estimates in spite of better than normal 1st qtr results because they are planning a couple major advertising efforts this year and that will increase the Admin expenses in those quarters. However, said it is possible they will recoup those expenses and continue to surpass expectations.
4) Possible further price cuts on their oldest drugs but expect it won't affect bottom line since any price cuts should be offset by increased volume.
5) Discontinuing pursuit of one of the drugs licensed from Shangdong University (LFAA?) but going after a different Class I drug instead -- announcement to follow in a few weeks.
6) Continuing to pursue strategic acquisition but based on current progress, may not happen in fiscal 2010.
7) The drug that has been in the pipeline the longest and is closest to approval should still be approved this fiscal year but perhaps not as soon as their latest forecast which I believe was by December.
The biggest positive about the call for me was that just about every question came from an investment analyst (Brean Murray, Pope Investments and 2 other companies I didn't catch) rather than individual investors so this says they are starting to get more attention in the institutional investment community.
We will see if anything else newsworthy comes out of tomorrow's conference but it clearly won't be an uplist announcement, much to my great regret.
Still, with that cash position, maybe it will attract some institutional investors prior to the uplist, although I think most won't touch OTC stocks.
GLTA!
Eric
