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Repro-Med Systems (REPR)

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Last Post: 6/13/2018 10:59:31 AM - Followers: 75 - Board type: Free - Posts Today: 0

Overview
Repro-Med Systems, Inc. (dba RMS Medical Products) engages in the design, manufacture, and marketing of proprietary medical devices primarily for emergency medical applications and ambulatory infusion therapy. It offers the FREEDOM60, an infusion system that enables administration of primary immune deficiency by injecting immune globulin under the skin for the home health care industry and patient emergency transportation. The company's FREEDOM60 is also used for treating thalissemia with the drug desferal; for pain control, primarily post-operative epidural pain administration; and for chemotherapy in Europe. Repro-Med also manufactures the FREEDOM60-FM, which contains an electronic flow monitor system that provides occlusion and end of infusion alarm for nursing homes, hospitals, and pediatric ambulatory applications; and the RES-Q-VAC Emergency Airway Suction System, a hand-operated suction device that removes fluids from a patient's airway by attaching the RES-Q-VAC pump to various proprietary sterile and non-sterile single-use catheters sized for adult and pediatric suctioning. In addition, the company offers DENTAL-EVAC for emergency back up suction during a procedure to oral surgeons; and RES-Q-VAC for military situations, such as exposure to chemical weapons of mass destruction. Repro-Med sells its products directly, as well as through a network of domestic and international distributors, and medical device distributors.

Web Site
http://www.repro-med.com

Main Products


Historical Financials
 

Quarter    Q1'07(May)    Q2'07(Aug)    Q3'07(Nov)    Q4'07(Feb)     Q1'08(May)    Q2'08(Aug)    Q3'08(Nov)    Q4'08(Feb)    Q1'09(May)   Q2'09(Aug)
Revenue $347,725 $416,009 $457,991 $512,855 $397,417 $605,946 $620,879 $723,436 $699,976 $936,495
Net Income -$207,314 -$89,149 -$67,695 $29,389 -$178,520 $54,367 $61,359 $55,292 $64,784 $275,529


Press Releases
06/11/2007 Higher Medicare Reimbursment for Freedom60 Syringe Infusion Pump -http://investorshub.advfn.com/boards/read_msg.asp?message_id=28776642
08/22/2007 Medicare Clarification Reimbursing the Freedom60 with Subcutaneous Immune Globulin - http://investorshub.advfn.com/boards/read_msg.asp?message_id=28776847

WallSt.net Interview - Required Listening
http://www.wallst.net/audio/audio.php?ticker=REPR&id=3552
some tidbits from the interview:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=29134839

Investment Thesis
1. The company has been hiring like crazy since the middle of last year. This rapid hiring indicates that business is going quite well. Also, I believe that much of this growth has yet to hit the bottom line. As of Feb 2007 they had 17 employees which makes the evidence in the links below look quite bullish.

Picture of hiring sign on building - http://investorshub.advfn.com/boards/read_msg.asp?message_id=24616830
Local DD of international expansion and radio advertising - http://investorshub.advfn.com/boards/read_msg.asp?message_id=28793219
Currently available positions - http://www.rmsmedicalproducts.com/Careers.htm
Bookkeeper / Purchasing Associate 4/24/08 - http://investorshub.advfn.com/boards/read_msg.asp?message_id=28778524
Customer coordinator posting 10/02/07 - http://ragingbull.quote.com/mboard/boards.cgi?board=REPR&read=198
Assembler hiring posting 08/30/07 - http://ragingbull.quote.com/mboard/boards.cgi?board=REPR&read=194
Assembler hiring posting 7/24/07 - http://ragingbull.quote.com/mboard/boards.cgi?board=REPR&read=190

2. Freedom60 sales have been growing rapidly and I believe will continue to grow rapidly. Here is why:
a. The Freedom60 pump is the most popular pump used for subcutaneous administration of immunoglobulin (SCIG) according to my conversation with CSL Behring who is the maker of the drug used for SCIG. I also verified this with a nurse. The Freedom60 pump is also the least expensive.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28854506
b. Vivaglobin® is the first and only immunoglobulin FDA-approved for subcutaneous administration (SCIG). Vivaglobin sales are increasing rapidly according to CSL's financial report.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28777209
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28775119
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28838950
c. The Freedom60 is the only device approved by Medicare for in-home SCIG treatment. This point was just clarified in August of last year. Also, Medicare reimbursement for the Freedom60 was increased 20 fold in June of 2007.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28776642
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28776847
d. The FREEDOM60 is superior to other pumps for SCIG. Here is what the company says about this in the 10-K: "We have surmised and have recently confirmed anecdotally that the Freedom60 system because of its constant safe pressure design is the ideal technology to infuse this medication regardless of cost. IgG is quite viscous, and the Freedom60 appears to adjust automatically to patient tissue saturation, preventing complications at the administration sites which include pain, swelling, redness and possible tissue damage. Competitive electronic devices, which are also used for this indication, can deliver higher and quite possibly harmful pressures, and will reach occlusion pressures, which will frequently cause the electronic pumps to shut down prior to completing the drug delivery."
e. The most pervasive treatment for Primary Immunity Deficiency right now is IVIG (intravenous). People are switching to SCIG because:
- It is more convenient.
- It costs less.
- There are less adverse reactions.
- Because treatment is generally done weekly instead of monthly the immunity level remains more constant which should help keep the patient more healthy.
f. The company made bullish statements about growing Freedom60 sales in the last 10-Q.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28781222
g. According to the immune deficiency organization (www.primaryimmune.org) there are more SGIG drugs that are going through trials right now. This should further increase demand for SCIG treatment and Freedom60 sales.

3. They have high gross margins. Last quarter they were 64%. This means that any additional sales rapidly increase earnings.

4. They get a big recurring revenue stream from each Freedom60 that they sell. Annual sales for supplies for the Freedom60 cost on average $252/unit. The list price for the Freedom60 is $399. The revenue information that they put in the 10-K regarding disposable sales indicates that they are thinking big. See the following post for more info:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28775289

5. Growing medical businesses are recession proof. I really like businesses like that right now.



More headquarters pics: http://investorshub.advfn.com/boards/read_msg.asp?message_id=24616830 (11 total)

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REPR News: Statement of Changes in Beneficial Ownership (4) 05/31/2018 04:29:26 PM
REPR News: Statement of Changes in Beneficial Ownership (4) 05/25/2018 04:47:28 PM
REPR News: Statement of Changes in Beneficial Ownership (4) 05/11/2018 05:32:52 PM
REPR News: Current Report Filing (8-k) 05/10/2018 05:13:06 PM
REPR News: Quarterly Report (10-q) 05/07/2018 08:36:31 AM
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PostSubject
#2168   A small court victory. bigpike 06/13/18 10:59:30 AM
#2167   mrholty - My guess is Manko is buying blue_skies 06/11/18 09:16:00 AM
#2166   My thoughts exactly. mrholty 06/11/18 08:17:46 AM
#2165   big - thanks blue_skies 06/10/18 07:38:51 PM
#2164   RMS listed here. bigpike 06/09/18 11:08:43 PM
#2163   Any thoughts of today's action? blue_skies 06/08/18 04:33:45 PM
#2162   mrholty - this quarter is free of legal blue_skies 06/05/18 04:49:08 PM
#2161   to hit $0.02/share you need almost $1.0 in mrholty 06/05/18 04:36:05 PM
#2160   Mr Manko has put his reputation on the blue_skies 06/05/18 04:24:12 PM
#2159   My last comment is that Joseph Manko our mrholty 06/05/18 04:16:07 PM
#2158   I have. No decent response to questions mrholty 06/05/18 03:53:58 PM
#2157   mrholty below is the contact info given blue_skies 06/05/18 03:30:34 PM
#2156   I know. Their current sales make up mrholty 06/05/18 03:09:11 PM
#2155   Slides 4-6 address the TAM, or total addressable bigpike 06/05/18 03:07:01 PM
#2154   Agreed on all that you said but I mrholty 06/05/18 03:06:42 PM
#2153   mrholty As I see it, the slides are blue_skies 06/05/18 01:50:43 PM
#2152   I would agree that they didn't connect. mrholty 06/05/18 01:04:51 PM
#2151   The lack of any volume following the presentation blue_skies 06/05/18 12:41:36 PM
#2150   goldbergers presentation -june 4 blue_skies 06/04/18 03:37:12 PM
#2149   new director, Daniel Goldberger, making a presentation at blue_skies 05/31/18 08:31:53 AM
#2148   look at the company presentation from the stockholders meeting. blue_skies 05/31/18 08:19:33 AM
#2147   vulcan - not many small investors judging by blue_skies 05/14/18 07:00:33 PM
#2146   Why in theworld would anyone want to buy TheHappyVulcan 05/12/18 09:57:22 AM
#2145   Good news on legal front, per 8k. bigpike 04/11/18 09:05:00 PM
#2144   Truckin' got my chips cashed in blue_skies 02/20/18 06:43:04 PM
#2143   Mike King is the owner of Princeton research blue_skies 02/15/18 01:22:08 PM
#2142   I don't know who Mike King is. mrholty 02/15/18 09:39:09 AM
#2141   There is someone on the buy side the blue_skies 02/14/18 03:54:43 PM
#2140   I do not like the format of the blue_skies 02/14/18 03:51:59 PM
#2139   absolutely agree on where and what the upside mrholty 02/14/18 03:38:30 PM
#2138   The non destructive testing, which was implemented in blue_skies 02/14/18 12:15:23 PM
#2137   agreed with most of what you said. blue_skies 02/14/18 11:52:52 AM
#2136   Revs were up 44% mrholty 02/14/18 10:55:07 AM
#2135   earnings announcement blue_skies 02/13/18 07:24:17 PM
#2134   Maybe they will not be owe taxes until blue_skies 01/11/18 05:30:59 PM
#2133   Now that I have looked at the filings, bigpike 01/09/18 08:59:02 PM
#2132   If you look at the filings carefully, those bigpike 01/04/18 02:18:40 PM
#2131   What I find peculiar is the number of blue_skies 01/04/18 11:54:13 AM
#2130   Wow.... Owned this stock for many years something erpy 12/31/17 07:34:53 PM
#2129   Good volume on a traditionally slow day with blue_skies 12/22/17 02:56:59 PM
#2128   https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12440634 shanak10 12/21/17 01:02:16 PM
#2127   The board of director member, Joe Manko of blue_skies 12/17/17 04:34:15 PM
#2126   Yes to both parts. blue_skies 12/12/17 08:40:54 AM
#2125   Blue, Do you see REPR as a buy out erpy 12/12/17 06:45:14 AM
#2124   REPR is introducing their infusion system to big blue_skies 12/11/17 10:04:11 AM
#2123   Your reaction was my initial reaction. blue_skies 12/08/17 06:01:21 PM
#2122   anytime an officer suddenly quits his post before budge 12/08/17 05:14:24 PM
#2121   I agree the departure does, at first glance blue_skies 12/08/17 04:24:20 PM
#2120   I agree the departure does, at first glance blue_skies 12/08/17 04:24:18 PM
#2119   https://ih.advfn.com/p.php?pid=nmona&article=76253982 More purchases, VERY IN erpy 12/07/17 07:45:14 PM
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