GENEX PHARMACEUTICAL (GENX)

[DigiTech]

GENX update (repost from VMC Board)

Reporting is not a high priority for them. Not that I don't tell them that it should be quite often. So much I can do.

Not sure when we will get it but I can tell you that they are working on it. They have a hard time parting with their money to pay the accountants. My expectation is that they will catch up soon but no date.

The good news is that sales are going very well apparently. They have a large amount of new customers and the dental business is increasing.

The other good news is that the new building is on schedule.I received a rendering, it looks impressive. The shell of the building was completed when I visited them last time. I will post the picture as soon as I figure out how.
Production will come on line in October and the expectation is still to increase production by 5 to 10X in Q1 2008. They claim they have the sales for the expanded production. This could mean 5 to 8c earnings for Q1 or Q2 2008. Not bad for a 16c stock.

Patience will be rewarded on this one. Warning, you need a lot of it but it is the nicest speculative stock I know of.

Remember that VMC'er have 30% of the float.

BG