Keeping tab of financials for July 2003 to June 2004: Read carefully and calculate for yourself and laugh if you feel the need to:
October 7, 2003
EDMONTON, Alberta, Sept. 30 -- Medical Services International is pleased to announce that it has received a letter of intent to supply 250000 VScan HIV rapid Test kits to a major Chinese pharmaceutical Company in the People's Republic of China. Shipment of the VScan™ rapid test kits for HIV to the Republic of China will start immediately.
October 9, 2003
EDMONTON, Alberta, October 9 -- Medical Services International is pleased to announce that it has received a letter of intent from a major Chinese Health Management Organization (HMO) representing 16 hospitals in 6 provinces in the People's Republic of China, to supply an initial order of 1,000,000 VScan HIV rapid test kits. After delivery of the initial order of 1,000,000 kits the Company has been informed that there could be additional orders of up to 3,000,000 kits from this HMO.
November 4, 2003
EDMONTON, Alberta, November 4, 2003 -- Medical Services International Inc. is pleased to announce that it has sold VScan test kits worth $268,000 U.S. in the first quarter (period ending September 30, 2003) of its current fiscal year. This figure compares favorably with the previously announced first quarter sales forecasts for the test kits. Based on actual sales and commitments achieved so far in the second quarter, the Company is projecting that it will generate a minimum of $425,000 U.S. in sales in the second quarter.
As the Company continues with its independent testing program and receives approval to sell the VScan HIV test kit in different countries, and combined with its aggressive marketing program, it is projected that sales volumes for the VScan HIV test kits will increase substantially in the second half of its fiscal year. Based on the aggressive marketing and independent testing programs, the Company anticipates greatly accelerated sales forecasts in the second half of the current fiscal year.
December 18, 2003
EDMONTON, Canada, December 18, 2003 -- Medical Services International Inc. is pleased to announce that it has increased its distribution network by adding a further 31 new distributors. The
new distributors must purchase a minimum of 1,000,000 Vscan test kits in 2004 in order to maintain their distributorships.
February 9, 2004
EDMONTON, Canada, February 9, 2004 -- Medical Services International Inc. is pleased to announce that it will ship in excess of 40,000 VScan HIV test kits in February, 2004. Based on current orders the Company anticipates shipping 110,000 test kits in March, 2004. The Company is now projecting that it will ship an additional 1,300,000 VScan test kits throughout the remainder of 2004.
As the Company continues to get approvals in different parts of the world, the number of test kits sold in 2004 could easily exceed 2,000,000.
March 31, 2004
EDMONTON, Canada, March 31, 2004 -- Medical Services International Inc. is pleased to announce that its VScan HIV 1&2 rapid test kits will now be carried OTC (Over the Counter) in drugstores in Hong Kong. Our Hong Kong Distributor working with Medical Services staff has signed an agreement to supply a chain of pharmaceutical dispensaries the VScan HIV 1&2 rapid test kits for OTC (Over the Counter) sales. Kerry Associates of the United States were helpful in supplying the initial contacts that resulted in this contract. In conjunction with the placement of the test kits there will be an active marketing program that will be beneficial to all parties. The first order was shipped to Hong Kong on March 25, 2004. Based on the market studies and the current demand for a rapid test kit for HIV in China, it is reasonable to expect that in the first year the company will ship in excess of 200,000 kits related to this entry into the OTC market in Southeast Asia.
April 26, 2004
EDMONTON, Canada, April 26, 2004 --
For the six months ending December 31, 2003 revenue was $384,987, down from $663,610. Revenue in the previous six months ending December 31, 2002 included an accrual for revenue that was ultimately written off. Without the accrual the revenue for December 31, 2002 would have been $388,610. This reduction in revenue is a result of a change in accounting policy whereby no revenue is recognized until payment is actually received.
The Company anticipates a significant revenue increase from the sale of VScan test kits in the second half of the year.
May 18, 2004
EDMONTON, Canada, May 18, 2004 -- Medical Services International Inc. (Pinksheets: MSITF) is pleased to announce that it has received an order for the VScan HIV 1&2 test kits from Xinjiang Province in Northwest China. As a result of the testing program for the VScan test kits in China which met and exceeded National Standards for HIV test kits and based on recommendations of officials in Beijing, the province of Xinjiang has placed an initial order for 20,000 VScan test kits so that it can begin the testing program previously announced by the People's Republic of China.
June 1, 2004
EDMONTON, Canada, June 1, 2004 -- Medical Services International Inc. (Pinksheets: MSITF) is pleased to announce that it has received its first order for the VScan Tuberculosis (TB) rapid test kit from a prominent pharmaceutical company that produces Tuberculosis vaccines. The kits will be used immediately in conjunction with their testing and treatment programs that have been set up in India. The Company is offering a complete program that includes testing and treatment of TB in their own facilities situated throughout India. The requirements for the VScan TB test kit could be as high as 50,000 kits in the initial program.
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