Replies to post #17537 on Paradigm Medical Industries Inc. (PDMI)

[johnjhao]

There won't be any FDA, Davis is busy dumping 20 billion AS in next one month, then next RS at 0.0001 when this goes bidless in a month

He has to worry about selling shares, who cares about FDA

[stervc]

Gainmaker (& All), with the pending FDA approval...

I have had a little success in the past with contacting Steve Davis and hopefully I will eventually reach him again. From what I can see from how PDMID is currently trading, it just does not appear to be selling from the company although I have no way of knowing for sure.

Courtesy of Mac2009, it was mentioned and as I do recall reading the update on the PDMI/PDMID website that the Emergo Group are the ones responsible for the FDA Approval submission for PDMI:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59236299

Courtesy of jram116 below, from Investopedia, the definition of a ”Chill” is explained:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59236938
http://www.investopedia.com/terms/c/chill.asp

From the definition above, maybe… just maybe there were some shares that were cancelled due to some kind of conflict with the DTC. This is something new to me over the years that I have been investing so I have no finite answers. Maybe this has something to do with the disparity in the current Outstanding Shares (OS) of 5,192,519 shares updated on pink sheets as of Feb 3, 2011 as indicated below:

http://www.otcmarkets.com/stock/PDMID/company-info


We know that from the previous report filed before the reverse split that the OS was 11,358,962,494 shares:
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=40709

We know too that PDMI/PDMID was listed for executing a 1 for 100 reverse split as announced by the company and officially indicated below:
http://www.paradigm-medical.com/Library/Shareholders%20ltr%20020311.pdf
http://otcbb.com/asp/dividend.asp?sym_id=PDMI&dDate=2/3/2011&sDateType=ex_date

This means that the OS should officially be 113,589,625 shares (rounded up). So the question is why is the ”official” OS for PDMI/PDMID currently reported to be 5,192,519 shares? There could be a good chance that a huge block of shares had gotten cancelled for a variety of reasons to include maybe something dealing with the thoughts posted above. I think the company will either make the correction on pink sheets or explain why the huge decrease in the OS. Either way, I think the share structure is solid and still, much is dependent upon the company obtaining FDA approval.

With their FDA approval submission, the Emergo Group as mentioned above is the group that is responsible for the FDA approval that has already been submitted. Check their website out below:
http://www.emergogroup.com/


Here are a few testimonials of the work achieved by the Emergo Group:
http://www.emergogroup.com/testimonials

From reading below from the FDA website, we see that they have had some success before with obtaining approval:
http://google2.fda.gov/search?q=Emergo+Group+&x=8&y=7&client=FDAgov&site=FDAgov&lr=&proxystylesheet=FDAgov&output=xml_no_dtd&getfields=*

Although I am not sure of the future of whether or not PDMI/PDMID will be getting FDA approval or not, I do feel comfortable in knowing that they really are trying to move in the right direction just by whom their affiliation is with. Below is some earlier info I previously posted a while back.

As you can see from the PR below, CSO is the Italian company that PDMI has the Distribution Agreement with to market the Retimax (the US name to market the Retimax will be the ParaMax):
http://www.tradingmarkets.com/.site/news/Stock%20News/2275199/

To further speak about CSO:
http://www.biospace.com/news_story.aspx?NewsEntityId=135279
…CSO is an international leader for manufacturers of ophthalmic instruments with high technology solutions, great reliability and safety for users. The aptitude to the technology research, the reliability and the efficiency of the productive process, the highly trained staff, the high quality level of products and the maximum care for customer safety summarizes the production philosophy of CSO and the root of its long success becoming a leader in the international ophthalmic instruments market. CSO Quality System is certified in accordance with the ISO 9001 and ISO 13485 standard.

CSO being certified in accordance with ISO 9001 and ISO 13485 standards is huge in my opinion and further substantiates the validity of CSO for being a legit company. CSO’s website has been updated below:
http://www.csophthalmic.com/english/english.html

There is lots of information on Google to elaborate much more about the ISO 9001 and ISO 13485 standards, but here’s a little bit more that stood out to me as some explanations:

http://en.wikipedia.org/wiki/ISO_13485
ISO 13485 is an ISO standard, published in 2003, that represents the requirements for a comprehensive management system for the design and manufacture of medical devices [1]. This standard supersedes earlier documents such as EN 46001 and EN 46002 (both 1997), the ISO 13485 published in 1996 and ISO 13488(also 1996).
While it remains a stand-alone document, ISO 13485 is generally harmonized with ISO 9001. A fundamental difference, however, is that ISO 9001 requires the organization to demonstrate continuous improvement, whereas ISO 13485 requires only that they demonstrate the quality system is implemented and maintained.
http://en.wikipedia.org/wiki/ISO_9001
ISO 9000 is a family of standards for quality management systems. ISO 9000 is maintained by ISO, the International Organization for Standardization and is administered by accreditation and certification bodies. The rules are updated, as the requirements motivate changes over time.

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v/r
Sterling