Guys be careful not to get over excited. Victhom as 2 divisions:
Bionic division: Victhom completly sold its contract to Ossur and let go all its staff. Most of them got hired by Ossur. The only thing left on that division is the royalties. As you can see not alot of revenues on that side yet. Ossur head office is in Isceland and it had huge liquidity issues when the crisis started and the banks in Iceland and Iceland itself had to be bailled out. This explains most of the delay in launching the power knee officially. Commercial launch will bring some small revenue but we are still many months from that. No more R&D revenue on the bionic division since it is pretty much non existent. So only thing left is royalties. Yes nobody doubts that the power knee product will have huge sucess once launched but that doesn't mean alot of revenues to Victhom.
Neurostream division: As per their last update they encoutered a major problem that is delaying their goal and can jeopardize their joint venture:
As of September 30, 2010, even though Neurostream had not achieved a milestone that was due
on May 1, 2010, Otto Bock has continued funding Neurostream’s operations on a voluntary basis.
The outcome of this situation is dependent on a number of factors that are not entirely under the
Company’s control. As a result, there is uncertainty as to whether the Company’s joint venture
will have the ability to continue as a going concern.
Even so, the unaudited interim consolidated financial statements ended on September 30, 2010 do
not reflect any adjustments that might be necessary if Neurostream is not successful in achieving
the partnership milestones and in obtaining its required financing from its joint venture partner.
Such adjustments could be material and could have a significant adverse effect on the Company’s
unaudited interim consolidated financial statements
Here is the full article: https://www.victhom.com/docs/news/138.VHB_PR_Q3-2010_2010-11-29_EN.pdf
I had bought a small amount at an average price of
.045. It was like flipping a coin. Either I loose everything or I make good money. If Neurostream goals are finally achieve then everything is well and the 44% part owned by Victhom + the power knee royalties could be worth $10M. However at this point with the info we know nothing is warranteed. I sold today with over 100% gain. I wish the best to Victhom but I had to lock in those gains. I have made good money with them in the past and will buy back if news come out or if it drops back in the
.045 range.
Be careful to understand what you are buying. Again this could go up over
.50 really quickly if Neurostream finally unblocks but it can also go to
if Ottobock pulls the plug. Speak to all those owners of the convertible debt that had to sacrifice a big chunk of their value when the Ottobock deal was done and Victhom was avoided bankthrupcy less than 2 years ago and when the 10:1 reverse split happened. Great products, nice staff, many high profile funds behind Victhom BUT they constantly underdelivered and had bad contracts that ended up bringing the SP from $12 to
.10. Most people lost money. And all that great technology developed here was sold for peanuts.
GLTA