As we approach the end of 2005 I am delighted to report that your company has now transformed from the research and development stage to the commercial stage. The final $10m of funding required prior to expected positive cash flow was invested during the fourth quarter.
I am also pleased to announce that we have received formal approval from the American Exchange for the listing of Medicsight Inc’s stock. The new ticker symbol will be MGT and we have planned a major investor relations road show during the first quarter of 2006. This road show will prepare your company for institutional investment and should therefore increase the liquidity of your shares.
We have also set up a new medical portal called “Medicexchange” which will enable the distribution of Medicsight plc’s products via a web based solution on line. Many other companies approached us at the recent radiology convention with a view to us hosting their products on our portal. This will attract significant new revenues to the company and could, possibly, be floated off separately in the future.
We anticipate there being a major change in the approach towards diagnostic software and, in turn, this will increase the value and demand for CAD solutions as non invasive screening is introduced by various developed countries.
Your company continues to invest heavily in securing large quantities of gold standard clinical data on a global basis. We are the first Western company to access cancer data from the National Cancer Institutes of both China and Japan and our software has now been accepted for a major European and American study for colorectal cancer.
I enclose a brief update which I hope you will find of interest and also refer you to our new website (www.medicsight.com).
All the above means that your company will be revenue producing in 2006.
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