Exercise price is at 70cts, not 52cts. Your claim of BIG profitable by late 2009 is misleading again. FY2009 ends at 31/03/2009 and end 2009 is already near the end of FY2010. In the very first month of FY2009, BIG already booked profit of US$8m. BIG could have booked the full US$40m this quarter since the US$40m cash will be received this month. BIG is practising very conservative accounting practice. Im sure Jade's Antony Soh would love to book his US$1B coal mining profits net profit immediately for revaluation gain but unfortunately he cannot. BIG placed out shares for acquisition of China JWMS and PT Fondaco only. But these acquisition targets are profit generating subsidiaries and BIG do such share swaps deals for business strategic reasons as well. Nobody can fault BIG on such acquisitions like JWMS. Employee share options granted are less than 2% outstanding shares over the past year and so many listed companies have many share options also. Many companies renumerate/motivate their key personnel to perform well by granting them shre options and such practice has been around for years already. 

television Joined: 23 Apr 2008 Posts: 42

Posted: Thu May 01, 2008 10:53 am    Post subject: i M A NEWBIE NOTICE big listed since 2005 ipo about 70cts but till todate so many placement out and so many share options granted and co sill losing $$$.no future liao even write all the beautiful rept can't move this stock. Ang must have a lot of interest in this losing $$$ stock.Hope it will shoot up for the many investors who have lost $$$ on this BIG .Can pple here share thier losses and gains or BIG here..I think >losers than winners,hope I'm wrong

television Joined: 23 Apr 2008 Posts: 42

Posted: Wed Apr 23, 2008 6:56 pm    Post subject: Sinostar at 32cts worth collecting Any advice? or collect Biosensor better someone in sharejunction say it may hit $1.40 by june

Happyday/787180/Television, when will you stop slandering me? I have already given my full analysis on LEADERS trial "chiong factor" and a few weeks ago already pushed backed my TP of $1.40 to early Nov 2008 after the Oct TCT2008 announcement of LEADERS trial. Are you sure you are so new and "virgin" to forums?  Come out lah Happyday/787180/etc (duno why your name keep changing), don't need to hide behind your Television set lah.     If you have bad points to say about BIG, just say it. But must be backed be facts and good analysis. Don't need resort to slandering again.

Employee share options are common renumeration to motivate employees to work even harder to to improve the bottomline (profit) and thus in return, improving company's share price.

I mentioned before that BIG's earlier forecast are way too conservative and it gives only their own internal business operation projections. If you study BIG's business model carefully, a large part of BIG's business is on licensing. This is where the recent US$40m cash profit came from. The US$40m cash came because Terumo had CE approval also. So the US$40m cash is the beginning of the powerful effects of CE approval to this company. This US$40m is not possible without BIG having CE approval. So, the projections given by BIG does NOT include this US$40m profit and also profit contribution coming in from JWMS for FY2009. I have already calculated that US$8m (US$40m / 5 years) plus at least US$25m (JWMS net profit for FY2009), giving us a profit of at least US$33m above what BIG has projected earlier for FY2009. I feel this company is not giving shareholders good projections on profit guidance. Its very stupid investor relations method for them to give such low projections as BIG has to learn how to sell this compant to attract more institutional investors. Plus the US$40m cash will be used to further penetrate into Asia and CE approved markets so i expect to see better than expected sales projections for FY2009.

With the CE approval cleared, i expect Xtent and Devax to get their CE within the next couple of months (BIG being the main technology licensor for BiolimusA9 and PLA biodegradable polymer got their CE approval). CE has much lesser excuse to delay BIG's other licensee's CE approval. Plus, licensing agreements can further be renegotiated like what we have seen with BIG and Terumo on the recent US$40m amendment of royalty structure. Thus, i expect more things to come from BIG's licensing busines model. BIG still has Biomatrix-Freedom DES (polymer free) and 100% fully biodegradable DES (no BMS backbone) still haven't awarded any licensing deals yet. Such deals are easily worth tens of millions US$ based on per territory basis of structuring the deals and usage of this technology. I believe institutional investors will soon realise BIG's potential and take a second look at this grossly undervalued company. They have been too myopic to focus on BIG's past losses (due to CE delay) but fail to realise BIG's powerful business model via licensing. This is how small and technologically advanced companies make money very quickly. I also expect "patent breach settlement" income which can run into over US$100m per case of patent breach plus future royalties from sales. No analysts covering BIG can see this potential source of future income. They probably value the most important patent in the DES industry (any limus drug on biodegradable polymer) as zero value. But we can't quite blame the analysts for giving such low profit projections because in the first place, it was BIG that didn't know how to provide profit procast to the analysts.   

Grant Of Options Pursuant To The Biosensors Employee Share Option Scheme 2004