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The latest news release regarding $10 million financing, debt restructuring and bank support should have a very positive impact, near term.
Successful completion of the financing and majority approval from creditors appears to be iminent. This clearly enables the company to move forward as a clean balance sheet and sufficient working captial will prove to be the ingredients for future success.
Sales forcasts of $14 million for 1998 appear to be on line and may even prove to be low as commercialization of the "Diabetes screening product" may be closer at hand than originally expected.
In the absence of any surprises such as the "DSP", the companies other products are gaining significant world wide acceptance. Efficacy data continues to prove the benefits of Ceapro's products and the list of country distributors continues to grow with a Korean distributor just having been appointed.
It is my opinion that many in the investment industry, including analysts, have not taken the time to understand what this company is all about. I have personally taken the time to learn the benefits of their products and am quite excited to find that the size of their market is very significant . I have sampled a couple of Ceapro's products and have no doubt that this is a company of the future with huge potential.
Although final approval on the restructuring is not until March 25, I am very confident that the vote will be a formality. The past year has been quite disappointing for many who follow Ceapro Inc, however, it appears that the company may have reached a turning point. For those who have been patient and those who have sought opportunity at these levels, some rewarding may be near.
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