The engines have fired up at last for MDX. ( BPRG ) At long last they are being recognised for the force they will become over the next two years. On the cusp of disclosing huge revenue-earning deals with Global pharmacists. These have been hinted at as being unrolled before the years end, but may be in the next days.You still have time to get in at a bargain-basement price before the SP takes off for real shortly.

On the ball with the update tabby ... same old MDX.

"My guess is meldex will forcefully defend the winding-up petition without further challenge from TLFBT "


Your wish, more like. All rosy yet again? ;-))

Nothing like working on the fly

fortunatus - 23 Jan'09 - 11:46 - 41823 of 41860
Just spoken to Mr. Muncaster who told me re. the interim status report that he was "sitting here doing it right now".

"Dear Muppets ....."

lol

Where's Fozzie? ;-))

Where's the update?

The boredom's killing me :S

Its out

So, still furiously bailing out a sinking ship, may need another bucket, but she aint sunk yet!

RNS Number : 1765M
Meldex International PLC
23 January 2009



For Immediate Release

23 January 2009





Meldex International Plc ('Meldex ' or 'the Company')



Preliminary Status Report and Update on Winding-up Petition





Cambridge, UK, 23 January, 2009: Meldex International Plc (AIM: MDX), the Board of Meldex today provides an update on various matters arising from a preliminary strategic review of the Company's and its subsidiaries' business activities. The strategic review is ongoing and a further update will be provided on or before 30 January 2009.



Winding-up Petition

On 21st January 2009 the Company was informed that Rotating Equipment Limited ('Rotating') has joined the Petition claiming an amount owed of 282,197.28. Today, Rotating has agreed with the Company to withdraw its support of the petition and to issue a credit note to the Company in the full amount of 282,197.28.



Financial Statements

Meldex had conducted more than one barter deal in 2007 and 2008. Under the bartering arrangement, obsolescent stock is sold to the barter company at full value and in return the Company receives marketing credits. The principle behind this arrangement is that for the Company to receive full value for the sale of goods it must spend four times such sum with the barter company for marketing and advertising services. This type of transaction is quite common and recognition of the value is allowed for under accounting rules. However, in the case of such transactions conducted by the Company, which would require a marketing and advertising spend beyond the Company's financial resources, it is highly unlikely that this will occur, therefore Meldex will be restating its financial statements accordingly.



Intellectual Property

The directors have established that the Company's intellectual property portfolio is secure and as previously informed to the market.



Core-Tech Development Programmes

The Company's core-tech development programmes have been starved of working capital since early 2008. The Company is carrying out a detailed review of all of its core-tech and pipeline products and will report in more detail on or before 30th January, 2009.



Preliminary review:



The TabWrap machine is in storage awaiting funds to incorporate modifications required to enable TabWrap products to be produced in commercial volumes. The funding required is estimated to be 650,000.



The Meltums laboratory machine is functional and capable of producing sample batches of products.



NRobe is the responsibility of FMC Magenta and the directors are satisfied with the overall progress of the project.



The Company, as previously announced, is concentrating on a selected number of pipeline development projects. Meldex's innovative analgesic, DBP167, is currently under review by the UK Regulatory authorities with the expectation that approval will be sometime late 2009. This project will still incorporate a range of different pharmaceutical formulations, timings of which are still to be announced.



Benzocaine Oradisc, DBP149, for the treatment of pain associated with aphthous ulcers, is currently at an advanced stage with regulatory review scheduled to commence in during H1 2009. This product will be commercialized with third party partners.



The Company is still pursuing its developments in nicotine containing orally dissolving films. Meldex is currently assessing the different manufacturing options with regards to these products and will update the market at a later date.



Meldex is continuing its Soluleaves and WaferTab development with two third party customers, one for a pharmaceutical product and the other for the food and beverage industry.



Review of Previous RNS Announcement

The directors and AIM Regulators are currently reviewing previous RNS announcements made by the Company.



Manufacturing Agreement

On October 16th October 2007 by RNS the Company announced the following: 'it has commenced a long term manufacturing agreement with a large undisclosed party for XGel film. The contract has forecasted annual revenue of $5-6M which has commenced immediately. The contract remains well within the capacity of the Group's manufacturing capability.' On 18th February 2008 the Company's Chief Executive Officer informed a meeting of the directors that the large undisclosed party had pulled out of the contract announced on 16th October 2007.



Duties and Responsibilities of Directors

The Company is reviewing the activities and performance of all directors of the Company since flotation on AIM and will report its findings in due course.




Appointment of a Nominated Advisor ('NOMAD')

The directors are seeking to appoint a NOMAD on or prior to 16th February 2009. There can be no assurance that such appointment can be secured.



Finance

The directors are considering various funding proposals including a convertible loan note to be available on equal terms to all shareholders.







For information contact:

Gary Cressman +44 (0) 1223 394 250

Meldex International plc





Barry Muncaster +44 (0) 1223 394 250

Meldex International plc

BJM@meldexinternational.com








This information is provided by RNS
The company news service from the London Stock Exchange

END

Creditors queueing up, machines non-functional, other products under review, other production certainly under-funded at best, etc, etc.

It doesn't really look good still, does it?

Best of all is a director previously banned investigating "the activities and performance of all directors of the Company since flotation on AIM".



All in all, bear case proven. ;-))))))))

Oh, and a convertible loan note seems to be the only funding possible. No dosh and as noted some 4 months back, KKs sold cheap to keep it afloat.

Of course, all the "smart investors" carried on buying. Donuts.


Interesting piece in Moneyweek I was reading from 28 November yesterday:

"........ For example, last month, for the first time in ten years, the AIM market failed to raise any new funds, says the FT. Alistair Darling may be trying to ease the pressure on small firms, but the going is so tough institutional invesotrs are questioning whether these firms will return to favour even in the medium term."

So how does the "Rotating" thing work then? What a mess.

It keeps on going round and round Hils :-O

just looking in...so looks like bjm is gonna try and take any assets on cheap...think that was his plan all along.......shareholders will get nowt as usual.....tabby you have been conned...has he admitted he got it worng yet? (bet he cannot bring himself to do it)

he's been awfully quiet of late. I think his latest take was something like "I was 100% right but was embezelled which wasn't my fault".

I think psychiatrists call it 'cognitive dissonance'.

Yep, "embezzelled" was the word.

Feckwit, wrong, stupid, arrogant seem more appropriate.


Treb - Tabatha will never admit he was wrong with MDX. It is a trait we have seen before with other losers and we'll see it again. Nobodies with a dream. ;-0

You see, Tabatha was a bookie. Now we all know bookies run a one-sided operation. He made a few bob. Now he's playing with the big boys and expects he'll always be a winner coz that's what he's experienced all his life. How wrong could he be?

Being a bookie, he explained this as "being lucky all my life". Well, you're bound to be lucky if you're cooking the feckin' thing, aren't you?

Welcome to the real world loser!!!!!!!!!!!

ROFLMAO!


Actually, I did think about working a wee while longer and re-imbursing his losses, but I decided against it.

The groovy gang have excelled in their own exquisite wayFFSfirst of all to that thick twat bouncy.
Big Al - 23 Jan 2009 16:21 - 6066 of 6072
Creditors queueing up..
-------------------------------------
Is that just the one in the queue.Mr just the one ticket!!!
-------------------------------------
Name & Registered Office:

ROTATING EQUIPMENT CONSULTING LTD
3 PACK LANE
OAKLEY
BASINGSTOKE
HAMPSHIRE
RG23 7BD
Company No. 03257764
directors

Mohammed Al-Doori

Linda Ann Al-Doori
----------------------------------------
PREVIOUS DIRECTOR OF MELBROSIN AND DEXO.

Mr Al Doori

resigned 17/12/2008
Mr Al Doori felt the heat and decided to leg it on the 17th of December.RTIMHO advised Mr Al Doori there could be a nice little easy earner.
On 21st January 2009 the Company was informed that Rotating Equipment Limited ("Rotating") has joined the Petition claiming an amount owed of 282,197.28. Today Rotating has agreed with the Company to withdraw its support of the petition and to issue a credit note to the Company in the full amount of 282,197.28.
Bouncy you thick cnut tandori got rumbledBarry whispered a few sweet nothings in his ear.bingosorry Guv its a fare copcredit note in the postand if I can be of any further assistance...dont hesitate to ask?
It might also be worth considering TLFBT while preparing his winding up petitionsuggested to Finns to give Meldex the bullet as the company were about to self destructthis would be their final nail in the coffin and as he was offering a considerable amount of underwriting work with Centromeveryones a winneror so he thought! pressure the Nomad to resign then file a winding up petition...Goodnight Vienna!!!


Let me please draw your attention to a post from Dilwho I believe gets most things wrong but is still far shrewder than the rest of you.
--------------------------------------------
Dil - 24 Jan'09 - 00:23 - 42425 of 42470

Keep this up Bazza and you may get an apology , long way to go yet though :-)

Good luck.
------------------------------------------------
Correct Dilit is more than possible that you will have to apologise to the Barry campif the PIs had gone with your selected plan Lexusgame over already
A great guy that was unfortunately being used.I think he is still communicating with the companyand gloves on standby?..
As I have said many timesBarry does not take many prisonershe will succeedand the bad guys wont know what has hit them...

You're right again Tabby.

One thing I've learned on this thread is that it's no use arguing with idiots. They drag you down to their level then beat you with experience.

The cartoon boy I have been arguing with them for yearsthe difference is I never get dragged downmy level is triple A rated!
waywardladone cool catlove your style!

See what I mean?