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Medis Technologies Ltd Q4 2007 Earnings Call Transcript

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2008-03-17 12:41:09.0

Tags: Medis Technologies Ltd.

Question-and-Answer Session

Operator

(Operator Instructions). Our first question will come from the line of Tom Leach with Preakness Hills Capital.

Tom Leach - Preakness Hills Capital

Yes. Good morning, Mr. Lifton. First, a couple of accounting questions then more of a strategic question. Can you breakout the accounts payable and the inventory portion? You didn't have the full balance sheet in the release.

Robert Lifton

Michael is that something which you can do now, or will we have to do it that in the 10K, or do we do it all?

Michael Resnick

I think it's something we have to do in the 10K.

Robert Lifton

Okay, so I won't take the time on the call to do it now. We'll do it in the 10K.

Tom Leach - Preakness Hills Capital

Gentlemen, let's not put to find a point on it here. We are in trouble on money, I want to know. You told me to built inventory, but then you didn't tell us how much you built in the inventory. And I want to see if your vendors are getting paid. Can you give us a little more help on the balance sheet?

Robert Lifton

Are we paying our vendors, Michael?

Michael Resnick

Yes, we are.

Jacob Weiss

We are paying our vendors on time. We have no problem doing this.

Tom Leach - Preakness Hills Capital

Well, you can't be an account payable this?

Robert Lifton

Not now. You'll see it in the 10K.

Tom Leach - Preakness Hills Capital

Okay. Next question. Last quarter I asked about if you put in a VP of Sales and at that point you said your marketing person was handling that function.

Robert Lifton

Well, our marketing person is a VP of Marketing.

Tom Leach - Preakness Hills Capital

I understood that.

Robert Lifton

That's Mitchell Rush.

Tom Leach - Preakness Hills Capital

Have you thought about hiring some people who have been through this process before? You guys have developed the Power Pack. Maybe it'll be best to hire a team that knows how to produce them themselves. Have you looked into something like that?

Robert Lifton

We're certainly been looking at whatever we should be doing to enhance our program and we're always open to that possibility. At this point in time, we feel satisfied that the work that we've been doing and the contacts we've been making are opening the door of the kind we want because our program requires that our distributor does the contacts around the world.

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