PMED (after the 700% gain yesterday)

[JV1298]

I'm just wondering what some of you who are more experienced than I at evaluating where a stock might go think about PMED (and most of you are in that category!) This is a company that has had pretty much nothing by way of revenue the past few years and thus is trading at ~.03 . Today wasn't a hot day on the market, but the stock held it's ground fairly well considering it's 700% boom yesterday (I was expecting a MAJOR selloff on a day like today when a speculative stock like this stops moving higher). Looking at its product and reading the release below, I'm really interested in where this stock may go when they start selling their product.

Thoughts?

Yesterday's Release:

SALT LAKE CITY--(BUSINESS WIRE)--Paradigm Medical Industries, Inc. (OTCBB: PMED.OB/PMEDW.OB), a leading innovative producer of ultrasound devices for the ophthalmic and medical industries, disclosed today it has received U.S. Food and Drug Administration (FDA) approval to market a new generation of Ultrasound devices. The products were developed through a collaboration with MEDA Co. Ltd., one of China's leading developers and manufacturers of ultrasound devices. The collaboration was formed in June 2006.

The new devices were unveiled at the recent American Academy of Ophthalmology (AAO) Convention, and have already received orders internationally.

"The FDA's approval of our 510(k) application will result in an immediate, stepped-up marketing campaign in the U.S. and Canada," said Paradigm Medical's Chief Executive Officer, Raymond Cannefax. "The Company has already built inventories based on strong international demand and anticipated U.S. regulatory approval."

The new devices include the P2000 A-Scan (used to measure axial length of the eye); P2200 Pachymeter (used for measuring corneal thickness); P2500 A-Scan/Pachymeter (a combination of the two stand-alone devices); P2700 AB/Scan (an ultrasound imaging device for detecting abnormalities within the eye); and P37-II (a more advanced AB/Scan used to provide portability for ophthalmology veterinary applications). "We believe the P37-II will set the new gold standard for AB/Scan in the industry," Mr. Cannefax noted.

"FDA approval for use of these devices and the recent operations management reorganization we implemented at the beginning of this year will have a favorable effect on our performance in 2007 and beyond," Mr. Cannefax added. "The Company clearly has become one of the leading, multi-product Ultrasound device producers in the world."

Paradigm Medical Industries, Inc. (Salt Lake City, UT), currently develops, manufactures and markets high-tech, proprietary diagnostic equipment and consumable products for the medical industry. The Company is a leading developer of Ultrasound devices, and has been dubbed "The UBM Company" (Ultrasound BioMicroscope). Contact us at 801-977-8900 or visit us at www.paradigm-medical.com.

[JV1298]

I have a good feeling about this stock... just listened to the CEO interview from 2 days ago. Sounds like they have a good product and are getting their act together. Should be interesting... Im holding this one for the long run.