Baxano Surgical, Inc fka BAXSQ

[wiseassowl]

This is funny. The CRO is making profits! The years are messed up in the court doc, but you get the idea.

"Baxano lost $21.1 million on $13.5 million in revenue during the first nine months of 2015. Under the leadership of John Palmer as the CRO, Baxano had an operating profit during December 2015, the first month of operating profits in at least the last five years.
During January, 2015, Baxano generated sufficient cash from operations to pay back all of its post petition DIP borrowing. As a result, the net DIP balance at the end of the
month was zero.

"The financial stability introduced by the CRO’s leadership allowed Baxano to sell all of this assets, producing a total return that could potentially product a return for unsecured creditors."

http://omnimgt.com/CMSVol2/pub_46887/513814_292.pdf