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The Truth Is Right Here
They just put you together with a bunch
of Baloney, going into a 3 day weekend.
That post I wrote is not a bash, it's the truth.
Go ahead and call the Company and ask 'em.
They'll tell you how they just put you together.
It doesn't matter what kind of Widget is made.
Or who they might make collaborations with.
It's the numbers. And the numbers are Bad.
Pumping the Collaborators, or the Potential,
is all there is left to do. But both are separate
from the Company. The Collaborators have
the better end of the agreement stick. And
the "Potential" is just a "Mantra" that will
never materialize. But it's all you got to use.
They are in a hole that they can't get out of.
The Collaborators have them in a squeeze.
They will be chasing a profit forever and ever.
All there is to Pump is the "Potential" gimmick.
And that will never amount to anything, but the
lucky little pop you just had.
I can't believe they did this to unsuspecting
people... Going into an Easter Weekend :-- (
JMO
PROJECTED CONTRACTION
MARCH PREDICTION
SCRIPTS: 19.87K / 27 W-Days = 736
REVENUE: 19.87K X $91.18 = $1.81M
If March Is Above = POS GROWTH
If March Is About = NO GROWTH
If March Is Below = NEG GROWTH
1st QTR PREDICTION
SCRIPTS: 54.0K / 74 W-Days = 727
REVENUE: 54.0K X $91.18 = $4.92M
If 1st Qtr Is Above = POS GROWTH
If 1st Qtr Is About = NO GROWTH
If 1st Qtr Is Below = NEG GROWTH
IT'S COMING
JMO
READ THE "REAL" PR CAREFULLY
Right off the bat, they are trying to subtly mislead you into thinking that their Entire 1st Quarter has somehow delivered "Record Sales". This is the kind of stuff that they always try to pull.
Because, this PR is only referring to a Very Small Part of their total business. And it's the rest of the business that you really need to be worried about.
The Company has Enormous Bad Debt ($277M), Notes, Warrants, Poorly One-Sided Collaboration Deals, Continued Dilution (300M OS), and Low EPS Surprises (Neg 6 , to Neg 8 , to Neg 14 Cents)... When the EPS was suppose to go the other way. And Dilution was supposedly not going to happen either
Also, they are not afraid to use cleverly stated promotional word-tracks, that are protected under the SEC Safe Harbor & Forward-Looking Statements clause. Or, as some would refer to as: A License To Lie.
So, the PR tries to talk a Big Game, about a Very Small and almost insignificant revenue part of their business. They have no choice, really. Because, it's the only remote good thing that they have available to talk about. Too bad it's such a "Small Percentage" of their overall revenue stream.
They mention how Biossance is growing from less than 2% of their Product revenue in 2016. But they failed to mention that their 2016 product revenue was only $23.6M. And that the "Less Than 2%" part of that could actually mean anything, even One Dollar. Really... But at the maximum, no more than about $500K. That's a very "Open Ended Statement" to make. But typical of this Company.
So, when they suggest that the Small Biossance business is growing to more than "Double", you really have no clue as to what that "Double" is based on. For example... It could be as low as "One Dollar", or "One Bottle" of product, that then grew to "Two". But they instead cleverly stick to "Percentages", and words like "Double", instead of "The Real Numbers". GET IT ?
So, "Percentage Wise", they then proceed to make the claim of Growth. That it expects to be one of the fastest growing personal care businesses in the sector. But This is Absolute Baloney Statistical Verbiage. Because that is another "Open Ended Statement". Meaning: that if they just sold One Bottle of product, and the next Quarter they sold just Two Bottles ... They can then say they Grew the business a Whopping 100%. GET IT ?
Then they throw in a comment of how the Nutrition Business is also expanding significantly, with the Vitamin E Oil. Because they could not help killing two birds with one stone. But again, they don't dare define this "Growth" with "Real Numbers". Because, that would take the Thunder right out of this cleverly stated little Dog-n-Pony PR SHOW.
I am estimating that the true Revenue from Biossance is anywhere from Zero to $84K per month. And that little slice of life will not make one little dent in the Debt or Revenues that are needed. But then, also... Net Income and Profit is another BIG BAD STORY that you don't want to know anything about.
They claim that 2017 will bring them $200M in Revenues. And that's Total Revenue, which includes Product and any Upfront Collaboration money. That means $50M per Quarter. And That Is Not Going To Happen. Not Even Close.
But they just love taking your eye off the Ball, with irresponsible and possibly highly misleading propaganda tactics that are designed to possibly fool the masses, for Dilutive & Financial Survival Purposes.
JMO
FLUFF PR WAS MISLEADING
Pump-n-Dump Warning
edited
HERE IS THE DATA
1) Total 2016 Product Revenue = $26.3M
2) Biossance Was Less Than 2% = $500K
3) That Equals Only = $42K Per Month
They are only telling you the "Percentages",
because that sounds a "Whole Lot Better"
than telling you the small "Dollar Amounts",
which are even less than my $42K estimates.
THIS IS WHAT THEY SAY
They say that Biossance is growing from less
than 2% of "Product Revenue" in 2016, to more
than double "The Original Plan" for 2017.
* But they don't tell you what "The Original Plan" was !
Maybe only $1,000 of product was "The Original Plan" ?
* But Let's Just Give Them The Benefit Of The Doubt
CONFUSING TWO SEPARATE STATEMENTS
1) Biossance is growing from less
than 2% of "Product Revenue" in 2016 .
* Which Was Only About $42K Per Month
2) To double what was originally planned for 2017 .
* But they don't tell you what was originally
planned. And how or if it relates to the 1st Q .
So, if last year's Total was $500K, and then
that averages to about $42K per month. And
allowing "Double" to the benefit of the doubt :
* That Only Equals About $84K Per Month !
!!! At Most - That's Only $1M For All Of 2017 !!!
THIRD PARTY PROPAGANDA
Then they lay out those "Questionable" third-party
opinions and "Personal Accolades" about the product.
* They Are Clearly Trying To Put You Together Again
They are trying to make "Headlines" look good,
while not making a dent in any Revenues or Debt !
OLDEST TRICK IN THE BOOK
FIRST QUARTER WILL BE BAD
They are trying to use a "Percentage Game", by using Biossance.
And then trying to "Overlap" and percieve those percentages onto
the "Overall Quarter". To then try and confuse you into "Thinking"
that there will be a similar result in the "Overall Quarter Revenues".
But Total Quarter-1 Revenues will fall far short of $50M projections.
A G A I N - THEY ARE TRYING TO TRICK YOU
They Are Pumping Air - And Selling You Out
JMO
YOU ARE BEING PUT TOGETHER
FIRST QUARTER WILL BE BAD
They are trying to use a "Percentage Game", by using Biossance.
And then trying to "Overlap" and perceive those percentages onto
the "Overall Quarter". To then try and confuse you into "Thinking"
that there will be a similar result in the "Overall Quarter Revenues".
But Total Quarter-1 Revenues will fall far short of $50M projections.
A G A I N - THEY ARE TRYING TO TRICK YOU
HERE IS THE DATA
1) Total 2016 Product Revenue = $26.3M
2) Biossance Was Less Than 2% = $500K
3) That Equals Only = $42K Per Month
They are only telling you the "Percentages",
because that sounds a "Whole Lot Better"
than telling you the small "Dollar Amounts",
which are even less than my $42K estimates.
So, if last year's Total was $500K, and then
that averages to about $42K per month. And
then giving "Double" the benefit of the doubt :
That Only Equals About $84K Per Month !
At Most... That's Only $1M For All Of 2017
REVENUES WILL MISS PROJECTIONS
Their Revenue Projections For 2017 Are 200M .
That's $50M Per Qtr - They Will Not Get Close
Last Year They Averaged 6.6M Product Rev Per QTR
The Qtr-4 Product Revenue was the best at $11.5M .
They will be lucky to maintain that - Let alone $50M.
You Are Pumping Air - And They Are Selling
JMO
PR DOES NOT MEAN ANYTHING
They are just restating about
using interface modules, like
when they set up that Kiosk
at Century Village.
There Is Contraction Now
They will be getting some kind of
Dilutive Financing to offset their
expenses in order to survive, until
maybe things start picking up again.
Then There Will Be A Reverse-Split
JMO
THIS IS ANOTHER FLUFF PR
Pump-n-Dump Warning
Here Is Some Data
1) Total 2016 Product Revenue Was: $26.3M
2) Biossance Was Less Than 2%: $500K
3) That Equals Only: $42K Per Month
They are only telling you the "Percentages",
because that sounds a whole lot better than
telling you the "Dollar Numbers", which are
even less than my estimates.
This Is What They Say
They say that Biossance is growing from less
than 2% of "Product" Revenue in 2016, to more
than double the original plan for 2017.
But they don't tell you what is meant by
"what was originally planed". Maybe only
$1,000 of product was originally planned ?
But Let's Give Them The Benefit Of The Doubt
Confusing 2 Separate Statements
1) Biossance is growing from less
than 2% of "Product" Revenue in 2016.
Which was only about $42K per month.
2) To more than double what
was originally planned for 2017.
But they don't tell you what was originally
planned. And how or if it relates to the 1st Q.
So, if last year's Total was $500K, and then
that averages about to $42K per month. And
then giving the benefit of the doubt, that equals
only about $84K per month,
At Most... That's Only $1M For All Of 2017
Third Party Propaganda
Then the lay out "Questionable" 3rd party
opinions and "Personnal Accolades" about
the product. They are clearly trying to
put you together again.
They are trying to make "Headlines" look
good, while not making a dent in Revs or Debt.
They're trying to confuse a "Percentage Game"
with Biossance, and then trying to "Overlap"
that with the "Overall Quarter", to then try and
confuse you into "Thinking" that there will be a
similar result to the "Overall Quarter Revenues".
But Q1 Revs will fall far short of projections.
AGAIN
EOM
AUDIT + DATA = CONTRACTION
as simple as: 1 + 2 = 3
as easy as: A + D = C
AUDIT + DATA = CONTRACTION
it's the right way to interpret data
the only way to interpret data
that's just the way it is
it's as simple as that
as simple as 1 + 2 = 3
a + d = c
THE AUDIT OF CONTRACTION
It's Real - And It's Spectacular
It shows a slight Uptick in the Scripts and
Revenue during the first half of last year.
Trdrs and Posters were very excited
about this small trend, and expounded
with great euphoria and exuberance.
Then it shows a Fattening-Out
into the second half of the year.
As the pps then started to falter.
And anyone who was paying attention
was already out of their positions by then.
Now the Contraction starts to set in.
As irrational exuberance is mystified
by the continuing divergence in pps.
While substituted dynamics are used
to try and overcome the harsh reality.
It's All There - Plain As Day
And the Company already knows that they
are declining from a previous mild plateau.
So the next step is to secure their very own
existence, with some type of financing that
will be dilutive in nature. And then follow
that up with a needed Reverse-Split.
Again - Plain As Day
JMO
They Are Taking Profits
It Is Being Spiked To Take Profits
The Market Is Ready To Collapse
If You Chase, You Will Hold The Bag
DEBT AND DILUTION
There Is A Lot Of Dilution Going On
Because Of The Bad Debt, Notes & Warrants
This Will Negatively Impact The EPS As Well
The Revenues Will Not Meet Their Projections
And This Will Lead To A 1-for-20 Reverse-Split
SHARE STRUCTURE
The AS is 500M --- Ready for Reverse-Split.
The OS was 140M --- Now it's almost 300M.
The Float was 77M --- Now it's over 225M.
And that wasn't even suppose to happen !!!
NO CASH OF THEIR OWN
All cash is borrowed money.
The debt is over $227,000,000 .
The rug can be pulled out at any time.
They're at the mercy of their collaborators.
ANOTHER BAD QUARTER IS COMING
Neg 6 Cents, to Neg 8 Cents, to Neg 14 Cents.
This Qtr will be even worse. How can that be ?
The more it's pumped, the worse it becomes !!!
JMO
AUDIT PROVES CONTRACTION
ROUNDED DATA FROM COMPANY
JAN 2016: 15.5K Rx / 24 W-Days = 646
FEB 2016: 16.7K Rx / 24 W-Days = 696
MAR 2016: 18.6K Rx / 27 W-Days = 689
APR 2016: 16.5K Rx / 26 W-Days = 635
MAY 2016: 17.5K Rx / 25 W-Days = 700
JUN 2016: 18.0K Rx / 26 W-Days = 692
JUL 2016: 16.6K Rx / 25 W-Days = 664
OLD AVE: 119.4K Rx / 177 W-Days = 675
THEN A SMALL GROWTH SPURT
AUG 2016: 20.0K Rx / 27 W-Days = 741
SEP 2016: 19.0K Rx / 25 W-Days = 760
OCT 2016: 18.6K Rx / 25 W-Days = 744
NOV 2016: 18.5K Rx / 24 W-Days = 771
DEC 2016: 18.0K Rx / 26 W-Days = 692
JAN 2017: 17.5K Rx / 24 W-Days = 729
FEB 2017: 16.5K Rx / 23 W-Days = 717
NEW AVE: 128.1K Rx / 174 W-Days = 736
GROWTH HAS NOW FLATTENED
DATA COMMENTS
Reflects Data Avgs Obtained After Small
Growth Spurt During Middle Of Last Year
Spurt Averaged 61 Extra Scripts / W-Day
Last Year's Average Per Scipt = $85.80
This Year's Average Per Scipt = $91.18
Each New Period Will Pull The Averages
Up Or Down Into Growth Or Contraction
TREND NOW SHOWS CONTRACTION
===============================
THE CONTRACTION PROJECTION
MARCH PREDICTION
SCRIPTS: 19.87K / 27 W-Days = 736
REVENUE: 19.87K X $91.18 = $1.81M
If March Is Above = POS GROWTH
If March Is About = NO GROWTH
If March Is Below = NEG GROWTH
1st QTR PREDICTION
SCRIPTS: 54.0K / 74 W-Days = 727
REVENUE: 54.0K X $91.18 = $4.92M
If 1st Qtr Is Above = POS GROWTH
If 1st Qtr Is About = NO GROWTH
If 1st Qtr Is Below = NEG GROWTH
that's just the way it is
JMO
GOING TO TEST BOTTOM AGAIN
CHART SAYS ANOTHER RETEST
* * * * * $0.005 - TO - $0.007 * * * * *
SUPPORTED BY FUNDAMENTALS
THAT CONTRACTION IS LOOMING
SMALL GROWTH HAS PEAKED
CONTRACTION STRAIGHT AHEAD
followed by a lot of stuff that's not good
THE SAUSAGE HAS BEEN TESTED
ROUNDED DATA FROM COMPANY
JAN 2016: 15.5K Rx / 24 W-Days = 646
FEB 2016: 16.7K Rx / 24 W-Days = 696
MAR 2016: 18.6K Rx / 27 W-Days = 689
APR 2016: 16.5K Rx / 26 W-Days = 635
MAY 2016: 17.5K Rx / 25 W-Days = 700
JUN 2016: 18.0K Rx / 26 W-Days = 692
JUL 2016: 16.6K Rx / 25 W-Days = 664
OLD AVE: 119.4K Rx / 177 W-Days = 675
THEN A SMALL GROWTH SPURT
AUG 2016: 20.0K Rx / 27 W-Days = 741
SEP 2016: 19.0K Rx / 25 W-Days = 760
OCT 2016: 18.6K Rx / 25 W-Days = 744
NOV 2016: 18.5K Rx / 24 W-Days = 771
DEC 2016: 18.0K Rx / 26 W-Days = 692
JAN 2017: 17.5K Rx / 24 W-Days = 729
FEB 2017: 16.5K Rx / 23 W-Days = 717
NEW AVE: 128.1K Rx / 174 W-Days = 736
GROWTH HAS NOW FLATTENED
DATA COMMENTS
Reflects Data Avgs Obtained After Small
Growth Spurt During Middle Of Last Year
Spurt Averaged 61 Extra Scripts / W-Day
Last Year's Average Per Scipt = $85.80
This Year's Average Per Scipt = $91.18
Each New Period Will Pull The Averages
Up Or Down Into Growth Or Contraction
TREND NOW SHOWS CONTRACTION
================================
CONTRACTION IN THE PROJECTION
MARCH PREDICTION
SCRIPTS: 19.87K / 27 W-Days = 736
REVENUE: 19.87K X $91.18 = $1.81M
If March Is Above = POS GROWTH
If March Is About = NO GROWTH
If March Is Below = NEG GROWTH
1st QTR PREDICTION
SCRIPTS: 54.0K / 74 W-Days = 727
REVENUE: 54.0K X $91.18 = $4.92M
If 1st Qtr Is Above = POS GROWTH
If 1st Qtr Is About = NO GROWTH
If 1st Qtr Is Below = NEG GROWTH
THE PROOF IS IN THE PUDDING
JMO
AUDIT SHOWS CONTRACTION
JUST BECAUSE THERE IS AN AUDIT
THAT STATES NUMBERS AND DATA
DOES NOT MEAN THAT THE ACT OF
THE AUDIT ITSELF PROVES GROWTH
BY TRYING AND DEFINING IT AS SOME
KIND OF CONFIRMED CLARITY BY ONLY
TRANSPOSING DATA ONTO AN AUDIT
AND SUGGESTING TRANSPARENCY AS
THAT IS SUPPOSE TO BE SOME SORT OF
MAGIC WAND THE MEANS SOMETHING
IT IS NOT WHEN THE DATA EXPRESSED
IN THE AUDIT CLEARLY POINTS TO . . .
C - O - N - T - R - A - C - T - I - O - N
. . . IN WHICH THERE IS NO GROWTH AND
THERE IS NO PROFIT AND BAD FINANCING
IS AHEAD AS TROUBLE IS NOW LOOMING
THEREFORE MORE DEBT ACCOMPANIED
BY DILUTION AS R-SPLIT IS ON THE WAY
EOM
THEY HAVE PEAKED
GROWTH CANNOT BE INVENTED
NOW IN CONTRACTION
THERE IS NO GROWTH
THERE IS NO PROFIT
TROUBLE AHEAD
BAD FINANCING
MORE DEBT
DILUTION
R-SPLIT
Growth Cannot Be Invented
Especially When There Is
C O N T R A C T I O N
GROWTH WILL NOT BE FORCED
TREND SHOWS CONTRACTION
ROUNDED DATA FROM COMPANY
JAN 2016: 15.5K Rx / 24 W-Days = 646
FEB 2016: 16.7K Rx / 24 W-Days = 696
MAR 2016: 18.6K Rx / 27 W-Days = 689
APR 2016: 16.5K Rx / 26 W-Days = 635
MAY 2016: 17.5K Rx / 25 W-Days = 700
JUN 2016: 18.0K Rx / 26 W-Days = 692
JUL 2016: 16.6K Rx / 25 W-Days = 664
OLD AVE: 119.4K Rx / 177 W-Days = 675
THEN A SMALL GROWTH SPURT
AUG 2016: 20.0K Rx / 27 W-Days = 741
SEP 2016: 19.0K Rx / 25 W-Days = 760
OCT 2016: 18.6K Rx / 25 W-Days = 744
NOV 2016: 18.5K Rx / 24 W-Days = 771
DEC 2016: 18.0K Rx / 26 W-Days = 692
JAN 2017: 17.5K Rx / 24 W-Days = 729
FEB 2017: 16.5K Rx / 23 W-Days = 717
NEW AVE: 128.1K Rx / 174 W-Days = 736
GROWTH HAS NOW FLATTENED
DATA COMMENTS
Reflects Data Avgs Obtained After Small
Growth Spurt During Middle Of Last Year
Spurt Averaged 61 Extra Scripts / W-Day
Last Year's Average Per Scipt = $85.80
This Year's Average Per Scipt = $91.18
Each New Period Will Pull The Averages
Up Or Down Into Growth Or Contraction
TREND NOW SHOWS CONTRACTION
THE CONTRACTION PROJECTION
MARCH PREDICTION
SCRIPTS: 19.87K / 27 W-Days = 736
REVENUE: 19.87K X $91.18 = $1.81M
If March Is Above = POS GROWTH
If March Is About = NO GROWTH
If March Is Below = NEG GROWTH
1st QTR PREDICTION
SCRIPTS: 54.0K / 74 W-Days = 727
REVENUE: 54.0K X $91.18 = $4.92M
If 1st Qtr Is Above = POS GROWTH
If 1st Qtr Is About = NO GROWTH
If 1st Qtr Is Below = NEG GROWTH
JMO
Perspective On Magnitude
That's Fine With Me - I Guess
Even though $0.50 is not "Directly" related.
I was trying to be conservative when using a
"Perspective". Picking an ave pps around the
dates of these two 8K's. But $0.50 is still OK.
RECENT DEBT & INTEREST = DILUTION
Jan 06th 8K - And - Jan 12th Form D
Debt: $25.0M Plus 10% Int = $27.5M
Using An Est. Equivalent Pps Of $0.50
The Dilution Equivalence = 55M Shs
Jan 18th 8K - And - Jan 26th Form D
Debt: $19.1M Plus 9.5% Nt = $21.0M
Using An Est. Equivalent Pps Of $0.50
The Dilution Equivalence = 42M Shs
An Est. Equivalent Perspective
Total Est. Equiv. Debt = $48.5M
Total Est. Equiv. Dilution = 97M
JMO
CHECK THIS DATA OUT
RECENT NOTES & DEBT = DILUTION
Jan 6 - 8K = $25,000,000 - Note
Jan 12 - Form D = $25,000,000 - Debt
Sold At An Est. Equivalent Pps = $0.75
Diluted Equivalence = 33,333,333 Shs
Jan 18 - 8K = $19,136,000 - Note
Jan 26 - Form D = $19,136,000 - Debt
Sold At An Est. Equivalent Pps = $0.75
Diluted Equivalence = 25,514,666 Shs
Put These Two In Perspective
Total = $44,136,000 - Notes & Debt
Total = 58,848,000 - Equiv. Diluted Shs
FIDELITY MNGMT RESEARCH - FMR
Interesting To Track The Shs
Nov 10, 2011 SC13: 04.9M - 10.9%
Feb 14, 2012 SC13: 05.8M - 12.7%
Feb 14, 2013 SC13: 07.5M - 11.9%
Feb 14, 2014 SC13: 11.7M - 13.9%
Feb 13, 2015 SC13: 12.5M - 14.4%
Aug 10, 2015 SC13: 13.0M - 08.7%
Nov 10, 2015 SC13: 17.8M - 10.4%
Buying & Trading As Price Sank
Feb 12, 2016 SC13: 17,694,648 - 8.6%
They Unloaded All But 4,466,823 Shs
During That End Of Year Pump-n-Dump
Dec 31, 2016: FMR Owned 4,466,823 Shs
It Looks Like They Lost A Lot On This
And They Like To Hold Just Under 10%
So Won't File A Form-4 When They Sell
Feb 14, 2017 SC13: 24,416,554 - 8.3%
I Think They Will Eat It Again This Time
CALCULATE THE CURRENT OS
Look At FMR To Compute The OS
Feb 14, 2017 SC13: 24,416,554 - 8.311%
If this was 8.311% of the Outstanding Shs,
that means OS is now at least 293,785,994 .
A Little History Of Massive Dilution
Q2-2010 = 005.2M --- BEFORE THE IPO
Q3-2010 = 043.0M --- Q4-2010 = 043.8M
Q4-2011 = 044.8M --- Q4-2012 = 056.7M
Q4-2013 = 075.5M --- Q4-2014 = 078.4M
Q2-2015 = 080.0M --- Q4-2015 = 126.9M
Q1-2016 = 207.9M --- Q2-2016 = 223.1M
Q3-2016 = 249.2M --- Q4-2016 = 273.4M
Q1-2017 = ABOUT 293.8 AS OF FEB 14
Do You Remember The Dilution Debate
Before Q2-2016 Report came out last August,
when the OS was about 207M, I started to warn
that some Unknown Dilution was taking place.
And I determined that by the end of the year,
the OS would be around 300M .
You See There Is A Lot Of Dilution Going On
This Will Negatively Affect The EPS As Usual
And Eventually Lead To A 1-for-20 R-Split
Then, everybody else started to sternly claim
that "No Dilution" was taking place. This was
partly due because of the clever wordings put
out by the Co. that were "accidentally" misread.
Those "Forward-Looking Statements" were just
not being analyzed or scrutinized properly. Or
ignored, to satisfy the ongoing Pump-n-Dump.
HISTORY ON TOTAL AND TEMASEK
TOTAL S.A. - Shs
Par Value $0.0001 Per Sh
Feb 14, 2011 SC13: 09.7M - 22%
Feb 14, 2012 SC13: 13.6M - 18%
Feb 14, 2013 SC13: 13.6M - 18%
Feb 14, 2014 SC13: 13.6M - 18%
July 02, 2015 SC13: 22.9M - 26%
50/50 JV - TOTAL Provided Funding
In Exchange For Convertible Notes
This Did Not Turn Out Well For Co.
Aug 6, 2015 SC13: 57.7M - 34%
Issuable Into Common Stock
5.9M = Tranche-1
3.9M = Tranche-2
2.6M = Note
Sep 24, 2015 SC13: 79.2M - 41%
Issuable Into Common Stock
18.9M = Funding Warrant
7.6M = Tranche-1
4.7M = Tranche-2
128K = Warrant
2.6M = Note
Oct 19, 2015 SC13: 79.2M - 44%
Issuable Into Common Stock
18.9M = Funding Warrant
7.6M = Tranche-1
4.7M = Tranche-2
128K = Warrant
2.6M = Note
TEMASEK HOLDINGS LTD - Shs
Par Value $0.0001 Per Sh
As Of Mar 30, 2017: 51,828,214 / 56,961,120
Temasek now owns at most: 17.6% / 19.4% .
They actually use to own as much as 37% ,
but further back in time the OS was lower.
That Presentation Chart was conveniently
designed last year, and is now not current.
FEB 14, 2011 SC13: 02.7M - 06%
DEC 28, 2012 SC13: 10.4M - 14%
NOV 25, 2014 SC13: 21.7M - 24%
8.7M Trnch-2 + 2.7M Note
DEC 19, 2014 SC13: 39.8M - 37%
18M&8.7M T1&2 + 2.7M Nt
MAY 26, 2015 SC13: 39.3M - 36%
16.7M&9.6M T-1&2+2.7M Nt
JULY 30, 2015 SC13: 44.9M - 28%
1.0M Warrant + 2.7M Note
SEP 23, 2015 SC13: 59.6M - 34%
14.7M Warrant + 2.7M Note
OCT 19, 2015 SC13: 72.3M - 35%
12.7M Warrant + 2.7M Note
SEP 01, 2016 SC13: 74.7M - 31%
2.5M Warrant + 2.7M Note
NOV 04, 2016 SC13: 70.0M - 29%
2.5M Warrant + 2.7M Note
NOV 14, 2016 SC13: 69.1M - 26%
2.5M Warrant + 2.7M Note
DEC 15, 2016 SC13: 66.3M - 24%
2.5M Warrant + 2.7M Note
JAN 11, 2017 SC13: 64.8M - 23%
2.5M Warrant + 2.7M Note
FEB 27, 2016 SC13: 61.8M - 22%
2.5M Warrant + 2.7M Note
MAR 14, 2017 SC13: 58.7M - 21%
2.5 Warrant + 2.7M Note
JMO
THE PROJECTIONS
DATA COMMENTS
Reflects Data Avgs Obtained After Small
Growth Spurt During Middle Of Last Year
Last Year's Ave Price Per Script = $85.80
This Year's Ave Price Per Script = $91.18
Each New Period Will Pull The Averages
Up Or Down Into Growth Or Contraction
MARCH PREDICTION
SCRIPTS: 19.87K / 27 W-Days = 736
REVENUE: 19.87K X $91.18 = $1.81M
If March Is Below = NEG GROWTH
If March Is About = NO GROWTH
If March Is Above = POS GROWTH
1st QTR PREDICTION
SCRIPTS: 54.0K / 74 W-Days = 727
REVENUE: 54.0K X $91.18 = $4.92M
If 1st Qtr Is Below = NEG GROWTH
If 1st Qtr Is About = NO GROWTH
If 1st Qtr Is Above = POS GROWTH
JMO
More Debt From A Losing Investment
That chart is not accurate. Just the
Temasek holdings alone is way off.
If Temasek held 22% of the OS, that
would make the OS only 236M. But
the OS is more like 279M. And it is
irresponsible for you to suggest that
"You Think" they are done selling.
I do agree with FMR at 8%. But, all who
hold securities under 10% of the OS do
not have to file a Form-4. I would now
consider those to be retail as well.
You are merely trying to justify the actions
of these losing entities, by purely trying to
"Name-Drop" them. That Is Ridiculous
These entities that have previously invested
are buried in their own investments. Most of
these bad investments have gone back years.
Like any investment, one time they had hope.
But now a more recent necessity to protect
those losing investments, with the occurrence
of huge dilutive bad debt and convertible notes,
have all now begun to take over.
Any argument you are trying to make, as to who
holds what and how much, is both meaningless
and baseless.
And regardless of any percentage discrepancy,
as to who holds what or how much, it is nothing
more than a flakey diversion on your part as in
trying to make up a useless topic, in order to
try and protect a losing investment.
EOM
EVERYONE WILL LOSE
GET THE FACTS STRAIGHT
The OS Is About 279M .
Institutional Ownership
Is About 60M, or 20% .
That Means Retail Holdings
Is About 80% .
This Matches The Float
Of About 225M, or 80% .
The Largest Shareholder
Is Temasek (Maxwell)
At About 52M Shs, or 18% .
And They Are Selling.
FIRST OF ALL
If TOTAL is an Independent "Stakeholder",
which is different from a "Shareholder",
then they would get paid first, after any
Bankruptcy. Leaving nothing for the
Shareholders.
But still, the JV Renewable Fuels relationship
has since left the Co. out in the cold. Another
example of the Company making poor deals,
and being at the mercy of their Collaborators.
And, as of June 2015, TOTAL owned 20% of
the Company's stock. But back then, the OS
was only about 85M shs. That's only about
17M Shs. And now that's only about 6%, due
to all the Dilution that's has happened since.
SECOND OF ALL
Latest Form-4 on Doerr was also 9 mos ago.
The transaction looks like a 200K Sh purchase
from CEO Melo, who sold 200K the same day.
No Records Found Of Any $25M Purchase
Link provides no purchase info that you claim.
THIRD OF ALL
8% of the OS would be 22M shs.
Fidelity Management & Research Co
owns about 4M Shs, not 22M Shs.
That's 1.4%. Maybe they sold some, huh ?
FOURTH OF ALL
DARPA does all kinds of stuff. Plus they have
to spend all their budget money to justify their
next budget requests, for the following year.
FIFTH OF ALL
DOE applies to the same as DARPA .
SIXTH OF ALL
Guanful Holdings deal is for "Up To" $25M .
Which the Company may borrow time to time,
up to three closings. Each Loan has a term of
5 years at 10% int. That's a reasonable risk
to make on a Loan. It's not like they're giving
$25M away in up-front cash, as you suggest.
SEVENTH OF ALL
The Co. is in a survival game with Lenders.
Forget products. The Game Is To Kite Loans.
JMO
THE BAROMETER
My Analysis Will Be The Barometer
By Which Any Growth Or Contraction
Will Be Determined By A Rolling Ave
Thank You
CONTRACTION IS HERE
Reflects New Average Obtained After Small
Growth Spurt During Middle Of Last Year.
Each New Period Will Pull The Average
Up Or Down Into Growth Or Contraction.
MARCH PREDICTION
AVE: 19.87K Scripts / 27 W-Days = 736
If March Is Below = NEG GROWTH
If March Is About = NO GROWTH
If March Is Above = POS GROWTH
1st QTR PREDICTION
AVE: 54.0K Scripts / 74 W-Days = 727
Jan 2017: 17.5K Rx / 24 W-Days = 729
Feb 2017: 16.5K Rx / 23 W-Days = 717
Mar 2017: 20.0K Rx / 27 W-Days = 736
If 1st Qtr Is Below = NEG GROWTH
If 1st Qtr Is About = NO GROWTH
If 1st Qtr Is Above = POS GROWTH
JMO
CONTRACTION IS SETTING IN
Reflects New Average Obtained After Small
Growth Spurt During Middle Of Last Year.
Each New Period Will Pull The Average
Up Or Down Into Growth Or Contraction.
MARCH PREDICTION
AVE: 19.87K Scripts / 27 W-Days = 736
IF MARCH IS BELOW = NEG GROWTH
IF MARCH IS ABOUT = NO GROWTH
IF MARCH IS ABOVE = POS GROWTH
1st QTR PREDICTION
AVE: 18.0K Scripts / 74 W-Days = 727
Jan 2017: 17.5K Rx / 24 W-Days = 729
Feb 2017: 16.5K Rx / 23 W-Days = 717
Mar 2017: 20.0K Rx / 27 W-Days = 736
IF 1st QTR IS BELOW = NEG GROWTH
IF 1st QTR IS ABOUT = NO GROWTH
IF 1st QTR IS ABOVE = POS GROWTH
JMO
BUSINESS NOT GOOD
SHARE STRUCTURE NOT GOOD
The AS is 500M --- Ready for Reverse-Split.
The OS was 140M --- Now it's almost 300M.
The Float was 77M --- Now it's over 225M.
And that wasn't even suppose to happen !!!
DEBT NOT GOOD
All cash is borrowed money.
The debt is over $227,000,000 .
The rug can be pulled out at any time.
They're at the mercy of their collaborators.
FIRST QUARTER NOT GOOD
Neg 6 Cents, to Neg 8 Cents, to Neg 14 Cents.
This Qtr will be even worse. How can that be ?
The more it's pumped, the worse it becomes !
PUMP-N-DUMP NOT GOOD
"To Da Moon" - "Sleeping Giant" - "Etc".
The only research was Copy-n-Paste stuff.
This company will always be struggling.
Excessive dilution, and twisted bad debt
will follow them forever into eternity.
REVERSE-SPLIT NOT GOOD
That's right. They are out of compliance with NASDAQ again. And they don't have to wait to be up against the wall before doing a Reverse-Split. They can do it now. They already have a plan to do it from the last time they were out of compliance, before that last internet Pump-n-Dump routine. But they actually want a R-Split, because they know their Outstanding Shares are way to high. A 1-for-20 R-Split is coming. You Can Count On It.
BUSINESS MODEL NOT GOOD
The main business model is how they juggle their debt. Everything else is secondary, used as a tool to justify a salary from a profitless company. Hence, the new CFO. And the more they juggle that debt, the more bonuses for management. That's right. It has nothing to do with revenues or product. And bonuses will be paid in cash, as stated in the previous 8-K, most likely from the dilution of more shares. Probably from the bleeding of that $50M ATM dilution facility that was set-up early last year.
Just My Opinion
SUPPORTING THE DATA
WORK-DAYS
Work-Days are based on Monday thru Saturday. And then deduct Federal Holidays. That is very fair in getting a handle on a very real average.
Sure, it's possible they may work on some of those Federal Holidays. Maybe even on the occasional Sunday. But maybe they don't work on some of those days, and other days as well. Or maybe even have shut-down days, for operational reasons, etc. So please... Enough with the "Ad-Nauseum".
The idea is to get as smart to an average as is reasonable. As it relates to all of their business. Whether its: Long Term Care, Short Term Care, Walk-ins, Shipping, Mailing, Email, etc. Business is Business. The Data is not skewed away from any reasonable rationality, regarding a relative average for a Growth comparison. Get it ?
https://www.timeanddate.com/calendar/
ADJUSTMENTS
Any adjustments have been fair and logical. Leading with a non-biased and overall flow, to an average conclusion of "Data-Averages".
SEASONALITY
This concept is a farce, imo. If anything, that "Seasonality" should have a boost in Prescription sales. Statistically, there is more illness during that time, around the winter months. And I am sure they will take on as much business as they can, when they can. It's most likely an excuse, rather than an event.
READ IT
Perhaps reading the analysis more carefully might help. I understand an investors position in wanting to protect the investment at all costs. So impartial and non-biased objectivity may sometimes be hard to come by.
EOM
SOME THINGS YOU SHOULD KNOW
Worth The Time And Effort To Read If You
Want A Real Good Synopsis On Everything
Updated With Changes
Quarterly & Yearly Reports are always released. And the "Act" of their release should not be viewed as a "Surprise". But this Audit Report did reveal that both Net Income and Growth have become stagnant. And are now beginning to show some Weakness and Contraction, as opposed to Expansion.
FROM THE BEGINNING
Last Year's 1st & 2nd Qtrs were starting to show a small (but positive) increase in Net Income and Growth. But the following 3rd Qtr "Surprise" revealed some Stagnation, leading back into a Net Loss Of Income. This is what kept the Stock-$ down, even though the 3rd Qtr Script & Revenue percentages were increasing year-over-year. But it seems that larger increases in Costs are being passed on to the Consumer, and therefore transferred into Revenues. So, as the Industry Costs have increased, so have the Revenues. And along with other factors, A Contraction In Net Income Was The Result. As the Quantity of Scripts had also started to "Top-Out" .
ANOTHER QUARTER LOSS
Then, here comes some new data in the recent 2016 Yearly Audit... Which revealed that the last 4th Quarter had another Net Loss of Income. The previous 3rd Qrt showed a Surprise Net Loss Of ($2,899). While the 4th Qtr Surprise continued to show even More Net Losses, Of ($5,546). That's A Greater Net Loss. While also only showing an average 14 Script per Working-Day increase, over the previous 3rd Quarter.
You see... The 3rd Qtr months were showing some percentage progress in Growth, when comparing Revenues along with an average increase of 45 Scripts per W-Day, compared to the previous 1st & 2nd Qtrs. But even still, the resulting Net Income was Negative... That Was A Red Flag.
And now... The 4th Qtr shows more "Slow-Down" in the increasing Scripts per W-Day. When compared to the 3rd Qtr 45 Script increase, now down to only a 14 Script increase in the 4th Qtr, over the 3rd Qtr. As the Net Income continued to show an even Greater Loss... Another Red Flag.
And when comparing this recent 1st Qtr to the last 4th Qtr average... This Jan had 6 less Scripts, Feb had 19 less Scripts ...and I am predicting that the March Scripts per W-Day will decrease even more. The Company Is Showing Contraction, Not Growth.
The 4th Qtr Net Income should have been around $150K. But It Was A Big Net Loss Of ($5,546). And the Yearly Net Income should have been around $500K. But It Was Only $209K. That missed my estimates by 60%! The only Positive statistic going forward is the Cash On Hand of $816K. Versus $290K from the beginning of 2016 .
CARROTS AND CATALYSTS
It was already well known they hired an Auditor, to audit the financials of their Small Company. And the "Act" of its release should have been viewed as a "Surprise". They could have done an Audit at any time. It's a very small and inexpensive job that does not take long to do on a Small Company. I'm surprised they haven't done it many times before. But only to be used now, as a unique thing, is just an example of another "Carrot". It was already known this was coming. What else was suppose to have happened. And There Are More Negative Surprises Revealed Because Of It, Than there are Positive.
And it was already known that the CEO was going "Talk-It-Up" and make "Loose Claims" that are protected under the "Forward-Looking Statements" clause. Just as usual. And pandering to any excitement. about Transparency or Disclosure. can be easily interpreted as making something out of nothing, that most have already known the results of.
There won't be any possibilities for Mergers or Up-Listings for years. Those procedures and qualifications are already known, and are very far away. But it all can be used as another "Carrot", before obtaining further Financing, along with its Dilution.
WHAT'S COMING NEXT
Some even already know how this March-Q1 has gone, because of the higher 23 Working-Days. But still, there will be no improvement. It is very easy to track. I am predicting a continued lowering in the amount of Scripts per Working-Day. The extra Working-Days will only give a false perception, regarding bogus Quantity and Revenue projections, based on an inaccurate monthly scale. Because March and August both have the greatest amount of Working-Days.
http: //investorshub.advfn.com/boards/read_msg.aspx?message_id=130103701
MORE NEGATIVE SURPRISES
So basically, there were No Positive Surprises. Only Negative. No Advancements. Just a process that may only be perceived as being exciting to entities that may be behind in this investment. That's all there is. The pps will most likely collapse again. This Company has already Maxed-Out on any further Growth. Sold positions should have already taken place.
ADDED BONUS TRACK FROM AUDIT
" We Will Seek To Raise Additional Funds In The Future, Which May Be Dilutive To Stockholders Or Impose Operational Restrictions "
As I mentioned before: An Audit Document may allow for a broader range of Less Toxic, but still Dilutive, Equity Financing. That's the real and only reason they did an Audit at all. The Company is now entering into a long state of dormancy, as failed "Carrots" and "Catalysts" fall by the wayside.
They will try to fund the expansion of their new start-up adventure: Smart Medical Alliance. That's the only expansion plans they are referring to. And Raising any additional Capital Funds will be a burden for quite some time. Smart Medical Alliance is "Hoping" to offset the Declining Growth that is materializing in the Pharmacy Business, which is currently 99.8% of the Total Business.
It Is Much Easier To Sell Intentions
Than It Is To Actually Achieve Them
Follow My Posts And Links-Backs
To Know What's Really Going On
JMO
FY REVENUE GOAL NOT ACHIEVABLE
* * * * * FISCAL YEAR 2017 * * * * *
WHAT IS NEEDED FOR $22M REV
To achieve FY 2017 Revenue of $22M
at the current ave of $91.18 per Script,
they would need to sell 241,281 Scripts.
Mon-Sat Minus Holidays = 302 W-Days
Need To Ave = 799 Rx / W-Day
Need To Ave = 20,107 Rx / Month
Need To Ave = $1.83M Rev / Month
$22M REV GOAL STILL NOT ACHIEVABLE
These All Need To Be A Rolling Average
And Not Just The "Once-or-Twice" Occurrence
In Which Mar-&-Aug Have The Most 27 W-Days
https://www.timeanddate.com/calendar/
JMO
Q1 HEADING INTO CONTRACTION
No Matter How You Look At The Data
As Long As It Is Consistent With Itself
The Trend Clearly Shows Contraction
ROUNDED DATA FROM COMPANY
JAN 2016: 15.5K Rx / 24 W-Days = 646
FEB 2016: 16.7K Rx / 24 W-Days = 696
MAR 2016: 18.6K Rx / 27 W-Days = 689
APR 2016: 16.5K Rx / 26 W-Days = 635
MAY 2016: 17.5K Rx / 25 W-Days = 700
JUN 2016: 18.0K Rx / 26 W-Days = 692
JUL 2016: 16.6K Rx / 25 W-Days = 664
OLD AVE: 119.4K Rx / 177 W-Days = 675
THEN A SMALL GROWTH SPURT
Spurt Averaged 61 Extra Rx Per W-Day
AUG 2016: 20.0K Rx / 27 W-Days = 741
SEP 2016: 19.0K Rx / 25 W-Days = 760
OCT 2016: 18.6K Rx / 25 W-Days = 744
NOV 2016: 18.5K Rx / 24 W-Days = 771
DEC 2016: 18.0K Rx / 26 W-Days = 692
JAN 2017: 17.5K Rx / 24 W-Days = 729
FEB 2017: 16.5K Rx / 23 W-Days = 717
NEW AVE: 128.1K Rx / 174 W-Days = 736
GROWTH HAS NOW FLATTENED
NEW AVE: 128.1K Rx / 174 W-Days = 736
Reflects Average Obtained After Small
Growth Spurt During Middle Of Year.
( Spurt Added 61 Extra Rx Per W-Day )
You Can See Growth Is Slowing Down
And Appears To Now Be In Contraction.
CONTRACTION BEGINS TO SET IN
THE MARCH GROWTH PREDICTION
MARCH "SHOULD" BE AROUND :
EVEN: 19.87K Rx / 27 W-Days = 736
Each New Month Will Pull The Average
Up Or Down Into Growth Or Contraction
IF MARCH IS BELOW 736 = NEG GROWTH
IF MARCH IS ABOUT 736 = NO GROWTH
IF MARCH IS ABOVE 736 = POS GROWTH
JMO
Management Selling
They Thought They Could Trick You
But They Had To Sell Before Everything
Went Straight To Hell In A Handbasket
Then Painted After-Hours With 9 Shs
Sold Last Friday
For Trade Date: Apr 1, 2017
K Weaver Misc = 1,313 At 0.518
John Melo, CEO = 37,580 At 0.518
J Cherry, Pes R&D = 11,248 At 0.0518
Total Sold This Day = 50,141
Filing Date: April 5, 2017
Recent Insider & Form-4 Selling
Oct 14, 2016 - Mar 30, 2017
17,764,002 Shs by Temasek/Maxwell
Nov 2016 - Apr 2017
126,407 Shs by Management
TOTAL SOLD = 17,890,409
Current March 2017 Outstanding Shs
Guessing Equivalence Of 372,608,973
( Sept 2015 The OS Was 140,374,297 )
ATM (At The Market) Dilution
The ATM could be another 100,000,000 Shs
diluted into the OS and Float at today's pps.
This 1st Qtr Will Be Bad
They won't even be able to stay ahead of their own dilution. And that's on top of all the debt, bad deals, and interest payments. They have no real cash. They are allowed to pay some of the interest on their debt with common shs, adding to the dilution. They won't meet their collaboration requirements, and will be forced to make those bad deals even worse. They will have to do a Reverse-Split.
Heading Down To The 30's
The New Top is still $0.444. And heading down into the 30's. Don't be fooled by little technical bounces on the chart. The Market Makers may take advantage of you that way. They know what's coming ... A 1-for-20 Reverse-Split.
Just My Opinion
Thanks RFB - EOM
Almost Hit The Target
That would have been around $0.02175 ,
if it wasn't painted with a little $1000 order.
SEASONALITY IS A FARSE
If anything, the winter season should
boost Prescription sales. Statistically
there is more illnesses during that time.
But the Company instead comes up with this
excuse, to explain away the weakening sales.
JMO
TRADER PARALYSIS
This May End Up Right At The Mean
$0.02175
Because Nobody Knows What To Do
CONTRACTION VERIFIED
No matter how you look at the data,
just as long as it's consistent to itself,
the Trend clearly shows the Contraction.
ROUNDING DATA FROM COMPANY
JAN 2016: 15.5K Rx / 24 W-Days = 646
FEB 2016: 16.7K Rx / 24 W-Days = 696
MAR 2016: 18.6K Rx / 27 W-Days = 689
APR 2016: 16.5K Rx / 27 W-Days = 611
MAY 2016: 17.5K Rx / 25 W-Days = 700
JUN 2016: 18.0K Rx / 26 W-Days = 692
JUL 2016: 16.6K Rx / 25 W-Days = 664
OLD AVE: 119.4K / 178 W-Days = 671
THEN A SMALL GROWTH SPURT
AUG 2016: 20.0K Rx / 27 W-Days = 741
SEP 2016: 19.0K Rx / 25 W-Days = 760
OCT 2016: 18.6K Rx / 25 W-Days = 744
NOV 2016: 18.5K Rx / 25 W-Days = 740
DEC 2016: 18.0K Rx / 26 W-Days = 692
JAN 2017: 17.5K Rx / 24 W-Days = 729
FEB 2017: 16.5K Rx / 23 W-Days = 717
NEW AVE: 128.1K / 175 W-Days = 732
GROWTH HAS FLATTENED OUT
The 128.1K / 175 W-Days = 732
Reflects Average Obtained After Small
Spurt Of Growth During Middle Of Yr.
You Can See Growth Is Slowing Down
And It Appears To Now Be Contracting.
CONTRACTION BEGINS TO SET IN
MARCH "SHOULD" BE CLOSE TO
AVE: 19.8K Rx / 27 W-Days = 732
IF MARCH IS BELOW 732 = NEG GROWTH
IF MARCH IS ABOUT 732 = NO GROWTH
IF MARCH IS ABOVE 732 = POS GROWTH
You're Welcome
CONTRACTION CONFIRMED
The Spread Sheet Has Errors
For example: July 2016
16,500 vs 16,600 Scripts
As stated a long time ago,
I used the STD of Mon-Fri, &
considered Federal Holidays.
However, even your own presented
data confirms the Flattening-Out and
then Contraction into this 2017 year.
* * * * P R E D I C T I O N S * * * *
MARCH 2017 NUMBERS - My Est
There Are 23 Working-Days In March
March Revenue = $1,828,706
March Prescriptions = 20,056
Should Ave = 872 Rx / W-Days
Should Ave = $91.18 / Rx
FIRST QUARTER 2017 - My Est
Quarter Revenue = $4,928,396
Quarter Prescriptions = 54,051
Should Ave = 872 Rx / W-Day
Should Ave = $91.18 / Rx
GROWTH PARAMETERS
If Numbers Are Below = Neg Growth
If Numbers Are Same = No Growth
If Numbers Are Above = Pos Growth
The amount of Scripts per W-Day will
reveal that there is no longer growth.
But March & August will have the most
Working-Days (23), so they should show
a higher "perceived" amount by month.
As most other months will seem lower.
JMO
WORKING ON SATURDAY
Yes, I assumed that they were.
And after comparing both the
calculations together, It did not
make any relative difference in
the resulting "Growth Equation"
So I Just Kept It At The Standard
I already thought of that, and
considered it a long time ago.
( What Took You So Long ? )
Q3 AND Q4 CONTRACTION
It Turned Out That Both Of The
3rd & 4th Qtrs Showed A Net Loss
($2,899) And ($5,546) Respectively
And The $209K FY2016 Net Income
Was Way Below My $500K Estimate
And They Actually Missed It By 60% !
2016 FOURTH QUARTER
Revenue = $5,023,973 ---> Only As Expected
Net Loss = ($5,546) ---> Negative Surprise
55.1K Rx / 62 W-Days = 889 Rx / W-Day
$5.02M Rev / 55.1K Rx = $91.18 / Rx
2016 FISCAL YEAR
Revenue = $18,318,567 ---> Only As Expected
Net Income = $209,319 ---> Lower Surprise
EOY Cash = $816K ---> A Small Bright Spot
213.5K Rx / 252 W-Days = 847 Rx / W-Day
$18.32M Rev / 213.5K Rx = $85.80 / Rx
OS Increased Over 300M In 2 Yrs
OS = 41,068,344 --- Jan 2015
OS = 344,107,607 --- Dec 2016
And More Dilution To Come
FROM AUDIT ABOUT DILUTION
" We Will Seek To Raise Additional
Funds In The Future, Which May Be
Dilutive To Stockholders Or Impose
Operational Restrictions "
JMO