Wednesday, November 26, 2014 12:58:36 PM
So "the estimated cost" then is $9 milliom, of which the estimated "price that will be paid to Inno-Haven" is $6 million.
I wonder how this.....
".....the approximately $3 million we have provided for the facility renovation project to Inno-Haven in certain cost reimbursements."
....relates to that statement and to these things from the 10-K that were mentioned in my original post:
Under Note 6 - Property and Equipment (as of June 30, 2014):
GMP Facility........$ 3,099,780
Lab Equipment.........3,605,514
Note that as of 6/30/13 these numbers were $397,407 and $1,076,793 respectively.
SECURITY DEPOSIT....$1,000,000
Other than in the heading, the phrase "Fixed Assets" appears in the following two sentences only (dated June 30, 2014):
During the reporting period, InnoHaven, LLC, acquired fixed assets on behalf of the Company from third party vendors behalf of the Company at 1 Controls Drive, Shelton, Ct......$4,500,000
During the reporting Period, Thera Cour Pharma, Inc acquired fixed assets on behalf of the Company from third party vendors......$528,720
I guess, but cannot be certain, that that means that those two entities arranged for the company to acquire whatever fixed assets are referred to and the company itself paid for them.,,,either reimbursing the parties named or paying the vendors directly. There is no liability on the balance sheet to indicate that the entities "acquired fixed assets on behalf of the Company from third party vendors" and are still owed for them. It's not clear from the statements that such fixed assets might not be part of the "cost to build & refurbish" that will eventually be part of the purchase price....or whether they are part of the Property and Equipment assets provided earlier.
(For example, how does "the approximately $3 million we have provided for the facility renovation project to Inno-Haven in certain cost reimbursements" fit with "During the reporting period, InnoHaven, LLC, acquired fixed assets on behalf of the Company from third party vendors behalf of the Company at 1 Controls Drive, Shelton, Ct......$4,500,000", made more confusing by the fact that the reporting period should only include fixed assets acquired during the fiscal year.)
It will be interesting to see how this turns out. Perhaps the sentence that I overlooked and that you found will alleviate some concerns. Personally I don't think that it provides the clarity that one should expect of the reconciliation of text to financial statements that one normally finds in a 10-K. Even though it appears to be a straightforward statement it only adds to the confusion given the items noted in the rest of the filing.
"I ated the purple berries"
Recent NNVC News
- NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • InvestorsHub NewsWire • 05/02/2024 02:07:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/16/2024 09:53:32 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/14/2024 09:55:35 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/19/2024 09:44:48 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 12/04/2023 09:08:49 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 10/13/2023 08:30:41 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 09/28/2023 08:44:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/01/2023 08:46:45 PM
- Clinical Trial of Broad-Spectrum Antiviral Drug NV-CoV-2 is Progressing Well, Says NanoViricides - NV-CoV-2 is Positioned to Fulfill Many Unmet Medical Needs • InvestorsHub NewsWire • 07/06/2023 03:16:37 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM