Monday, March 02, 2015 8:49:54 PM
Look at it this way: You hire an electrician to perform work at your house and the price is negotiated ahead of actual work performed. When the work is complete the electrician said it cost him more because of certain circumstances perhaps not known at the time of negotiation and he requests additional payment. You respond "No". He files a claim for additional costs be believes are due him (equitable adjustment). In this case the Government denied his request. The electrician appeals to the Armed Forces Board of Contract Appeals. Both sides present their case and the Board rules.
Apparently the AFBCA agreed with OPXS. The Government has a right to appeal.
Its just a legal process to settle costs on claimed additional incurred costs. The "positive impact on working capital" only means OPXS feels their claim for additional costs is warranted. If they lose their alleged loss is already realized, if they win their bottom line benefits.
Its the way business is settled when two parties cannot come to agreement. Nothing more, nothing less.
Recent OPXS News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:23:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:15:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/22/2024 08:46:32 PM
- LifeVantage Appoints Dayton Judd to the Board of Directors • GlobeNewswire Inc. • 02/15/2024 09:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/24/2024 02:30:11 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 01/22/2024 09:05:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/10/2024 09:30:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/10/2024 09:22:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/05/2024 11:04:26 AM
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