Monday, March 12, 2018 7:05:33 PM
We will rely on third parties to conduct certain of the research and clinical trials for products using Trappsol® Cyclo™.
The company used to make its own Cyclodextins in its very own manufacturing facility and 40 acres.
But the 10k tells us they basically "sold the farm", so to speak:
For year ended December 31, 2016, our operations used approximately $2,951,000 in cash. This cash was provided primarily by cash on hand, net proceeds of $1,880,000 from equity issuances, and net proceeds of approximately $256,000, after closing costs and repaying our bank indebtedness, from the sale of our office and manufacturing facility and related equipment.
J. Tate used to tout the importance of making their own product and had gobs of videos on YouTube on the building of the facility and now --- POOF! its gone.
Can you tell us who BOUGHT the office and manufacturing facility? Was that office separate from the 40 acres?
Curious investors would like to know????
(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (CONTINUED)
(h) PROPERTY HELD FOR SALE–– In 2015, property held for sale consists of 40 acres of land and buildings located in High Springs, Florida. This property was used for operations and our corporate offices through September 30, 2011, and was sold in 2016. Property is classified as held for sale when management’s intent is to sell the property and the applicable accounting criteria are satisfied. This determination requires management to make estimates and assumptions, including assessing the probability that potential sales transactions may or may not occur. Actual results could differ from those assumptions. Upon designation as held for sale, the carrying values of the assets are recorded at the lower of the carrying value or the estimated fair value, less estimated selling costs. Assets held for sale are no longer depreciated. We periodically review our property held for sale to determine if the carrying value of assets may not be recoverable. If we identify impairment, a loss is recognized for the difference between the carrying amount and the estimated market value of the assets. In 2015, an impairment loss of $125,000 was recorded on this property to adjust its carrying value to $275,000. This property was sold in January 2016 for $275,000.
Recent CYTH News
- Cyclo Therapeutics Presents Encouraging Preliminary Safety Data from Ongoing Pivotal Phase 3 Study and Substudy for the Treatment of Niemann-Pick Disease Type C1 (NPC1) • Business Wire • 09/05/2024 01:05:00 PM
- Kuehn Law Encourages CYTH, ARCH, CEIX, and VGR Investors to Contact Law Firm • PR Newswire (US) • 08/26/2024 01:37:00 PM
- Form 425 - Prospectuses and communications, business combinations • Edgar (US Regulatory) • 08/22/2024 01:37:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/22/2024 01:36:40 PM
- Rafael Holdings and Cyclo Therapeutics Enter Into a Definitive Merger Agreement • Business Wire • 08/22/2024 10:50:00 AM
- Rafael Holdings and Cyclo Therapeutics Enter into a Definitive Merger Agreement • GlobeNewswire Inc. • 08/22/2024 10:50:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 05:50:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 05:49:54 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 05:48:45 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 05:47:47 PM
- Cyclo Therapeutics Reports Second Quarter 2024 Financial Results and Provides Business Update • Business Wire • 08/15/2024 01:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 09:28:23 PM
- Cyclo Therapeutics Announces Notice of Decision to Grant European Patent Application for Treatment of Alzheimer’s Disease from European Patent Office • Business Wire • 07/29/2024 01:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/17/2024 06:35:02 PM
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- Rafael Holdings Reports Third Quarter Fiscal 2024 Financial Results • GlobeNewswire Inc. • 06/14/2024 08:01:00 PM
- Cyclo Therapeutics Achieves Landmark Milestone with Completion of Enrollment of Last Patient in Phase 3 Pivotal TransportNPC™ Trial of Niemann-Pick Type C1 • Business Wire • 05/30/2024 01:00:00 PM
- Cyclo Therapeutics Reports First Quarter 2024 Financial Results and Provides Business Update • Business Wire • 05/16/2024 12:05:00 PM
- Cyclo Therapeutics Reports Full Year 2023 Financial Results and Provides Business Update • Business Wire • 03/18/2024 01:05:00 PM
- Cyclo Therapeutics Announces Issuance of U.S. Patent Covering the Use of Trappsol® Cyclo™ for the Treatment of Alzheimer’s Disease • Business Wire • 03/14/2024 01:34:00 PM
- Rafael Holdings Reports Second Quarter Fiscal 2024 Financial Results • GlobeNewswire Inc. • 03/13/2024 09:04:24 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 03/04/2024 09:33:34 PM
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