CFO with experience taking a company to NASDAQ !!!
Record sales - up 27% compared to last year
upward trend 400% increase growth in 4 years
5 million operating profit (3 more than last year)
Great operational efficiency
12 million working capital (without the loan)
8.9 million cash on hand
Positive outlook
Nasrat:
Supply chain has not been impacted (API - no) R&D yes impact
Pleased sales and marketing.
solid progress
Manufacturing facility - sell building - 91 years young. offered to buy the building.
risk reduction - savings in rent - discount 50%, disruption in operations avoided, Clinical trials etc, new equipment is saved.
cost is more than the price of the building - 3-4 million more to move than staying - closing in July.
Owning the building is a better option.
R&D - number 1 priority.
New set of products that stabilize the company.
company can survive - adding more pillars
Received 2 ANDA approvals - 3 clinical trials that contracts are signed for. 2 of the 3 are difficult.
Clinical trials have been affected by COVID.
adderal er and IR are doing very well
Not received Lannett notice - but taking all necessary measures to replace Lannett
Looking at costs and effects for self distribution
It all may amount to nothing
Self sales and Marketing internal is a good thing
Loxapine - has been impacted by supply chain - within 6 month - expect fixing and growth
NASDAQ questions - we will move to NASDAQ when the time is right
We need better fundamentals to get to NASDAQ
Not risking teh company.
Executing on its plans.
Look forward profitable year
- Q&A
No Pfizer news
Sungen questions - how many projects with Sungen.
Sungen were sued by Sun - they changed names etc.
no collaboration or new products - need to reach resolution soon.
R&D - CNS drug - rights were acquired - working on the MONSTER
Salary in cash, bonus in stock
Dexcel - 6 months at least
API procurement - no issues
4 ANDA's - anytime we file, we cannot disclose which one is first.
12 ANDA's are substantial - playing with big boys - all sizes and colors lol
PR's in 2020 - we will issue press release for PR worthy of news.
Debts is preventing going to Nasdaq...
Opioids - landscape is changing
Things are changing
Congress gets a lot of complain that patients who suffer have no solution for pain relive
There is a way to be supplier and not be sued.
If a supplier complies with rules, they can sustain.
It will take us a couple of years
Working on oXY ER
Maybe one of the first ones in the market.
OXY ER anti abuse may be an option.
Risk reward is on our side if we make oxy ER
