Anyone recall if HDC ever actually sold the 1,360,000 shares of NEO from the original deal back in 2012? I know we got $6.6 million from NEO for violating the terms of the original 2012 agreement (below) back in April of 2019 (via arbitration). Wonder if we still hold the NEO shares or maybe some of them?
January 9, 2012: "NeoGenomics paid $1 million in cash and issued 1,360,000 shares of common stockto HDC in upfront licensing fees. In addition, NeoGenomics will make milestone payments of $500,000 (up to $5 million) for every $2 million in revenue recognized by NeoGenomics based on products and services developed as a result of the licensing agreement. After NeoGenomics recognizes $20 million in cumulative revenue, NeoGenomics will pay a royalty of 6.5 percent on product sales and will share profits from sub-licensing arrangements.
VanOort said NeoGenomics will initially focus on development of LDTs for the detection of prostate, pancreatic and colon cancer. The company will also develop interpretation software targeted at automating cytogenetics and flow cytometry analysis."
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