PositiveID Corporation (fka PSID)

[greaseyfingers]

You posted PSID current liabilities is $4,850,000.

So, according to your information, I'm glad to hear that PSID isn't responsible for paying off their Accumulated Deficit Of Approximately $95 million, which I was concerned about, that I thought would, maybe, bankrupt them and put them out of business..

Accumulated deficit of approximately $95 million, as of June 30, 2012, according to this website link, below..
http://biz.yahoo.com/e/120820/psid10-q.html


Robsct Tuesday, January 22, 2013 6:11:17 AM
Re: greaseyfingers post# 3573 Post #3574 of 3600

Accumulated deficit is not debt. See what it means. Any start up company will have a negative accumulated deficit until they start having revenue. For us and for the operation of the company it doesn't really matter. It's an accounting gimmick.

"What does accumulated deficit mean under stockholder equity on a balance sheet?

Best Answer

It means that since the inception of the company they have lost more money than they have made. i.e. The total of there net income and net loss for each year they have been in existence is a net loss.
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greaseyfingers Tuesday, January 22, 2013 5:10:53 AM
Re: Robsct post# 3555 Post #3573 of 3600

Accumulated deficit of approximately $95 million, as of June 30, 2012, according to this website link, below..

http://biz.yahoo.com/e/120820/psid10-q.html

Financial Condition

As of June 30, 2012, PSID had a working capital deficiency of approximately $3.9 million and an accumulated deficit of approximately $95 million, compared to working capital deficiency of approximately $2.7 million and an accumulated deficit of approximately $86 million as of December 31, 2011.

We have incurred operating losses prior to and since the merger that created PositiveID. The current operating losses are the result of selling, general and administrative expenses and research and development expenses. We expect our operating losses to continue through at least the remainder of 2012.

On January 20, 2012, we received an indemnification claim notice from Stanley related to the matter. We do not agree with the position taken by the CRA, and filed a formal appeal related to the matter on March 8, 2012. In connection with the filing of the appeal, Stanley was required to remit an upfront payment of a portion of the tax reassessment totaling approximately $950,000. We also filed a formal appeal related to the withholding tax assessments, pursuant to which Stanley was required to remit and upfront payment of approximately $220,000. We have agreed to repay Stanley for the upfront payments, plus interest at the rate of five percent per annum, in 24 equal monthly payments beginning on July 1, 2012. To the extent that we and Stanley reach a successful resolution of the matter through the appeals process, the upfront payment (or a portion thereof) will be returned to Stanley or us as applicable. Based on our review of the correspondence and evaluation of the supporting detail, we do not believe that the ultimate resolution of this matter will have a material negative impact on our historical tax liabilities or results of operations.

On August 31, 2011 we received notification that our stock was being delisted from the Nasdaq Capital Market ("Nasdaq") and on September 1, 2011 our stock began trading on the OTC Bulletin Board. The delisting from Nasdaq could adversely affect the market liquidity of our common stock and harm the business and may hinder or delay our ability to consummate potential strategic transactions or investments. Such delisting could also adversely affect our ability to obtain financing for the continuation of our operations and could result in the loss of confidence by investors, suppliers and employees.
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bull_investor Friday, August 24, 2012 5:28:14 PM
Re: atrickpay post# 1248 Post #1253 of 3600

"..PSID is a scam or something.
PSID has actual lines of business. M-Band, DragonFly, iGlucose, Easy Check, Glucochip."

Yes - The products that are listed
--> Have they made any revenue?

As far as I know, they made "ZERO" revenue
--> not even $1000 dollars, for long time now I am waiting to see that day!
Maybe I am wrong, show me. I want to be wrong.

Also, do you know :

1. They have $86 million debt in books -- racked up (SEC Filings)
2. Both Mr.Cargol & Mr.Silverman(while active) - took home around $60k/month including bonus. (SEC Filings)
3. The above products of company have made "Zero" revenue quarter over quarter for long time now. (SEC Filings)

now, ask your same question "is PSID a scam or something?"
I don't know.

Now put that "Fire Sale" by Mr.Silverman somewhere in this picture -- you wonder why?
But do you see something obvious? no?

Disclaimer:- anything expressed above are just my humble opinions only.
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