look em up hera ya go
Judge's order January 18th, 2011
S8 filing January 20th, 2011
Manadatory Public Disclosure of a material adverse envent..,none
Keep in mind that in his opinion and order the Judge comments on Page 17 that there is a likelihood of Tecnimed prevailing on the Bad Faith claim against ASFX.
On page 31 the Judge further opines that Tecnimed has demosntrated its likelihood of prevailing on the suit's claim of infirngement and suffering irreparable harm.
Additionally the Judge on page 23 has took judicial noticce as to the Auditors Substantial Doubt of a Going Concern Opinion, which ASFX disclosed in its S1 filing.
So the Judge orders an injunction and orders a recall of all the 4000 pieces the Dr. said would be involved in his estimate.
Again 12,000 units were shipped between September and December. if they are accurate in their estimation of 4000 units in the float, that means that 8,000 units were sold thru in 4 months or 2000 a month at $19 per at wholesale, even if you assume that they offered no discounts or other purchase incentives the generated $152k in 4 months or $38k permonth in revenues. Now, if some or much of this inventory is on consignment then they have the issue of no revenue and now incurring $130k in expenses associated with the Court Ordered recall.
Sometime ago I posted that if they had to take goods back from a failed consignment or insufficient sell thru the cost of the process including the retailers imposed fees it would likely be a negative net cash flow. Others on here laughed at my "SPECULATION" and my experience to know that this could happen..Well in this document its clearly stated that $95k is the anticipated cost of this wild speculation. This is as per Dr. Chris' own testimony. So $95k divided by 4,000 units is $23.75 per unit hard cost or a likely net net transactional loss of $4.00 per unit plus the cost of refitting ($ estimated by Dr Chris at $35k).
And this assumes that they gave the trade no purchase incentive....yea right.
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