No, day trading is very short term. Typically within minutes, always in the same day, hence the name.
Flipping is much more intermediate term.
Anyone trying "buy and hold" on a stinky pinkie is asking to lose money, but to use that strategy when there's multiple death spirals in place, well, they'll learn quickly.
I've seen nothing to indicate Homedics is paying all manufacturing costs, nor have I seen anything saying they are splitting profits 50/50. In fact, based on the 10K, it appears SPO is bearing most of the manufacturing costs and that is a drag on production.
What's most interesting is revenues in 3Q versus 4Q of 2012. Might want to take a look at those figures. ;-)
Flipping is the only way to go here, IMHO. At least if you don't want to get stuck holding a very large bag.