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PURE Bioscience, Inc. Message Board

  • joshtaeger01 joshtaeger01 May 9, 2013 1:44 PM Flag

    PURE FWP

    Looking for some help here...

    I was looking for the correspondence that Seattle mentioned.

    I found that PURE filed a free writing prospectus (FWP) in Sep 2012 (you can find it on SEC web site). Slide 31 shows a huge increase in sales for FY2012Q4...$400k, compared to less than $250k for each of the first 3 Qs.

    Problem is, PURE's 10K doesn't show $400K revs for Q4, if you do the math. It shows $127K, subtracing the revs for Q1-Q3 from the annual number. They only did $812K for the whole year.

    If you add up the bars on the the slide, it totals *at least* $1M in sales for FY2012, even being conservative with interpreting the values.

    I recall trying to get IVG65 to back up his statement of increasing revs. Maybe he used this prospectus?

    I realize that the FWP was filed before the 10K but it was still after the close the the FY. 6 weeks later they file the 10K and the difference between the FWP and reality is really big.

    Am I wrong? Looking for some education on prospectuses. What discretion does a company have when showing financials on a FWP. There's no asterisk or other indication to show that 4Q rev is a projection or estimate.

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