Mygameon, I was wondering if you have any comment on the latest inis news. You have been very negative about NERX buying inis's denton r-pharm, but I was interested in you comments. (Is inis a buy under 2 cents or what?)
"International Isotopes Inc Announces Completion of Asset Purchase Agreement Company to Sell Shady Oaks Facility and Linear Accelerator to Advanced Molecular Imaging Systems, Inc.
IDAHO FALLS, Idaho, Dec 26, 2001 /PRNewswire via COMTEX/ -- International Isotopes Inc (INIS) announces the completion of the asset purchase agreement for their Shady Oaks facility and Liner Accelerator with Advanced Molecular Imaging Systems Inc. of Denton, Texas. (AMISI). The sale includes AMISI's assumption of approximately $8.2 million of International Isotopes Inc debt with Texas State Bank, and assumption of another $340,000 of debt associated with Texas Bank leased equipment. International Isotopes Inc will retain a $500,000 obligation and a D&D obligation (valued at approximately $500,000) on the Shady Oaks facility for a period of 6 months or until AMISI completes a renewal of their assumed loans. The AMISI renewal is currently scheduled for January 27, 2002.
Steve Laflin, President and CEO of International Isotopes Inc said, "The completion of this asset purchase agreement is a major step forward for the Company. The reduction of this debt was necessary for the company to continue as an ongoing concern. Although there certainly continues to be financial challenges facing the Company, I am relatively optimistic about our future growth and success. The Company is meeting revenue and growth projections in our Idaho operations and the business appears to be headed in the right direction."
International Isotopes Inc Idaho has historically focused on reactor isotope production utilizing the Department of Energy's Advanced Test Reactor. International Isotopes Inc current operations include contract manufacturing of Co-57 flood sources for gamma camera operational testing and processing of irradiated gemstones. "