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Vermillion, Inc. Message Board

  • marlin888 marlin888 Nov 14, 2012 9:07 AM Flag

    From 10Q - more uncertainty, more mismanagement, more ineffectiveness

    ""On October 12, 2012, we paid Quest Diagnostics approximately $5,894,000 of principal and $7,000 of accrued interest which we believe represents payment in full of all outstanding principal and interest under the secured line of credit. We continue to show the amount of the liability as $7,000,000 as of September 30, 2012 given that Quest Diagnostics has not affirmatively acknowledged that the $1,000,000 milestone was met."

    Seems to me that Quest is demanding another $1,000,000

    Why is so much so unclear, so poorly executed and so poorly managed?

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    • Wow, you read that as Quest Demanding another $1,000,000?
      Quest has not acknowledged that Vermillion met a milestone. Not acknowledged does not mean they are demanding...
      This is the milestone...

      (i) $1,000,000 for each application that allows a licensed laboratory test to be commercialized, with a maximum of three applications for $3,000,000

      Pretty sure that Quest should acknowledge that for OVA1.

      • 1 Reply to dsplante
      • Correct - Quest NOT recognizing has milestone has been may or may not mean it is demanding an additional $1M. That said why would Quest not recognize if milestone was clearly hit? Happy to be wrong but very muddy. It is not unreasonable to assume a position that Quest is therefore asking for another $1M. Always something with VRML - right?

        Clearly poorly managed as can be seen by results, poor stock performance and lack of credibility.

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