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Vaso Active Pharmaceutica (VAPH) Message Board

  • texman399 texman399 Mar 12, 2004 3:09 PM Flag

    No Walgreens account? No A/R!

    Not sure how i missed this but here it is from the SEC filings:

    "At September 30, 2003, we had no accounts receivable.

    In accordance with our plan to rebrand the deFEET product as Termin8 and/or Xtinguish, BioChemics has begun to remove deFeet products from the Walgreens drug stores. Since we are in this transition period, there can be no assurance that Walgreens will continue as one of our customers. Although we plan to market our products to other customers, the loss of Walgreens as a customer could result in a substantial reduction in our gross revenue and have a materially adverse impact on our business and on our ability to continue to operate."

    Wow, they decide to rebrand and have NO VISIBILITY as to whether their ONLY big customer will continue to give them shelf space. I have just assumed all along that they will have Walgreens as a channel going forward, now I realize that they never promised they would. This could really get ugly if their single biggest channel that actually carried this revolutionary product decides that the stellar sales so far are enough.

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