They've already sold the building. As to the hyperthermia business, you may be right, or it could simply mean the company is looking for strategic partners, as Clint stated in the last conference call.
She filed a suit because she was afraid of Yan. He called her at home and threatened her ("You'll be sorry..."). She is a single woman and living alone; this must have been very disturbing for her, as you can imagine. I can't say that I blame her, but she should have filed a restraining order. I'm not sure what she is trying to accomplish by filing a suit for pain and suffering of $25k. Maybe should should have filed a suit for harassment. And then blown the whistle by filing a complaint to the SEC or FTC for the rest. It seems that the suit was filed in haste, just reading it. It rambles on and on without a clear justification for corporate malfeasance.
True, but they've already stated in the last 10-Q, the sale would be immaterial. My point is they need a minimum on $8.2M to avoid dilution. If you want the model, e-mail my yahoo ID and I will send it to you.
They all jump into the fray. Have you ever been involved in one of these? I have. They get consolidated. These are ambulance chasers.
you haven't proven it's fraud. Read the court filing. All claims of company malfeasance are "secret" - Sarbanes Onxley, etc.
Regarding SunTrust as an investment banker, at least they are better than Roth or Maxim.
The spreadsheet model I developed shows they need $8.2M for the hyperthermia business to avoid dilution assuming they hit their strategic plan targets.
If they can find a lead plaintiff the suits get consolidated. Any settlement comes from insurance not cash on hand.
Did you read the court filing? Mostly harassment case. The only claims that might have merit from a criminal standpoint are the violation of Sarbanes Onxley and perhaps the UL issue. But there is no detail given for either. And in the UL claim she probably lacks standing. There is no mention that the company actually sold UL labeled items that had not been approved, which would be a violation of FTC laws. This is a civil complaint and not a criminal whistleblower situation.
Were you on margin? They sent me an e-mail which stated that margin requirements had gone from 25% to 100%, so they sold your shares if you were on margin. They have to do that to protect themselves.
I believe the former CEO said they sell for $2k a piece and that 1.5 are used on average per procedure. If anyone remembers otherwise, please let me know. Cost to produce is only 10% of that.
If they can get a lead plaintiff, they will go to court. Have had it happen a number of times. You only get 6 cents on the dollar for your losses. Not worth the time in most cases, as these suits go on for 2-3 years.
The Rosen Law Firm, P.A., a global investor rights firm, announces it is investigating potential civil securities claims against TCP International Holdings Ltd. (TCPI) resulting from allegations that the Company may have issued materially inaccurate statements about the Company’s true financial condition and prospects.
The Rosen Law Firm, the suit is filed by Laura Hauser, the Company’s General Counsel and Chief Compliance Officer, claiming that the Company and its CEO violated federal law, including the Sarbanes-Oxley Act of 2002. This adverse news caused to Company’s stock to fall over 50% in intraday trading on February 27, 2015.
You're a little confused. The machine that PRSN is selling cost about $50k and they are not necessarily selling them to doctors. It's a fee per use program, where the doctor pays to rent the machine on an as-needed basis. The company doesn't have to build as many that way and can cart them to the hospital where and when needed. They make money off the antennas, which have a 90% gross margin.
The other business which you are referring to, hyperthermia, is the one they are selling, and that equipment is bought by the hospital.
Depends on how much cash they get for hyperthermia. By my calculations they need close to $8.4M to avoid dilution, but that assumes they hit their revenue targets ($5M in 2015, $10 in 2016M, and $20M in 2017) and gross margin (70%).