Not a company per se. GCVR stands for Genzyme Contingent Value Rights. It was a bit of a sweetener given to Genzyme shareholders when Sanofi bought them out. If certain "milestones" were met Genzyme shareholders would receive additional cash. Thus far no milestones have been met.
The latest 10-q just filed shows how grim Swisher's circumstances were. At quarters end they had about 1 million in cash down from 7 million on 06/30. About a week or two worth. Without the Eco deal they were left with no way to pay bills short of a bankruptcy. At this point all that is left is the wait to see how much of that 40 million will be left for the shareholder distribution. Swisher yet again goes over this in the 10-q. Read if carefully especially the part about the clawback provision. That should give anyone pause who is thinking of buying the common here in hopes of a payback above where the common is now.
Perhaps as part of their asset purchase they also acquired some of Swishers trademarks. The name Swisher does have some value and has been around long before Wayne H and Steve B took them over in 2004.
Not sure what you mean by "run it" If you mean the public company Swisher that certainly isnt true. Eco bought 40 million in cherry picked assets. That they will run or absorb. The surviving Swisher has the 40 million in cash and a boatload of liabilities pending. That Swisher is going to be delisted at some point at the company's request and then liquidated. All of this is in their assorted filings. What if anything will be left for the remaining shareholders remains to be seen but it will be way less than the 40 million. That part is in the filings as well. I cant imagine why Eco would want anything to do with the now shell company Swisher that is left. Their whole agreement was very carefully drawn up to preclude their having any responsibility for Swisher now or going forward. The $1.04 the common is selling for now may in short order look very generous.
Remember-Swisher already announced they are going to move to be delisted period. At some point we wont even be able to sell.All we will be able to do is wait and see what will be left in say 3 years or so. That is also in the filings.