The Update was certainly appreciated however I agree the broken record continues to play the same tune. They claim to see the light however they fail to execute. Materials selection and vendor MFG. tolerances were never comprehended as being so critical.....?? Amazing that the engineering team was blind to these risks and failed to understand how to mitigate these risks. This means they flatly did not understand the true complexity of the design. They know the target but do not have the knowledge or capability to execute. In my opinion 2016 may be aggressive yet again !
Authentidate Holding Corp. (NASDAQ:ADAT) Update: Authentidate says DVA will not exercise final year under CCHTP program contract
Mar 9th, 2015 · By · Mark Barry
Authentidate Holding Corp. (NASDAQ:ADAT) : According to the most recent information , Authentidate says DVA will not exercise final year under CCHTP program contract. According to the update, Authentidate announced that the Department of Veterans Affairs has informed the company that it does not intend to exercise the fourth and final option year under its Care Coordination Home Telehealth Program contract for devices and services. The companys agreement with the VA, which was originally awarded in April 2011, consisted of a base year and four one-year option years that were exercisable at the VAs sole discretion. The current option year under the contract expires on May 15 and the company anticipates that it will complete its transition process with the VA by that date. In response, the company will immediately implement plans to reduce its operating costs to better align its resources with its anticipated revenue over the next several quarters and the growth opportunities that it intends to pursue. These changes include a reduction in staff and the use of external resources and other costs. The company also expects to report significantly reduced revenues over the next several quarters due to the non-renewal of the VA contract.