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BioExx Specialty Proteins Ltd BIXZF

Healthcare Biotechnology
"Bioexx Specialty Proteins Inc is engaged in the development and commercialization of processing technologies, for use in the extracting various active ingredients from organic and inorganic materials. The company's primary focus is on the production of proteins from canola and other oilseed feedstocks. Its products include Isolexx, a protein isolate for use in bakery products, meat products, vegetarian food products and meat analogues, and nutritional and protein bars, drinks, and supplements;


GREY:BIXZF - Post by User

BioExx Specialty Proteins Ltd
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Comment by DrAuditon Mar 26, 2012 8:42am
176 Views
Post# 19716827

RE: RE: RE: RE: RE: RE: You guys - At it Again

RE: RE: RE: RE: RE: RE: You guys - At it Again

I get your point. 

My guess is they are holding the books open because there is no objective basis to value the assets. Historic cost is quite large relative to revenue generating value which is effectively zero.  There is no comparable equipment out there so replacement cost can't be determined. 

The auditors should argue the assets need to be written off. Schnarr is arguing not do fast. They have a salvage value in march of x so at least use that at December. 

 

All my guess and just thinking aloud. Once the assets are written off you cannot be a going concern. But you still have the IPR which is where as I have argued the value of the company has been all along. 

Just thinking aloud of course. 

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