Lexagene Holdings Inc LXXGQ

New Press Release - LexaGene Files for Chapter 7 Bankruptcy

BEVERLY, Mass., Feb. 24, 2023 (GLOBE NEWSWIRE) -- LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) (“LexaGene” or the “Company”), announces that it has ceased operations, laid off its staff, and, together with its direct subsidiary LexaGene, Inc., and its indirect subsidiary Bionomics...read article.

[MrDales62]

All too familiar. Sad

[lscfa]

This stinks. The co had positive working capital of 1,485,787 US at Nov 30 excluding the convertible note payable to its largest shareholder. I suspect this shareholder ends up with all the IP. Mgmt sold us out.  

[ARIMA11]

https://lexagene.com/newsreleases/biopharma-engages-lexagene-in-second-feasibility-study/   As an update to LexaGene’s announcement on December 7, 2022 that it intended to reprice certain common share purchase warrants held by Meridian LGH Holdings, LCC, LexaGene confirms that it will no longer reprice the warrants.  Dr. Regan commented, “The Company originally pursued repricing

[laurencelefou]

Just saw on rally-co.ca that LexaGene has filled for bankruptcy.  I do not know this company, but as a rule, I never invest in a company that is not profitable or has enough cash to cover expenses for at least one year.   Looking at the November 30, 2022, Financial Statements, LexaGene had cash of US$464,131, accounts receivable of US$51,643, accounts payable of US$272,170, lease

[ARIMA11]

Yup. Seen a similar situation where the assest were "sold" to the main shareholders which "re-started" under a different name in the same vertical but stayed private. There are some assets too... Shareholder letter (June 2022) https://www.reddit.com/r/Lexagene/comments/vhe6zz/share_holder_letter_062122/ Manufacturing: We have manufactured 48 MiQLab Systems to date, 16 of which