The Medipattern Corporation V.MKI

Monthly scan counts

[segltech]

If scan counts were good in Oct and Nov, we should hear from the CEO in early Dec.

Otherwise the scan count will appear in the next qtry report next year.

Why did the CEO make the statement on TV that the business would be cash positive when he now has to make a loan of 1 million $, on ridiculous terms, to keep the business afloat!!!!

Is the scanning business so bad that we have to spend most of the companies coppers to purchase another business to subsidize revenue. This seems a really desperate strategy. It would have been much more prudent to concentrate efforts to fix the core scanning business and make it cash positive prior to acquiring another business.

I guess I am dead in the water with this one.I will just have to wait and see and really examine cosely this CEO says in future.

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[Razorius]

Thats the dilemma right now:  Have scan counts picked up enough during Nov/Dec or are we gonna need more financing?  I like the part about freezing salaries but the not the possibility of more financing... Subsequent to September 30, 2012 The Company initiated significant cost reduction initiatives to minimize monthly cash expenses and allow available financial resources to focus

[knoll]

I imagine he could have done an offering instead of a loan for financing. They didnt. I'm sure both senerios was concidered before either was done. The fact they chose the loan leads me to believe they were thinking short term. Visualize:Vascular (sounds like State approvals held things up) and the smart coach was to role out in October, I didn't expect to see their effects on this