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| reads by: cal_pn | 11/23/05 04:55 am Msg: 12075 of 12077 |
| <<< .....I think you will find that if the company, Maxim Biomedical, loses $ 5,000,000 million that Calypte's portion of that loss, 20% or $1,000,000, will be reflected in Calypte's financials. Check with your accountant. Conversely if it earned money Calypte's percentage would also be reflected in its financials..... >>> Now reads, better stop this, you only make a fool out of yourself (which wouldn't be the first time btw). Calypte wanted to get rid of the legacy sales business IN TERMS OF GETTING THE RELATED OPERATIONAL NUMBERS FROM THE BALANCE SHEET (the costs). They have sold the business now it doesn't belong to Calypte anymore. So mission accomplished although you projected that nobody will take it, didn't you? You could have concluded all this from the "pro-forma" column (you might read such SEC filings but obviously don't understand them always). Example: The pro forma number for product sales is for 2005 now: 294 K. (These are BED sales of 2005 exclusively: 39+89+165, legacy sales have been disappeared now). Thus Calypte is not paying the salaries of the related employees in the future (emphasis of job cutting can be found in the PR). Reduction of burn rate was the goal, remember this ? It was not the goal to make a big profit by selling this business (those Maxim guys won’t be complete idiots either), just getting rid of this business (the costs actually) in order to get a breather in terms of financials until rapid tests and BED help to reach break-even. The stake in the new Maxim sub is not a negative but a positive. That is what they got in return, 20% of the Maxim sub. Sure they didn't get cash in return but I personally never expected this realistically because this is not the future of testing although you can still sell some of these tests at present (I always said that it might be tough to find some one at all). Or in other words, they sold the business and GOT MORE TIME IN RETURN. Calypte effectively bought more time and paid with the legacy business. That is what I meant earlier (end of 2004) when I said this was a good management decision. They have got more time until sales of BED and rapid tests ramp up and save the day for the company. Have you heard recently that Siemens sold its mobile communication business to the Taiwanese BenQ. Do you know how they did this ? They actually didn't "sell" it but effectively PAID money to BenQ in order to get rid of it. The transaction costs have been said to be 350 million Euros. BenQ got the business and Siemens is still paying extra, e.g. for future development expenses. Sounds strange, no doubt, but even such a deal can give a company an advantage (e.g. an improved ROI). Yeah well, in the 21th century companies even sell sometimes profitable businesses. Nothing is as simple as you think sometimes. If the Maxim sub makes losses with the legacy tests in the future nobody has to be concerned about it anymore. You won’t find the operational losses on Calypte’s balance sheet from legacy tests in the future that’s the beauty. Reads, have you ever believed that when Calypte produced its usual quarterly operational losses those were “reflected” (your words) on Marr's balance sheet? Come on show it here on the board. You are the one you like to see facts, show it to me now. Don’t ask me why Maxim took this business. I don't know and I don’t have shares of Maxim (and won’t have in the future). Calypte now got rid of this costs and they even have now an additional stake from a second company. If the Maxim sub went down soon, that was tragic for the employees but from Calypte's perspective I don't care at all anymore. It simply doesn't matter at all to me, this is now a different story. And if Maxim does well in the future Calypte has an extra valuable asset. Why is this bad? They achieved what they wanted. Cal | |
Ich finde das ist eine gute Analyse von cal_pn *g*
Gruß
C.O
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