On April 11, 2005, the Board of Directors (the "Board") of the Registrant (the "Company") approved a restructuring plan under which the Company will consolidate its operations and
discontinue the production of its HIV-1 Urine EIA and supplemental HIV-1 Western Blot serum and urine diagnostic tests that are currently manufactured at its facility in Rockville, Maryland. The Company notified employees affected by the restructuring on April 19, 2005. Although the EIA and Western Blot products are strong diagnostic tools with an established market niche, the restructuring plan directs the Company to focus its efforts and resources on its rapid HIV diagnostic and HIV-1 BED Incidence tests. The plan directs management to pursue options ranging from selling the Company's urine EIA and Western Blot business, in which case the acquirer would likely continue to operate the Rockville facility, to terminating the employees and discontinuing manufacturing operations at the Rockville facility pending a final determination of its disposition.
In conjunction with the implementation of its restructuring plan, on April 18, 2005, the Company entered into a non-binding letter of intent to sell its urine EIA, serum Western Blot and urine Western blot diagnostic test business. The terms of the proposed transaction are currently being negotiated and the Company expects to execute a definitive agreement during the second quarter of 2005.
Additionally, the restructuring plan calls for the Company to close its corporate headquarters in Pleasanton, California and re-staff those functions at a facility the Company plans to lease in the vicinity of Portland, Oregon, where most of the Company's research & development staff is presently based. Current headquarters staff will be retained for the period required to provide an orderly transition. The Board approved the restructuring plan in an effort to reduce the Company's cash burn rate and thereby prolong the resources acquired in its recent Secured 8% Convertible Note financing by consolidating its operations and focusing its capital resources on the global launch of its rapid test product line, initially slated for international introduction.
Because of the uncertainty resulting from the range of possible alternatives with respect to the Company's urine EIA and Western Blot products business, including its potential sale under formalized terms of the letter of intent, the Company cannot currently estimate costs, if any, that may be incurred with respect to the Rockville facility and the related manufacturing equipment and product inventories. Further, certain alternatives may be subject to approval of the holders of the Company's recently issued Secured 8% Convertible Notes. Should a transaction under the letter of intent not be consummated, the Company might incur costs to decommission the facility; on-going facility lease costs, until and if sub-lease opportunities are available; costs associated with the disposition of excess or obsolete inventories and supplies; and on-going lease or lease termination costs associated with leased equipment. The Company will provide estimates of restructuring-related costs when such costs can be reasonably estimated by filing an amendment to this Current Report on Form 8-K. Whether or not the Company consummates a transaction for its urine EIA and Western Blot products business, the cost of terminating employees at its Rockville and Pleasanton locations, including payment of accrued vacation expense, is expected to be approximately $500,000, essentially all of which will be paid in 2005. In the absence of sublease opportunities, the Company is also liable for approximately $190,000 in lease costs from the expected July 2005 closure of its Pleasanton office through the June 2007 expiration of the lease.
690000$ Unkosten für Restruction,das sind ca 70% vom Umsatz im Quartal,wobei jegliche Aussagen über Gewinn fehlen ,aber auch über Cashburnrate
Calypte's revenues for 2004 totaled $3.3 million compared with $3.5 million for 2003, a decrease of $0.2 million or 5%. Urine EIA screening test revenues decreased by $686,000 or 32% to $1,481,000 in 2004 compared with $2,167,000 in 2003. Urine Western Blot sales generally follow a trend similar to that of the screening test and decreased $85,000 or 55%, from $154,000 in 2003 to $69,000 in 2004.
Gross margin decreased from a loss of $2,654,000 (-77% of sales in 2003) to a loss of $3,981,000 (-142% of sales in 2004
Research and development costs increased by $596,000 or 39%, from $1,544,000 in 2003 to $2,140,000 in 2004. $300,000 of accrued severance-related costs attributable to the shutdown of our Alameda, California facility in mid-2004;
aus :Apr 8 2005 7:16AM ET
CALYPTE BIOMEDICAL CORP files Form 10KSB/A, Annual Report
schliessen eine Firma nach der anderen!
-aber dafür mal wieder ne Wandelanleihe!
Although we have not yet issued any shares upon the conversion of the 8% Convertible notes or the exercise of the warrants, the notes are convertible at $0.30 per share into an aggregate of 26,666,667 shares of common stock; the Series A warrants are exercisable six months after closing at $0.325 per share to purchase an aggregate of 26,666,667 shares of common stock and the Series B warrants are exercisable six months after closing at $0.325 per share to purchase an aggregate of 12,000,000 shares of common stock.
naj dann macht man mal wieder wie gehabt einen Reverse Split um die Zahl der Aktien zu verringern!
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