hope the missing revenues from this last quarter,
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Posted On: 04/04/2019 3:31:32 PM
Quote:
hope the missing revenues from this last quarter, due to accounting/auditing, add up to make this a good deal.
I didn’t read the latest updates as revenue that’s missing.
Press release:
“The renegotiation centered around Generex’ continued assessment of the business operations of the acquired assets, including the evaluation of profitability, compliance with regulatory requirements, and organizational performance. / Under the guidance of Terry Thompson, President of NuGenerex Distribution Solutions (NDS) and Chief Operating Officer of Generex, the company has reorganized the Veneto assets to focus on building the MSO business and completely revamping the pharmacy model to yield a better use of capital and to avoid continual regulatory and contractual scrutiny from the established regulators, wholesalers, PBM’s, and insurers. The revised strategy is designed to be fully compliant with no direct pharmacy ownership and replacement of brick and mortar pharmacies with a nationwide network of contracted pharmacies to fulfil the business needs of the company.”
From Joe in that press release:
“We evaluate acquisition targets with multi-level due diligence, companies are audited for financial, operational, and regulatory compliance for the last several years, and the third step is an operational performance evaluation through a quarter. When we find deficiencies in any area, we renegotiate the deal to reflect the true value of the acquired business...”
https://www.globenewswire.com/news-release/20...llion.html
I read it as revenue that had fallen, for example no 8 pharmacies, so Generex re-evaluated and renegotiated. Jmho
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