Joe, what does this mean? "The non-reliance 8-K
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Posted On: 04/04/2019 4:20:42 PM
Joe, what does this mean?
"The non-reliance 8-K stemmed from the Veneto business lines misposting inter-company revenue as actual revenue. Generex learned of this after the 10-Q was filed, and soon thereafter filed a non-reliance 8-K to safeguard its shareholders. Inter-company revenue are sales between the companies under Generex’s purview, and actual revenue are generated from sales to third parties."
Is the press release saying that the $4.8M of Veneto revenue for the quarter ending 1/31/19 might go down? Was Veneto counting inter company revenue twice essentially?
Also, does that mean their books that looked to be doing $60M/year in revenue were not really doing that much business? If so, why did you not renegotiate for a lower price than $20M in GNBT stock? Because you are also giving them 5.5M shares of Antigen which could be huge and double that purchase price of $20M.
"The non-reliance 8-K stemmed from the Veneto business lines misposting inter-company revenue as actual revenue. Generex learned of this after the 10-Q was filed, and soon thereafter filed a non-reliance 8-K to safeguard its shareholders. Inter-company revenue are sales between the companies under Generex’s purview, and actual revenue are generated from sales to third parties."
Is the press release saying that the $4.8M of Veneto revenue for the quarter ending 1/31/19 might go down? Was Veneto counting inter company revenue twice essentially?
Also, does that mean their books that looked to be doing $60M/year in revenue were not really doing that much business? If so, why did you not renegotiate for a lower price than $20M in GNBT stock? Because you are also giving them 5.5M shares of Antigen which could be huge and double that purchase price of $20M.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.
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