I assume that the consolidated financials posted in December were for Veneto legacy, since the majority of Medoc’s demise occurred last Spring. Generex closing all of the pharmacies, per the recent press release, obviously has closed off that revenue stream. Which isn’t necessarily bad at all, if there were too high of operating losses or overwhelming regulatory scrutiny when owning a pharmacy and MSO.
So, that’s all I’m asking in what then is Veneto currently? An earlier Gnbt press release said the first tranche purchase of Veneto assets earned the majority of the $66 million in previous 12 month revenue. That’s the pharmacy and lab side. Hopefully, the amended Q gives better insight, although we probably need a cleaner quarter or two (deal wasn’t fully consummated in the q we are reading.)
Also, it will be of importance to understand how is the MSO performing? I only ask because we read in a filing:
“on November 1, 2018 the Company restructured its MSO model by extinguishing the existing MSOs and allowing the physician investors to either transfer their existing investment to a new single MSO or sell back their existing investment to the Company for a contractually determined buyout figure.”
I think that’s a reasonable question for a Gnbt shareholder to ask regarding Veneto restructuring their MSO on November 1. I believe they had to do that since their planned sale of the MSO portion of their company occurred the next day, November 2. That’s being fair to the physicians. It will or would be interesting to know if there were buyouts or did the majority transfer their MSO investment into the NDS MSO.
Terry can clear out the old bad elements while retaining all the good. The legal overhang on that company is very high. NuGenerex can take the good and hopefully clear away to move out from those clouds. Is that old team eventually replaced? All questions someone can ask politely in a CC. But, think that in a non dilutive fashion Generex has control of a revenue generating entity that has shown the ability to earn significant revenue. So, don’t take questions as being bad, it’s how you learn of your investment. We own our Gnbt shares, and we manage our investments. So we need to do our due diligence. That’s all.
On the 8k
Inter-company transactions occur between two entities of the same company. These transactions, say if revenue, can’t be reported as such or your consolidated financials don’t offer an accurate view of the company’s financial state. To be recognized as revenue it would need to involve an unrelated company or party.
So, that’s all I’m asking in what then is Veneto currently? An earlier Gnbt press release said the first tranche purchase of Veneto assets earned the majority of the $66 million in previous 12 month revenue. That’s the pharmacy and lab side. Hopefully, the amended Q gives better insight, although we probably need a cleaner quarter or two (deal wasn’t fully consummated in the q we are reading.)
Also, it will be of importance to understand how is the MSO performing? I only ask because we read in a filing:
“on November 1, 2018 the Company restructured its MSO model by extinguishing the existing MSOs and allowing the physician investors to either transfer their existing investment to a new single MSO or sell back their existing investment to the Company for a contractually determined buyout figure.”
I think that’s a reasonable question for a Gnbt shareholder to ask regarding Veneto restructuring their MSO on November 1. I believe they had to do that since their planned sale of the MSO portion of their company occurred the next day, November 2. That’s being fair to the physicians. It will or would be interesting to know if there were buyouts or did the majority transfer their MSO investment into the NDS MSO.
Terry can clear out the old bad elements while retaining all the good. The legal overhang on that company is very high. NuGenerex can take the good and hopefully clear away to move out from those clouds. Is that old team eventually replaced? All questions someone can ask politely in a CC. But, think that in a non dilutive fashion Generex has control of a revenue generating entity that has shown the ability to earn significant revenue. So, don’t take questions as being bad, it’s how you learn of your investment. We own our Gnbt shares, and we manage our investments. So we need to do our due diligence. That’s all.
On the 8k
Inter-company transactions occur between two entities of the same company. These transactions, say if revenue, can’t be reported as such or your consolidated financials don’t offer an accurate view of the company’s financial state. To be recognized as revenue it would need to involve an unrelated company or party.
