Navigation Links
Nuvo announces second quarter 2008 financial results
Date:7/31/2008

e terms of the Pennsaid Plus License Agreement as it did not reach a required milestone by May 21, 2008.

Additionally, the Company and its Canadian distributor, Paladin, reached an agreement to amend the Pennsaid and Pennsaid Plus licensing arrangements. Under the terms of the new arrangements Paladin's wholly owned subsidiary, Squire, agreed to make payments totaling $2.5 million to the Company in lieu of future payments relating to Canadian sales of Pennsaid prior to January 1, 2011 and to repay certain receivables. Subsequent to January 1, 2011, Squire will pay the Company a royalty on all Canadian sales of Pennsaid. Squire also invested $2.0 million in the Company by way of a two-year convertible debenture. This debenture bears interest at 8% per annum and is convertible into Nuvo common shares at a price of $0.138.

On July 29, 2008, Paladin informed the Company that it had received notices of reassessment from the Canada Revenue Agency related to Squire (formerly Dimethaid Health Care Ltd. ("DHCL")) for the 2005 and 2006 tax years (the "Tax Years"). These reassessments contained adjustments relating to transactions occurring in 2005. Under the terms of the August 2005 agreement (the "Sale Agreement") whereby the Company sold DHCL to Paladin, the Company provided certain indemnities (the "Indemnities") related to DHCL's tax assets. The Company disagrees with the position taken by the CRA, believes it is without merit and intends to contest the reassessment. The Company estimates its obligations under the Indemnities to be in the range of $3.5 million to $4.5 million, plus interest and penalties of approximately $1.7 million related to the Tax Years. In addition, the Company expects the obligation under the Indemnities to increase once interest and penalties are assessed on Squire's 2007 tax filings. The CRA may take action to immediately collect 50% of the reassessed amount from Squire for the Tax Years as it is permitted to do. As a result, Squire
'/>"/>

SOURCE Nuvo Research Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14

Related medicine news :

1. NeoGenomics Announces Results for the Second Quarter of Fiscal Year 2008
2. Cardiva Medical Announces Presentation at BMO Capital Markets 2008 Focus on Healthcare Conference
3. Lyriana Announces Antidepressants Now Linked to Declining Libido in Women
4. Hologic Announces Third Quarter Fiscal 2008 Operating Results
5. VendorClear™ Announces Limited Release of New Products for Healthcare Facilities and Vendor Representatives
6. The Quantum Group Announces 2nd Statewide Contract
7. STERIS Corporation Announces Fiscal 2009 First Quarter Results
8. CutisPharma Announces Strategic Collaboration with Rite Aid Corporation
9. Cell Therapeutics, Inc. Announces $12 Million Equity Line of Credit
10. BrainLAB Announces 510(k) FDA Clearance of Monte Carlo Dose Engine for Stereotactic Radiosurgery and Radiation Therapy
11. Align Technology Announces Second Quarter Fiscal 2008 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/29/2014)... the nation,s largest interdisciplinary organization devoted to ... Bowers, PhD, RN, FAAN, of the University of Wisconsin-Madison ... Minority Issues in Gerontology Outstanding Mentorship Award. , This ... has exemplified outstanding commitment and dedication to mentoring minority ... presentation will take place at GSA,s 67th Annual Scientific ...
(Date:7/29/2014)... the nation,s largest interdisciplinary organization devoted to the ... PhD, of Cornell University as the 2014 recipient of ... in Behavioral and Social Gerontology. , This distinguished honor, ... and social gerontology. Individuals who have received their doctorate ... is given by GSA in conjunction with the Margret ...
(Date:7/29/2014)... The report “Filling Equipment Market by Industry (Food, ... Weight), Process (Manual, Semi-Automatic, Automatic), Product (Solid, Semi-Solid, ... to 2019”, defines the filling equipment market and ... segments with analyses and projections of the market ... of value. It also identifies the driving and ...
(Date:7/29/2014)... ENCINITAS, Calif. (PRWEB) July 29, 2014 ... prescription drug abuse directly at the source? That’s the ... , an innovative prescription drug abuse risk program developed ... from hundreds of applicants worldwide to be part of ... September 10-12 in San Francisco, CA. The Hive is ...
(Date:7/29/2014)... INDIANAPOLIS -- With the increasing use of electronic ... a growing demand for a computerized version of ... United States. In a new study, researchers from ... Regenstrief Institute report that substantial work lies ahead ... Future,s guidelines into computerized prompts for physicians, but ...
Breaking Medicine News(10 mins):Health News:Bowers to receive GSA's 2014 Minority Mentorship Award 2Health News:Löckenhoff earns GSA's 2014 Baltes Foundation Award 2Health News:Filling Equipment Market worth $8 Billion by 2019 - Report by MarketsandMarkets 2Health News:Filling Equipment Market worth $8 Billion by 2019 - Report by MarketsandMarkets 3Health News:Filling Equipment Market worth $8 Billion by 2019 - Report by MarketsandMarkets 4Health News:SafeUseNow Selected to Showcase at TEDMED Hive 2014 2Health News:SafeUseNow Selected to Showcase at TEDMED Hive 2014 3Health News:Study: Pediatric preventive care guidelines need retooling for computerized format 2Health News:Study: Pediatric preventive care guidelines need retooling for computerized format 3
... chronically exposed to family turmoil, violence, noise, poor housing ... strain// than other young people. ,However, when ... these negative physiological changes, reports a new study from ... that the cardiovascular systems of youths who are exposed ...
... cancer is so much more prevalent in men than women: ... in men than women plays a role in the development ... new types of treatment with the disease. ,In ... Chawnshang Chang, Ph.D., of the University of Rochester Medical Center ...
... stent therapy and bypass surgery for coronary artery disease ... event within 30 days after the procedures// , according ... similar outcomes three years after treatment. Patients with coronary ... bypass surgery to reroute the arteries' blood flow or ...
... the carotid artery by dental x-rays is not enough evidence ... a review published in the Journal of the American Dental ... leading causes of death and disability among adults in the ... and nutrients to the brain bursts or becomes clogged by ...
... head and neck cancer that targets multiple peptides (parts ... tumors. ,The researchers created the vaccine ... is mutated in most cancers and associated with poor ... also expresses unaltered, or "wild-type," p53 peptides in tumors. ...
... a dermatologist has a higher survival rate than by a ... to detect// the tumor in its early stages which can ... ,Individuals whose melanoma is diagnosed by a dermatologist may be ... years than those with melanoma diagnosed by a non-dermatologist, according ...
Cached Medicine News:Health News:Adolescents Exposed to Family Turmoil and Violence Face Stress-related Problems 2Health News:Scientists Find Clue for the Prevalence of Bladder Cancer More in Men 2Health News:Scientists Find Clue for the Prevalence of Bladder Cancer More in Men 3Health News:Scientists Find Clue for the Prevalence of Bladder Cancer More in Men 4Health News:Bypass Surgery, Drug-eluting Stents Possess Similar Risk and Outcome 2Health News:Dental X-rays of Carotid Artery Cannot Estimate Stroke Risk 2Health News:Head and Neck Cancer Vaccine Targets Proteins to Create Immune Response 2Health News:Chances of Survival for Melanoma is High When Detected by Dermatologists 2
(Date:7/29/2014)... TAMPA, Fla. , July, 29  2014 ... it has hired John Bournas as ... who announced plans to leave the Society last ... with extensive competencies in the healthcare association industry ... to the Society a clear vision for the ...
(Date:7/29/2014)... LAUDERDALE, Fla. , July 29, 2014 /PRNewswire-iReach/ ... medical service provider, has launched its Medical ... Program.  These services are tailored to the ... excellent standards prompted industry operators to propose that ... MHG Medical,s new program is intended to ...
(Date:7/29/2014)... 29, 2014 According to a ... Trauma Fixation Devices Market - Global Forecast, Market Share, ... global orthopedic trauma fixation devices market is estimated at ... grow at a CAGR of 7.2% from 2014 to ... billion in 2020. Browse the Orthopedic Trauma ...
Breaking Medicine Technology:ISPE Hires Healthcare Association Exec as CEO 2ISPE Hires Healthcare Association Exec as CEO 3MHG Medical Management Services Aims to Change Cruise Industry Standard With New Equipment Maintenance Program 2Orthopedic Trauma Fixation Devices Market is Expected to Reach USD 9.3 Billion Globally in 2020: Transparency Market Research 2Orthopedic Trauma Fixation Devices Market is Expected to Reach USD 9.3 Billion Globally in 2020: Transparency Market Research 3Orthopedic Trauma Fixation Devices Market is Expected to Reach USD 9.3 Billion Globally in 2020: Transparency Market Research 4
... 2007 /PRNewswire-USNewswire/ -- The,following statement may be attributed ... Medical Research (CAMR): , "In the face of ... the stroke of his veto pen deliberately to ... well as endanger,the future health and well being ...
... - Elixir,Pharmaceuticals, Inc., announced today the publication ... (mitiglinide calcium,hydrate) monotherapy, or combination therapy with ... meals. The data were,published in the Abstract ... Scientific Sessions in Chicago, Illinois.,Glufast is an ...
Cached Medicine Technology:President Bush Ignores America's Plea for Support of Stem Cell,Research 2Elixir Pharmaceuticals Announces Clinical Data at American Diabetes,Association Conference Highlighting Ability of Glufast to Maintain,Glycemic Control in Patients with Type 2 Diabetes 2Elixir Pharmaceuticals Announces Clinical Data at American Diabetes,Association Conference Highlighting Ability of Glufast to Maintain,Glycemic Control in Patients with Type 2 Diabetes 3Elixir Pharmaceuticals Announces Clinical Data at American Diabetes,Association Conference Highlighting Ability of Glufast to Maintain,Glycemic Control in Patients with Type 2 Diabetes 4Elixir Pharmaceuticals Announces Clinical Data at American Diabetes,Association Conference Highlighting Ability of Glufast to Maintain,Glycemic Control in Patients with Type 2 Diabetes 5
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
... ARUP Laboratories is a national reference ... laboratory research and development. ARUP offers an ... unique medical tests in clinical and anatomic ... ARUP Laboratories' clients include more than half ...
... Laboratories is a national reference laboratory and ... and development. ARUP offers an extensive test ... tests in clinical and anatomic pathology. Owned ... clients include more than half of the ...
... ARUP Laboratories is a national reference ... laboratory research and development. ARUP offers an ... unique medical tests in clinical and anatomic ... ARUP Laboratories' clients include more than half ...
Medicine Products: