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:8/30/2015)... ... August 30, 2015 , ... Lizzie’s Lice Pickers , a company ... The company is currently offering lice head checks for just $10, which is a ... a 10% discount on their lice treatment products. “With kids returning to school, it ...
(Date:8/30/2015)... ... August 30, 2015 , ... ... Jeff Fernandez will lead the expansion of global cosmeceutical and skin care brands. ... experience having spent the last 25 years working in operations, purchasing and management ...
(Date:8/29/2015)... ... 30, 2015 , ... Electronic Informed Consent for Clinical Trials:, ... EDT, http://www.fdanews.com/electronicinformedconsent , The simple fact about electronic informed consent is ... Clinical trial sites can now use audio, video and interactivity to educate participants ...
(Date:8/29/2015)... Irvine, CA (PRWEB) , ... August 29, 2015 , ... ... on a mission. His mission is to increase acceptance of the chiropractic field ... pain medications that further debilitate them. Although Chiropractic was made available to the ...
(Date:8/29/2015)... York, NY (PRWEB) , ... August 29, 2015 ... ... successful results and include treating the localized area with stretching, soft tissue manipulation. ... a neutral pelvic position have shown through research to improve treatment outcomes. ...
Breaking Medicine News(10 mins):Health News:Lizzie’s Lice Pickers Announces Back to School Head Check Special and Discounted Lice Treatment Products 2Health News:NPI Executive Vice President Leads Cosmeceutical Expansion 2Health News:FDAnews Announces — Electronic Informed Consent for Clinical Trials: Best Practices Webinar, Sept. 15, 2015 2Health News:FDAnews Announces — Electronic Informed Consent for Clinical Trials: Best Practices Webinar, Sept. 15, 2015 3Health News:FDAnews Announces — Electronic Informed Consent for Clinical Trials: Best Practices Webinar, Sept. 15, 2015 4Health News:The Patriot Project brings Chiropractic Care to the Armed Forces and their Families - Rapid Release Technology Joins the Effort to Recruit more Doctors to Pledge 2Health News:NEW APPROACH for Treatment of Recurrent Hamstring Strains and Hamstring Tendinosis is Available for the First Time in NYC 2Health News:NEW APPROACH for Treatment of Recurrent Hamstring Strains and Hamstring Tendinosis is Available for the First Time in NYC 3
... environmental factors like sunlight and cigarette smoke have discovered how ... to tolerate the DNA damage that leads to cancer and ... protein called DNA polymerase eta (Pol eta) and accompanies it ... When Pol eta is not present, alternative error-prone polymerases ...
... CINCINNATI--Emergency medicine researchers with the University of Cincinnati (UC) ... but dangerous condition in the emergency room. Pulmonary ... which a blood clot, usually from the legs, travels ... artery. But the most common way of testing for ...
... be made from some of the same parts used ... a way to measure the growth and drug susceptibility ... microscope. The new biosensor promises to speed treatment ... Richard Smalley Distinguished University Professor of Chemistry, Physics and ...
... at The University of Nottingham have brought cancer cells back ... The discovery could form a powerful new technology platform for ... Breast cancer is diagnosed in about 1.4 million women ... from the disease. A common cause of cancer is when ...
... This release is available in French . ... Ph. D student in biology at Universit du Qubec ... and Adjunct Professor Elsy Edouard, UQAM, Department of Biological ... in research on B-cell acute lymphocytic leukemia, a disease that ...
... the last few years, researchers have used a type of ... help them map changes in blood flow in the brain ... way to analyze fMRI data, which could improve is reported ... Design . Scientists have known since the 1890s that ...
Cached Medicine News:Health News:Chaperone enzyme provides new target for cancer treatments 2Health News:'Selective strategy' recommended for CT scans in emergency departments 2Health News:See how they grow: Monitoring single bacteria without a microscope 2Health News:See how they grow: Monitoring single bacteria without a microscope 3Health News:Scientists bring cancer cells back under control 2Health News:Discovery of a gene associated with a leukemia mostly affecting children 2Health News:Functional boost for magnetic resonance imaging 2
(Date:8/27/2015)... , Aug. 27, 2015  Eli Lilly and Company ... Global Healthcare Conference on Thursday, September 17, 2015. ... of Lilly Oncology and Richard Gaynor , M.D., ... for Lilly Oncology, will participate in a fireside chat ... A live audio webcast will be available on the ...
(Date:8/27/2015)... , Aug. 27, 2015   Women Grow , the fastest-growing ... is partnering with the Cannabis World Congress & Business ... to produce 15 business-focused educational sessions. CWCBExpo in LA will ... Angeles Convention Center in Los Angeles, ... the West Coast for the marijuana industry. The ...
(Date:8/27/2015)... Aug. 27, 2015  MiMedx Group, Inc. (NASDAQ: ... human amniotic tissue and patent-protected processes to develop ... Wound Care, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic ... corrected the multiple inaccuracies in the press release ... the recent rulings from the Patent Trial and ...
Breaking Medicine Technology:Lilly to Participate in Morgan Stanley Global Healthcare Conference 2Cannabis World Congress in Los Angeles Boasts Women Grow Sponsored Education 2Cannabis World Congress in Los Angeles Boasts Women Grow Sponsored Education 3Cannabis World Congress in Los Angeles Boasts Women Grow Sponsored Education 4MiMedx Corrects Inaccuracies In MTF Press Release Regarding The Recent Rulings From The Patent Trial And Appeal Board 2MiMedx Corrects Inaccuracies In MTF Press Release Regarding The Recent Rulings From The Patent Trial And Appeal Board 3MiMedx Corrects Inaccuracies In MTF Press Release Regarding The Recent Rulings From The Patent Trial And Appeal Board 4
... 2011 Boston Scientific Corporation (NYSE: BSX ) ... to fund the "Donald S. Baim, M.D., ,75 Scholarship Fund" ... the late interventional cardiology pioneer and Yale School of Medicine ... Officer from 2006 until 2009, when he died unexpectedly. ...
... Calif., Feb. 15, 2011 Viral Genetics, Inc. (Pink Sheets: ... M. Karen Newell Rogers and Advisor Mr. Richard Gerstner will ... for Lyme, Inc. The award presentation is set for the ... Dr. Newell Rogers is being recognized for her research on ...
Cached Medicine Technology:Boston Scientific Establishes Endowment for Donald S. Baim, M.D., Scholarship at Yale School of Medicine 2Boston Scientific Establishes Endowment for Donald S. Baim, M.D., Scholarship at Yale School of Medicine 3Boston Scientific Establishes Endowment for Donald S. Baim, M.D., Scholarship at Yale School of Medicine 4Viral Genetics' Researcher and Advisor Set to Share Award 2Viral Genetics' Researcher and Advisor Set to Share Award 3
Convenience, Protection, Comfort and Security -- FirstChoice pouches are your product of choice if you are looking for the convenience of a one-piece pouch that is either cut-to-fit or pre-cut to you...
Inquire...
Superior comfort and flexibility are achieved through the revolutionary air pocket technology in the dimpled, ultra-thin SoftFlex skin barrier along with a discreet pouch shape and size....
Inquire...
Medicine Products: