Teva rumored to annnounce purchase of Pernix on Weds 8/24

Discussion in 'Pernix' started by anonymous, Aug 23, 2016 at 7:18 PM.

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  1. anonymous

    anonymous Guest

    So is TEVA going to close up shop or will we sales reps be part of the deal? Personally, I think John has it in for me. May just update my resume tonight. Couldn't hurt any. Nite
     

  2. anonymous

    anonymous Guest

    More layoffs this morning. Several left in tears. Sad day to see Pernix failing. Chapter 7 coming. Cash burn caused this.
     
  3. anonymous

    anonymous Guest

    What happened this time?
     
  4. anonymous

    anonymous Guest


    Hearing third hand (so do not know if it is true) that mgmt cannot announce reason for the new layoffs (if any) until bankruptcy news is officially announce in PR release (if rumors are true). I assume it will be ch 11 and not ch 7 as Pernix just needs to re-organize, get rid of debt, then restructure. So it will not be the end of the word
     
  5. anonymous

    anonymous Guest

    Another 30+ million loss for the quarter. Not shocked this is expected
     
  6. anonymous

    anonymous Guest

    $2,500,000 loss each week of operations. The cost of doing business? Shhhhhiiiiitttt
     
  7. anonymous

    anonymous Guest

    With debt as high as it is it is unlikely that Pernix will ever be profitable again. Not at 12% interest rates. That is a whole qtr of revenues due each year just to service interest. For a company that's bleeding money and continuing to deliver disappointing sales.
    Total revenue was $36m for 2016q2 with total losses at 31m. That is a $77,000,000 burn in 1q. Only got access to $40m and the well is dry.Hang on. Chapter 11 at least. Possible Chapter 7
     
  8. anonymous

    anonymous Guest

    LAYOFFS
     
  9. anonymous

    anonymous Guest

    Spin this lying managers!!
     
  10. anonymous

    anonymous Guest

    But my manager told me.....
     
  11. anonymous

    anonymous Guest

    Ur manager is a liar and a member of Pernix management. You cannot trust them. If you're a sales rep and want a job for a real company call (701) 873 6175 aks for Geraldine. Good luck to all.
     
  12. anonymous

    anonymous Guest

    maybe that is why the IC report is late...no $$ to pay out
     
  13. anonymous

    anonymous Guest

  14. anonymous

    anonymous Guest

    Boy this would have been a dream if we were bought by teva...they would have been able to turn this around