Layoffs tomorrow

You are correct, layouts are definitely not due to a buyout. If so, Stock price would have gone through the roof today. It actually went down today. Layoffs are due to company getting close to running out of operational cash. It is the next step in trying to save the company from not having enough operating capital to continue to pay all expenses and debt. It was not something mgmt wanted to do, but had no choice as the company is getting close as everyone knows to running on fumes.

For all you investors that swarm to this board like vultures. Have some respect for the tough day a mass amount of employees had today getting laid off. And ask yourself why do you think this stock is still selling less than 50 cents and losing a penny or two everyday. There is NO buyout on the horizon and you all better pray that this company can pull a rabbit out of the hat and turn itself around. Or your money is going down the drain.

 

I lost my job today... so I can apperciate your sympathy. Question I have and i believe this was or is public knowledge but isnt John Sedor banking roughly 50K per month to be a consultant to help turn Pernix around. Sounds like that amount of money just put lots people on the streets???

 

Would you buy this company?

 

That post just made me sick to my stomach. 50k a month?!! I also lost my job this morning and just know we will find bigger and better opportunity!

 

I'm out as well. I'm actually gonna miss working with many of you. I enjoyed my job for the most part. My manager, and region was filled with some of the best people I have known. Can't always work out the way you would like but I am at peace with it all. I wish you all nothing but the best.

 

Exactly, yet he promised us we had plenty of money to get us out of 2016 and even through 2017. This is an ugly day.

 

Yes the employees were led to believe there was enough cash to support operations thru the end of 2016. However, the burn rate of cash and severe lack of sales revenue last quarter has put a severe critical financial strain on the company's immediate survival. Drastic measures had to be done with no buyers stepping forward or the doors would be shut for good.

 

And yet they fired many of those producing the most revenue and kept many producing the least. Karma Pernix karma

 

Maybe if we had an honest answer when we asked what the burn rate was , we would have know to bale when DD was let go. But given we are good till end of year lends one to think maybe JS has magic up his sleeves. He did what he said he has done at other companies...let people go

 

Yes, yes, yes!! I agree 100% with the JJ comment. The company going down is not his fault but it shows the true intelligence of our leaders. Listen to any conference call or try to have a one on one conversation with him. I'll take RS any day over this guy.

 

Johnson and Shalaby are two in the same but Shalaby is the one who started the downward spiral of Pernix. He and Drysdale are solely to blame for the doom of Pernix. Shalaby is the biggest back stabbing egomaniac I have ever met. The epitome of Napolean syndrome. FYI Drysdale's severance is $50k a month for a year. How about them apples.

 

The press release this morning basically said that the salesforce was misaligned, were calling on the wrong Doc's, too many Reps for the revenue being generated, and too much overhead to support the salesforce. That is all on Shalaby! He did a crap job, and now we are all paying the price for that mismanagement!

 

But yet shit canned many of the reps bringing in more revenue and kept those keeping less!

 

Ask DD and RS how much their little boat party was down in florida?? I bet we could have saved a bunch of jobs on that one alone. DD treated this like his own playground, nothing more. RS was so happy to have a job out of a CSO, yet he treated us like that. No vision, no leadership, no results. Just bullshit. RS added ridiculous layers for 1- his ego and 2- to show off to his Merck cronies that he wasnt just a cso guy.

Now were paying

 

Yep too many reps-yet a majority of the ones kept on were just hired when they thought it was a great idea to buy a pain med. brilliant.

 

Does anyone know how many people were laid off? Neuro & pain

 

between 1-1009 pain and neuro.