Frankestin
3 years ago
There are personal reasons! It seems that they give goodies ...
Thinking badly makes me say that it is a good excuse to bring down the price but perhaps there are serious personal reasons ...
I think I'll add
The appointment of Mr. Milford follows the resignation of Douglas Satzman as the President and Chief Executive Officer of the Company for personal reasons effective as of the same date.
In connection with Mr. Satzmanโs departure, the Company expects to enter into a severance and release agreement with Mr. Satzman, providing for a severance package with Mr. Satzman, subject to Mr. Satzman executing a general release in favor of the Company, resigning as a director of the Company and otherwise complying with the terms of the severance and release agreement. In connection therewith, the Board has appointed Mr. Milford as a member of the Board with an initial term expiring at the Companyโs 2022 Annual Meeting of Stockholders, contingent upon and effective immediately following Mr. Satzmanโs resignation as a director.
Frankestin
3 years ago
โWe are actively working to scale up this collaborative post-arrival airport-based surveillance testing program to monitor for this new variant in arriving travelers.โ
On Sunday, November 28, XpresCheck expanded its COVID-19 biosurveillance program to test passengers entering the United States from Southern Africa, including passengers making connections through Europe. The initial COVID-19 biosurveillance program launched in September and provided testing for travelers arriving from India at three key United States airports, John F.
Kennedy International Airport, Newark-Liberty International Airport, and San Francisco International Airport, and is expanding to include Hartsfield-Jackson Atlanta International Airport.
The CDCโs program, conducted in collaboration with XpresCheck and Ginkgo Bioworks, offers two types of free testing options. The first is a PCR test done on a pooled sample collected at the airport on arrival. A pooled test means several passengersโ samples are combined together and tested as a group. This approach enables efficient large-scale testing of many passengers entering the country. The second option is an at-home specimen collection kit that passengers can take with them and mail back a sample collected three to five days after arrival into the United States for individualized PCR testing.
The CDC strongly encourages all international travelers to get tested three to five days after arrival in the United States. Through this program, results are provided to passengers and public health authorities to help interrupt the chain of transmission in US communities, and detect variants of concern entering the United States.
Frankestin
3 years ago
MC $144 M
Liquidity and Financial Condition As of September 30, 2021, the Company had cash and cash equivalents, excluding restricted cash, of $109.2 million, and total current assets of $113.1 million and total current liabilities of $17.2 million reflecting strong working capital.
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Frankestin
3 years ago
Strong testing numbers, concurrent with the resumption of travel, have enabled XpresCheck to vastly surpass our expectations to-date. We firmly believe that COVID-19 testing at major U.S. airports will remain an important part of travel, especially international travel, for the foreseeable future. This is due to the emergence of highly contagious COVID-19 variants, such as Delta, along with break-through vaccination infections. Our $2 million Centers for Disease Control and Prevention (โCDCโ) pilot program, which is not reflected in these quarterly financials, is also showing positive results and we expect to recognize approximately 75% of the revenue during this fourth quarter. We also anticipate that this CDC program will be expanded.