mlkrborn
13 years ago
ORCH $2.71 ; offer to buy by Laboratory Corp of America (LH) announced it is extending its cash offer for all outstanding shares of Orchid Cellmark (ORCH) 2.73 -0.03 : Co announced that LabCorp is extending until 5:00 p.m., New York City time LabCorp's previously announced cash tender offer for all outstanding shares of the common stock of Orchid Cellmark (ORCH). On May 17, 2011, LabCorp received a request from the Federal Trade Commission, or the FTC, for additional information under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the acquisition of Orchid by LabCorp. LabCorp previously extended its tender offer to November 14, 2011.
surf1944
15 years ago
7:05AM Orchid Cellmark discusses FBI re-evaluation of requirements for outsourcing dna forensic testing to private laboratories (ORCH) 1.89 : Co issued press release saying it "praised the Federal Bureau of Investigation's (FBI) announcement that it will re-evaluate the requirements for outsourcing forensic DNA testing to private laboratories. Current FBI quality assurance policies call for public labs to review 100% of private lab forensic DNA work before the results are uploaded into the National DNA Index System (NDIS)... "Eliminating this burden would greatly enhance the efficiency of public-private partnerships for DNA testing. It would also provide a tremendous opportunity to not only cost-effectively eliminate the current DNA testing backlog but also maintain zero backlog going forward as has been achieved in the United Kingdom, where changes to the rules governing public-private partnerships for DNA testing have already enabled significant efficiencies." On March 23, the FBI stated that it "is currently re-evaluating existing policies, standards, and protocols, including requirements for outsourcing DNA analysis to private laboratories and review of their results by public law enforcement laboratories"... Orchid Cellmark is one of the largest providers of forensic DNA testing services."
ScovilleUnits
17 years ago
Hummm?
ORCH: Volume Spike; 40% > 20-adsv, Stock +12.08%
Friday , January 18, 2008 12:11ET
This is the 1st VOLUME alert for ORCH in the past 7 calendar days.
Trading for Orchid Cellmark Inc. (NASDAQ NM: ORCH) has been heavier than usual in today's session. By 12:10 ET, the stock had already traded 80,146 shares via 294 trades. The cumulative volume is 40.44% above its 20-day average of 57,067. Normally the stock experiences around 295 individual trades per session.
So far, today's volume surge has caused a net rise in ORCH's stock price. At the time of this alert, the stock was trading at $5.660, up $0.610 (+12.08%).
One year ago, the Company's shares closed at $3.860. The price has gained more than 46 percent since then.
Over the last 10 trading session ORCH has traded in a range between $4.899 and $5.100 and is currently trading 20.62% below its 52-week high of $7.130 set on April 11,2007 and 57.22% above its 52-week low of $3.600 from January 26,2007.
In the previous 3 sessions, ORCH trading has displayed a mixed trend. Closing results have been as follows:
January 17, 2008 --- closed at $5.050 up $0.050 (+1.00%) on 75,810 shares
January 16, 2008 --- closed at $5.000 down $0.010 (-0.20%) on 55,450 shares
January 15, 2008 --- closed at $5.010 even for the day on 68,780 shares
The Company has not released news in the past 30 days
http://www.knobias.com/story.htm?eid=3.1.26a2a2bd13f8b14c97b2d52c428d1db1d3f4a8fcb2429ce3a1e03ee1473f2cfb
Jedtailedhawk
18 years ago
Forensic science is still in the dark ages. You know what they say, "it takes a whole generation to change." Why? Because the encockroached beurocrats have to retire - they don't want to make any waves on their citizen-sponsored gravy train.
Recently I read about a police "sniffer" dog trained for finding evidence that turned on it's owner and attacked the SOB. What's the matter, too much whipping? Evidence wasn't there? That is so old school.
Because of the multitude of conflicts of interests that exist in our legal system, from lawyers and judges being fellow alumni, to public defenders being C- barely graduated attorneys, to detectives and prosecutors selectively cherry-picking evidence, the only hope for a resurgence of democracy in this country is double-blind collection of, and interpretation of, evidence. What this would entail is premature and wrong conclusions may still occur, but can't be as easily covered up. Farm out the forensic DNA work to a competent, independent private firm with an impeccable reputation.
After all, if you were pulled over in the middle of the night and bloodstains from some parking lot brawl were on your car, and you brushed against them, what testing would Mr. Policia do first? Look for evidence AGAINST you. Defense lawyers and judges are going to have to accept this fact. Too many innocent people have gone to jail.
Furthermore: What about the nymphomaniac that gets pregnant? She was fertilized just yesterday, but had sex with another man today, and claims it was rape. The swab test confirms it: there was sex today. What happens nine months later? Some po mothafuka poundin his fists away at the cell walls, sayin' der ain't no justice man.
hasbro123
18 years ago
Forensic Science Professionals Applaud U.S. Senate Support
CSIs, Medical Examiners and Crime Lab Directors Praise Senator Richard Shelby
WASHINGTON, DC -- (MARKET WIRE) -- July 21, 2006 -- The Consortium of Forensic Science Organizations (www.theCFSO.org) applauds the efforts of Senator Richard Shelby (R-AL) and the U.S. Senate for supporting critical funding for all aspects of forensic science.
State and local crime laboratories are an integral part of the criminal justice system. Recent years have seen a dramatic increase in the demand on the labs for forensic testing of a variety of evidence types, but funding has not kept pace. Crime lab backlogs cause significant delays in evidentiary analysis, resulting in delays in the investigation and solving of crimes, as well as delays in the courts. At last check, the largest 50 laboratories in the U.S. more than doubled their backlogs of unprocessed evidence.
The forensics community praises Senator Shelby for his understanding of the current situation in all forensic areas, including controlled substances, latent prints and DNA.
The issue of funding forensic science is currently being debated in Congress, as part of the federal government's criminal justice budget for fiscal year 2007. The U.S. Senate Appropriations Committee has approved $18 million for the Paul Coverdell Forensic Science Act in the Senate Commerce, Justice, and Science Appropriations bill and an additional $175 million for DNA.
"Senator Richard Shelby, Chair of the Commerce, Justice, and Science Appropriations Subcommittee, is a great supporter of the forensics community," says Joseph Polski, Chair, Consortium of Forensic Science Organizations. "He understands that it is critical that funding support ALL aspects of forensic science, because major crimes are solved by a broad spectrum of forensic disciplines," stated Polski.
"In Washington State, we have experienced a massive increase in the number of forensic cases. Adequate crime lab funding is a constant battle," says Dr. Barry Logan, Forensic Science Laboratory Services, Washington State Patrol. "Forensic funding is a government responsibility at all levels."
"Funding for our crime labs is a national issue at a critical stage. What you see on television is not reality," says Barry A. J. Fisher, Crime Lab Director for the Los Angeles County Sheriff Department. "Crime labs are running large backlogs and simply don't have resources to get results out in a timely basis. This federal money will be a great help," he stated.
locobio
18 years ago
The company must be sold to a larger entity, it seems to me. CEO did say in last call that he felt there was sufficient cash on hand to run for the near future without new financing. I'm hoping for this Bologna to clean up the balance sheet and slim the losses, then sell by spring. Willing to give him a chance, as the labs are good ones and the business they do is real and not going to go away completely. The next six months will tell for me whether I feel like staying or not. At this point though it's dead money, with pure speculation going forward, but I don't need to take a loss.
hasbro123
18 years ago
Vieux.......the NOL is limited.
It begins to expire this year due to rules regarding the cellmark deal.
Unfortunately they may lose a good deal of that NOL.
From the last filing...............
As of December 31, 2005, our net operating loss, or NOL, carryforwards were approximately $234 million and approximately $194 million for Federal and state income tax purposes, respectively. Our Federal and state NOL carryforwards begin to expire in 2006. Utilization of our NOL carryforwards to offset future taxable income, if any, may be substantially limited due to “change of ownership” provisions in the Tax Reform Act of 1986, or the Act. The Act provides for a limitation on the annual use of NOL carryforwards and research and development credits following certain ownership changes, as defined by the Act, which could significantly limit our ability to utilize
these carryforwards and research and development credits. We have determined that an ownership change, as defined by the Act, occurred in 1999. Approximately $36 million of NOL carryforwards is limited due to this ownership change. Additionally, because US tax laws limit the time during which these carryforwards may be applied against future taxes, we may not be able to take full advantage of these attributes for Federal income tax purposes. The NOL carryforwards subject to expiration through the year 2019 is approximately $32 million. We may have experienced other ownership changes, as defined by the Act, as a result of past financings and may experience others in connection with future financings. Accordingly, our ability to utilize the aforementioned Federal NOL carryforwards may be further limited in the future.
The filing may have more bark then bite though...........losing only 32 million thru 2019 isn't that terrible IMHO.
vieuxblue
18 years ago
Hasbro,
I agree in main with your post. However, Orchid has two items of value to a buyer:
1. An existing testing system and operations network, and
2. Tax losses that would be purchased in an acqusition, reducing the purchase price.
I'm not a financial analyst, but that might be enough to tip the scales.
vieuxblue
18 years ago
Jed thanks for the referral to the new hotel. Since they renovated the old place, you can't find the rooms anymore!
So, here's my last post from the old hotel:
Orchid's SP is at historic pre-split lows. There is unlikely to be good news for at least 6-9 months, perhaps longer. The new CEO is cleaning house and is in the process of finding a new executive team to run the company. It has about one year of cash left to run the business and is currently (and has always) operated at a loss.
There is no reason therefore that, especially in a reverse speculative market (that is, one in which speculation is punished), that Orchid's SP will not continue to decline for the next 6 -9 months. Over that time, there may be a better "buying opportunity". So why not sell now and buy back if you believe the company has a decent chance at long-term recovery, which it may indeed have, assuming that the board has, in Bologna, finally found someone who can lead? My only reason for holding my shares is that I hate to rack up a large loss in my portfolio. But that's not a good reason for holding.
I would appreciate pro/con comments.
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Renee
10 years ago
XenaLives
18 years ago
