Apr. 1 at 1:07 PM
$IDXG The BIG UNKNOWN is of course PancraGen reimbursement. The present deadline is April 24. Even if they kick the can down the road and extend it, it would have a huge impact on IDXG in that they're able to pay down the BroadOak debt.
Two events saved IDXG from being a zero. The appeal/delay enabled debt to be pared down from
$12MM to
$4.4MM on 12/31 and likely about
$2.7MM today. The second event was the preferred B converting to preferred C but giving up their liquidation preference. If the preference were in place, the common would be worthless.
Worst case scenario is VERY bad for the employees. But common exit strategy is not a zero. Figure thyroid is
$30MM of the
$47MM. Put even a one handle on it and you have more than
$1 per share. A two handle would be
$2 per share. That's after the
$2.7MM debt is paid. EBITDA hard to gauge.
$9MM now. Let's cut that in half.
$30MM would be 6 EBITDA.