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The NeoGenomics Case Study

 

 

Critical Issues 

 

Action Steps & Results

  • Approximately 500k in revenue

  • Poor leadership at the top

  • Management had unacceptable background for the genetics industry

  • 1.5 million LOC due in 6 months

  • Stock trading at $.10 per share

  • Only 500 shares were trading a day

 

Action Steps:

  1. Eliminated 8 out of 10 initial personnel

  2. Hired new President & management team

  3. Took interim positions as COO & CFO

  4. Restructured Board of Directors

  5. Raised $5 million through SEDA with investor

  6. Refinanced debt to eliminate call on LOC

  7. Started quarterly shareholder meetings

  8. Restructured balance sheet

  9. Bought out old investors at healthy profit

  10. Took seat on Board of Directors

Results:

  1. 1st year growth – $500k to $2.5 million in rev.

  2. Total tenured growth – $500k to $20 million

  3. Stock price rose from $.10 to $2.10 per share

  4. Stock price currently $.75 per share

  5. Trading volume went from 500 to 125,000 per day

  6. Trading volume currently 25,000 shares per day

  7. Company is poised for strategic merger

 

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