Well, there’s terrible and then there’s terrible!
Things seem to be getting worse.
For background, I detailed its troubles, ups, and downs here in a previous post.
I was just working on a new draft post on the most recent, concerning FDA 483 report on the company, which I will release soon (it was released to me by the FDA last week) in a new post coming up, when I heard the news that reportedly the company is in foreclosure or at least is having some kind of foreclosure sale.
The Foreclosure Sale Announcement, posted in the NYT online classified ads, is shown above in a screenshot (note that after clicking that link that you need to chose “business opportunities” and then pick the location as NY Metro Area. The IntelliCell auction announcement should then pop up.
Is this the end of the line more broadly for the company?
If so, keep in mind this is still, in theory at least, a publicly traded company. What happens to stock holders?
If this is not the end of the road, and the company continues to survive, what does this sobering event mean for its future?