The information that the VA provided is that there are 50 LVA3 model pumps in inventory spread all over the world and can be easily sold. At the current prices are worth A$5 million easily.
There are 170 LVA4 model pumps that will be eventually sold and at current prices are worth A$17 million easily.
So a total of A$22 million.
And here comes the offer at between A$5 million and A$10 million and we have reason to believe that the offer is around A$8 million. Offer is conditional on certain number of stock on the shelf.
That is not all. From January 2009 the number of of implants are 22. With 60 days payment terms, it would be interesting how much of that easily A$2.2 million had been realised. That too reverts to the new owner.
So the buyer coolly carries away A$14 million windfall without having worked any for it while we hold the empty sack.
Another wonderful piece of news. The Administrators are only in charge of the Ventracor Pty. Ltd. and not the subsidiaries. Anybody wish to guess the names. One name is easy to guess that a few families will never forgive or forget.
Administrators are not willing to call the money in.
By the way the windfall for the buyer also includes more than 2 million dollars of Australian tax payers money. The ready to commercialisation grant that VCR received in the last two years.
We are lost for the words to title the lesson here.
VCR
ventracor limited
