biosys agbio/veterinary/environmental news

BIOSQ filed for Chapter 11 reorganization in the Bankruptcy Court for the District of Maryland in Baltimore. BIOSQ said it will formulate a plan of reorganization or liquidation since it couldn't raise the funds necessary to alleviate a chronic cash shortage it blamed on poor operating and market conditions. In its second quarter earnings results, BIOSQ said unusually cool and wet weather had depressed revenues in key market segments. BIOSQ lost $3.6 million ($0.48) on revenues of $6.3 million in the second quarter ended June 30, when it had $2.7 million in cash. ...