ARTICLE | Company News

SemBioSys endocrine/metabolic, cardiovascular, supply/service news

April 9, 2012 7:00 AM UTC

SemBioSys said it terminated the majority of its employees and contractors due to its "current liquidity situation." The company said it is pursuing strategic options along with the potential "orderly wind down" of its business. The company will also voluntarily delist from the Toronto Stock Exchange because it does not meet the continued listing requirements for liquidity. SemBioSys will evaluate its ability to list on another Canadian stock exchange. At Dec. 31, 2011, SemBioSys had C$264,108 ($258,483) in cash and a 2011 operating loss of C$6.2 million ($6.1 million). In February, the company raised C$500,000 ($502,751) in a debt offering. ...