Helicos genomics, supply/service news
Helicos filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Massachusetts. The company said its board of directors determined that continuing operations outside of bankruptcy was not possible due to its lack of cash resources and no available funding options. The filing triggered the company to default on its November 2010 purchase agreement, under which the company has $2.4 million of convertible promissory notes outstanding. For the six months ended June 30, the company reported $1.1 million in revenue. At Sept. 30, the company had assets of $3.5 million and $15.5 million in debt. The company, which said it could not report its 3Q12 earnings within the prescribed time period, could not be reached for details. ...