2020-11-17 17:52:34 SNOA Sonoma Pharmaceuticals
11/17/20 11/1717:52 11/17/2017:52 | Sonoma Pharmaceuticals says Q4 financials contained error, decrease EPS by 41cThe company states: "On November 12, 2020, the Audit Committee of the board determined that the Company's unaudited condensed consolidated interim financial statements for the quarter ended June 30, 2020 should no longer be relied upon. The financial statements for the quarter ended June 30, 2020 as filed with the U.S. Securities and Exchange Commission on August 14, 2020, contained material errors. The Audit Committee concluded that material adjustments to the financial statements for the quarter ended June 30, 2020 are required and that the Company will need to restate them. Specifically, during the course of preparation of the financial statements for the quarter ended September 30, 2020, our Chief Executive Officer and our Chief Financial Officer discovered that revenues were overstated in the financial statements for the quarter ended June 30, 2020 as adequate reserves were not taken for wholesaler and specialty pharmacy rebates, distributor fees and customer returns and that certain expenses were understated and not properly recorded. It was determined that the Europe and Mexico financial translations on the profit and loss statement was run twice for one month of the quarter which resulted in an overstatement of revenue and expenses for that period. Finally, it was determined that income from discontinued operations for both years was incorrectly calculated. At this time, we estimate that these errors resulted in accounts receivable being overstated by $446,000, prepaid expenses being overstated by $123,000, accrued expenses being understated by $175,000 in the consolidated balance sheet as of June 30, 2020. The errors further resulted in revenues being overstated by $1,487,000, cost of revenue being overstated by $779,000 and gross profit being overstated by $708,000, total operating expenses being understated by $75,000, other income (expense) being overstated $35,000, income from discontinued operations being overstated 5,000 in the consolidated statements of comprehensive income (loss) for the quarter ended June 30, 2020. With the errors being corrected in the restated financial statements for the quarter ended June 30, 2020, net income (loss) decreased by $753,000 to $240,000. Additionally, the changes resulted in a decrease of basic and diluted net income (loss) per common share of 41c." |
---|
Syndicate
|
Sun Communities 7M share Secondary priced at $140.00 »
19:11 03/04/21 03/0419:11 03/04/2119:11
SUI
Sun Communities
The deal priced below the… Story temporarily locked. ShowHide Related Items >><<
|
On The Fly
|
Fly Intel: After-Hours Movers »
19:09 03/04/21 03/0419:09 03/04/2119:09
PLYA
Playa Hotels & Resorts
Manchester United
Gap
Quanex
Cooper Companies
Alphatec
Smith & Wesson Brands
Imax
Jamf Holding
Waitr Holdings
Ocular Therapeutix
Western Digital
Evofem
Medallia
DermTech
Opendoor Technologies
SmileDirectClub
Guidewire
Costco
Broadcom
Slack Technologies
Check out this evening's… ShowHide Related Items >><<
|
Upgrade
|
Michaels upgraded to Equal Weight from Underweight at Morgan Stanley »
19:04 03/04/21 03/0419:04 03/04/2119:04
MIK
Michaels
Morgan Stanley analyst… Story temporarily locked. ShowHide Related Items >><<
|
Downgrade
|
Five Prime downgraded to Hold from Buy at Jefferies »
19:03 03/04/21 03/0419:03 03/04/2119:03
FPRX
Five Prime
Jefferies analyst Eun… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Square director sells 8.2K shares of common stock »
18:42 03/04/21 03/0418:42 03/04/2118:42
SQ
Square
In a regulatory filing,… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
TriMas' Parker sells over 21,000 common shares »
18:41 03/04/21 03/0418:41 03/04/2118:41
TRS
TriMas
In a regulatory filing,… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Micron price target raised to $118 from $102 at Goldman Sachs »
18:39 03/04/21 03/0418:39 03/04/2118:39
MU
Micron
Goldman Sachs analyst… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
PDC Energy's Crisafio sells 17,000 common shares »
18:33 03/04/21 03/0418:33 03/04/2118:33
PDCE
PDC Energy
In a regulatory filing,… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
SPDR Gold Shares holdings fall from 1,082.38MT to 1,078.30MT »
18:30 03/04/21 03/0418:30 03/04/2118:30
GLD
SPDR Gold Shares
This is the lowest level… Story temporarily locked. ShowHide Related Items >><<
|
Periodicals
|
Wells Fargo to give all employees PTO for vaccine appointments, Reuters says »
18:26 03/04/21 03/0418:26 03/04/2118:26
WFC
Wells Fargo
Wells Fargo intends to… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Splunk CEO: We're growing our cloud business like no tomorrow »
18:25 03/04/21 03/0418:25 03/04/2118:25
SPLK
Splunk
In an interview on… Story temporarily locked. ShowHide Related Items >><<
|
Upgrade
|
Western Digital upgraded to Buy from Neutral at Goldman Sachs »
18:10 03/04/21 03/0418:10 03/04/2118:10
WDC
Western Digital
Goldman Sachs analyst… Story temporarily locked. ShowHide Related Items >><<
|
Downgrade
|
Skyworks downgraded to Neutral from Buy at Goldman Sachs »
18:04 03/04/21 03/0418:04 03/04/2118:04
SWKS
Skyworks
Goldman Sachs analyst… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Oportun received Civil Investigative Demand from CFPB over collection practices »
17:44 03/04/21 03/0417:44 03/04/2117:44
OPRT
Oportun Financial
On March 3, Oportun, Inc.… On March 3, Oportun, Inc. a subsidiary of Oportun Financial Corporation, received a Civil Investigative Demand from the Consumer Financial Protection Bureau. The stated purpose of the CID is to determine whether small-dollar lenders or associated persons, in connection with lending and debt-collection practices, have not been in compliance with certain federal consumer protection laws over which the CFPB has jurisdiction, the company disclosed in a regulatory filing. The information requests in the CID focus on Oportun's legal collection practices from 2019 to 2021 and hardship treatments offered during the COVID-19 pandemic. "The Company believes its practices have been in full compliance with CFPB guidance and that it has followed all published authority with respect to its practices, and the Company intends to cooperate with the CFPB. At this time, the Company is unable to predict the outcome of this CFPB investigation, including whether the investigation will result in any action or proceeding against the Company or in any changes to its practices," it said. ShowHide Related Items >><<
|
Hot Stocks
|
Genentech's Acterma approved by FDA for regulating pulmonary function in SSc-ILD »
17:44 03/04/21 03/0417:44 03/04/2117:44
RHHBY
Roche
The company states:… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Avery Dennison VP Deena Baker sold almost $450K in company shares »
17:38 03/04/21 03/0417:38 03/04/2117:38
AVY
Avery Dennison
Avery Dennison VP Deena… Avery Dennison VP Deena Baker disclosed in a filing that she had sold 2,500 shares of company stock at $179.46 per share on March 3, for a total transaction amount of $448,653. ShowHide Related Items >><<
|
Initiation
|
UP Fintech initiated with an Outperform at CICC »
17:34 03/04/21 03/0417:34 03/04/2117:34
TIGR
UP Fintech
CICC analyst Zeyu Yao… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Oxford Immunotec submits EUA request to FDA for T-Spot Covid test »
17:27 03/04/21 03/0417:27 03/04/2117:27
OXFD
Oxford Immunotec
Oxford Immunotec Global… Oxford Immunotec Global announced that it has released the T-SPOT.COVID test, a CE marked ELISPOT based test intended for qualitative detection of a cell mediated immune response to SARS-CoV-2 in human whole blood. The company has filed an EUA request to the FDA for the test. Serology does not give the full picture of the adaptive immune response to SARS-CoV-2 infection. Antibodies are not always produced in response to SARS-CoV-2 infection, or may be delayed1,2. Antibodies can also wane quickly after infection4 and reports show T cells may be more long lived than the antibody response3. In the absence of an antibody response, the T cell response may be protective from SARS-CoV-2 infection5. In a clinical study using samples collected in the US, the T-SPOT.COVID test was proven to detect a SARS-CoV-2 cell mediated immune response in PCR positive individuals, even with negative serology test results6. The T-SPOT.COVID test therefore complements results obtained by antibody serology to give a more comprehensive view of an individual's adaptive immune response to SARS-CoV-2 infection. The test could also be used, for example, alongside serology tests to support clinical assessment of individuals who present with suspected COVID-19 but are PCR negative. ShowHide Related Items >><<
|
Earnings
|
Tidewater reports Q4 EPS (72c), consensus (59c) »
17:23 03/04/21 03/0417:23 03/04/2117:23
TDW
Tidewater
Reports Q4 revenue… Story temporarily locked. ShowHide Related Items >><<
|
Conference/Events
|
UBS financial/fintech analysts to hold analyst/industry conference call »
17:19 03/04/21 03/0417:19 03/04/2117:19
Financials Analysts… Financials Analysts Hawken, Kramm and Martinez provide a weekly update on debates and themes across the Financials & Fintech Industries on an Analyst/Industry conference call to be held on March 5 at 1 pm. |
Conference/Events
|
UBS consumer goods analyst to hold an analyst/industry conference call »
17:17 03/04/21 03/0417:17 03/04/2117:17
NKE
Nike
Adidas
Consumer Goods Analyst… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
GAP Airports reports February traffic down 52.7% year-over-year »
17:15 03/04/21 03/0417:15 03/04/2117:15
PAC
GAP Airports
GAP Airports announced… GAP Airports announced preliminary terminal passenger traffic figures for the month of February, compared to traffic figures for February 2020. For February, the total number of terminal passengers at GAP's 14 airports decreased by 52.7%, compared to the same period of the previous year. Domestic passenger traffic decreased by 38%, while international passenger traffic decreased by 69%. The company said domestic traffic continues to strengthen at our 12 Mexican airports as airlines continue to gradually increase their operations. However, international traffic declined due to new requirements put in place to enter the United States, as well as the suspension of flights from Mexico and the Caribbean by the government of Canada. ShowHide Related Items >><<
|
Conference/Events
|
UBS technology analyst to hold an analyst/industry conference call »
17:11 03/04/21 03/0417:11 03/04/2117:11
Technology Analyst… Story temporarily locked. |
Conference/Events
|
Broadcom participates in a conference call with UBS »
17:08 03/04/21 03/0417:08 03/04/2117:08
AVGO
Broadcom
Technology Analyst Arcuri… Technology Analyst Arcuri holds a conference call with management to recap reported earnings on March 5 at 8:30 am hosted by UBS. ShowHide Related Items >><<
|
Syndicate
|
Westport files $400M mixed securities shelf
17:04 03/04/21 03/0417:04 03/04/2117:04
WPRT
Westport
ShowHide Related Items >><<
|