Fifth Street Is In Control!!

[anonymous]

As of 4/01/16, Fifth Street Finance owns majority control of Ameritox.

Ameritox traded equity in the company equaling greater than 50% in order to secure debt relief from Fifth Street.

Since Ameritox was in non-cash accrual status with Fifth Street (I.e. not paying; couldn't pay), this move indicates Ameritox was out of options and had no means to restructure the debt.

In sum, Fifth street agreed to send quite a bit of the money they borrowed Ameritox into the wind in exchange for controlling equity in Ameritox.

So why would Fifth Street want to give up monies owed in order to secure controlling equity of Ameritox? To methodically grow the business? To invest millions more in the company to right the ship?

Or could it be that Fifth Street wants to mitigate loss?

Fifth Street Finance isn't in the lab business folks, they are in the finance business. You be the judge.


http://fsc.fifthstreetfinance.com/mobile.view?c=216346&v=203&d=1&id=2166775

 

[anonymous]

Liquidation Sale! Buy 1 Piss Cup get 1 Free! Line up and get your complimentary Rx GuardianCD report! Prices are being slashed, panels are being over billed and physicians will get paid for all referrals! This won't last long folks so act now!

 

[anonymous]

what in the hell is going on over there at Schmuckeritox? glad i got laid off in february. i actually thought for a second it was something i had done.....not!!!! horrible management!!!!

 

[anonymous]

As of 4/01/16, Fifth Street Finance owns majority control of Ameritox.

Ameritox traded equity in the company equaling greater than 50% in order to secure debt relief from Fifth Street.

Since Ameritox was in non-cash accrual status with Fifth Street (I.e. not paying; couldn't pay), this move indicates Ameritox was out of options and had no means to restructure the debt.

In sum, Fifth street agreed to send quite a bit of the money they borrowed Ameritox into the wind in exchange for controlling equity in Ameritox.

So why would Fifth Street want to give up monies owed in order to secure controlling equity of Ameritox? To methodically grow the business? To invest millions more in the company to right the ship?

Or could it be that Fifth Street wants to mitigate loss?

Fifth Street Finance isn't in the lab business folks, they are in the finance business. You be the judge.


http://fsc.fifthstreetfinance.com/mobile.view?c=216346&v=203&d=1&id=2166775

Ameritox has been now bought by Oak Tree and has already been sold once again to WCAS. Maybe Spineless T and his side kicks should be more diligent about where they hold their discussions and instead of lying to the employees, tell them the company already has been sold to WCAS. Everyone has a new employer. Do you know if WCAS is going to keep us open here in Columbia or the Lab in Greensboro? Better start updating those resumes!

 

[anonymous]

Source?

 

[anonymous]

what in the hell is going on over there at Schmuckeritox? glad i got laid off in february. i actually thought for a second it was something i had done.....not!!!! horrible management!!!!

or......maybe you suck as a sales rep and should choose another profession. how efficient are you at flipping patties? if that doesn't work what about listening and taking orders?