Feb 4, 2014, Pernix announced court case dismissed and settled. "Pernix has agreed to pay $1,330,000 to the Plaintiff Shareholders on or before February 7, 2014, which amount was accrued at the time of the Cypress acquisition as a contingent consideration in the Company’s financial statements."
Other news items:
-The stock put rights for January 2014 were waived.
-Cypress agreed to pay $12 million to the State of Texas as a settlement for Medicaid fraud. The amount was recorded as an expense during the quarter ended December 31, 2013.
Seems most of the uncertainty is behind Pernix now. Now let us see if Pernix can turn around and return to profitability.
