BANKRUPTCY BRUSH ALTERS CAMARILLO COMPANY.Byline: Deborah Adamson Daily News Staff Writer Pacific Diagnostic Technologies has emerged from Chapter 11 bankruptcy as a different enterprise. The company originally marketed a diagnostic medical tool that analyzed blood. But during its reorganization, company officials concluded that the business wasn't viable. PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT merged with Quintek Corp., intending for Quintek executives to take over. Pacific ceased marketing its medical tools and adopted Quintek's business, which is archiving digital information. The company had a reverse stock split of 1 to 25. It closed at $1.375 Thursday, unchanged from the previous day, on 5,100 shares traded. Pacific's new chief executive, Thomas Sims Thomas Sims (born about 1834 — ?) was an enslaved African American who escaped from slavery in Georgia at age 17 and lived for a time in Boston, Massachusetts. He was arrested there under the federal Fugitive Slave Law on April 4,1851. , said the company plans to license the medical tools business to another firm. As for the data business, the company will support it with a major sales and marketing effort this year. Pacific Diagnostic also reclaimed re·claim tr.v. re·claimed, re·claim·ing, re·claims 1. To bring into or return to a suitable condition for use, as cultivation or habitation: reclaim marshlands; reclaim strip-mined land. its old ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors , PDTK. It had been trading under PDTKD for a time. Nasdaq officials said the ``D'' meant delinquency delinquency Criminal behaviour carried out by a juvenile. Young males make up the bulk of the delinquent population (about 80% in the U.S.) in all countries in which the behaviour is reported. in filing reports to the Securities and Exchange Commission. Pacific Diagnostic filed for Chapter 11 protection two years ago. It emerged from bankruptcy in January. Former executives spent $10 million over several years to develop the medical product before they ran out of capital, Sims said. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion