Home >> MiMedx Commentary

2017 BUSINESS REPORT


The MiMedx 2017 Business Report was published to primarily enlighten shareholders on the asset base that the Company had built that will lead it into becoming a biopharmaceutical company that is focused on therapeutic medicine.

In spite of the destructive decisions that have been made by the current Board, the asset base is still in place and very strong compared to the Company’s competitors. Therefore, this document should be very informative from that standpoint.

The one issue that needs to be considered is the revenue growth chart. This Board has notified shareholders that they cannot rely on revenues from 2012 forward. I personally believe that there will be very small changes and/or shifts made in these revenue numbers when the audits are finally produced.

The key to that revenue chart is simply the growth rate that the Company managed to maintain over the years because of the strong demand for its very innovative product line and effective management of the Company’s assets. That growth rate continued through the second quarter of 2018 when Petit and Taylor were dismissed because the Board “wanted to take the Company in a different direction.” They were replaced by a temporary CEO who had no healthcare experience. The resulting poor operating results for subsequent quarters speak for themselves relative to this particularly bad decision.



Mimedx Business Report May 2017