There are a lot of companies offering electric vans now or in the near future. Not a market Tesla needs to disrupt.
Other income/expense, net, was expense of $268 for the year ended September 30, 2018 as compared to expense of $370 for the year ended September 30, 2017. The primary reason for the change in expense was the decrease in interest expense under our credit agreement with First Internet Bank.
Wendy Perrow, MBA was elected as a director of the Company on December 10, 2015. Ms. Perrow is Chief Executive Officer at AsclepiX Therapeutics. Ms. Perrow joined AsclepiX Therapeutics in 2016 as Chief Executive Officer. Prior to joining AsclepiX Therapeutics, Ms. Perrow was Chief Executive Officer at Alba Therapeutics and held senior executive marketing positions with private and public pharmaceutical companies. From 2004 to 2007, she was Vice President of Marketing and Sales for Sigma-Tau Pharmaceuticals, Inc. From 1989 to 2003, Ms. Perrow held positions at Merck and Co., Inc. in marketing, marketing promotion, international business research analysis, training, and sales. Ms. Perrow began her career in a division of Johnson & Johnson. Ms. Perrow holds a bachelor’s degree from Eastern Illinois University and a Masters of Business Administration degree in finance and marketing from Duke University – The Fuqua School of Business. Ms. Perrow’s active involvement in the therapeutics industry, her educational background and her leadership experience, facilitate her significant contributions as a director.
Section 8.02. Remedies. Employee recognizes that any breach of this Agreement may cause irreparable injury to the Company, inadequately compensable in monetary damages. Accordingly, in addition to any other legal or equitable remedies that may be available to the Company, Employee agrees that the Company shall be able to seek and obtain injunctive relief in the form of a temporary restraining order, preliminary injunction and/or permanent injunction, in each case without notice or bond, against Employee to enforce this Agreement. The Company shall not be required to demonstrate actual injury or damage to obtain injunctive relief from the courts. To the extent that any damages are calculable resulting from the breach of this Agreement, the Company shall also be entitled to recover damages, including, without limitation, any lost profits or incidental or consequential damages of the Company and/or its affiliates. For purposes of this Agreement, lost profits of the Company shall be deemed to include all gross revenues resulting from any activity of Employee in violation of this Agreement and all such revenues shall be held in trust for the benefit of the Company. Any recovery of damages by the Company shall be in addition to and not in lieu of any injunctive relief to which the Company is entitled. In no event will a damage recovery be considered a penalty in liquidated damages. In addition, in any action at law or in equity arising out of a breach or threatened breach of Article V or Article VI, the Company shall be entitled to recover from Employee all costs and expenses, including reasonable attorneys’ fees, expenses and court costs, incurred by the Company in connection with such action or proceeding. With respect to any action at law or in equity arising out of any other Article of this Agreement, the prevailing party shall be entitled to recover, in addition to any damages caused by a breach of this Agreement, all costs and expenses, including, without limitation, reasonable attorneys’ fees, expenses and court costs incurred by such party in connection with such action or proceeding. Without limiting the Company’s rights under this Section 8.02 or any other remedies of the Company, if a court of competent jurisdiction determines that Employee breached any of the provisions of Article V or Article VI, the Company shall have the right to cease making any payments or providing any benefits otherwise due to Employee under the terms and conditions of this Agreement, except as may be required by applicable law. The remedies set forth in this Section 8.02 shall be available under this Agreement for any breach of this Agreement. Employee agrees that the Company may enforce this Agreement to the broadest extent possible.
In her tornado research, Dr. Grace Yan emphasizes the importance of community preparation. Sam O’Keefe/Missouri S&T
5-501.115; Core; Bags of trash and other debris are accumulated in the dumpster enclosure. A storage area and enclosure for REFUSE, recyclables, or returnables shall be maintained free of unnecessary items, as specified under sec. 6 501.114, and clean.
N. Waiver of Certain Rights. Borrower waives acceptance or notice of acceptance hereof and agrees that the Loan Agreement, this Amendment, and all of the other Loan Documents shall be fully valid, binding, effective and enforceable as of the date hereof, even though this Amendment and any one or more of the other Loan Documents which require the signature of Bank, may be executed by an on behalf of Bank on other than the date hereof.
The transporter concept being presented at the IAA Commercial Vehicles in Hannover (20 to 27 September) is a progressive sibling of the I.D. BUZZ. That concept, which was presented in 2017 in Detroit, enthused people around the globe and will go into production starting in 2022. The new I.D. BUZZ CARGO was designed to be just as close to production level. The I.D. BUZZ was developed jointly by Volkswagen Commercial Vehicles and Volkswagen Passenger Cars. Volkswagen Passenger Cars focused on the van (people carrier) and Volkswagen Commercial Vehicles on the cargo version. Both models are members of the I.D. Family – a new generation of fully connected electric vehicles delivering the ranges of today’s petrol vehicles, a progressive design-DNA and impressive space. Another key unique selling point of the I.D. Family is the scalability of its batteries. The models can be delivered with different battery sizes according to the vehicles purpose of use and budget. And this applies also to the future I.D. BUZZ CARGO, which like all models in the I.D. Family is based on the Modular Electric Drive Kit (MEB). With the MEB it is possible – dependent on battery size and the model concerned – to achieve ranges of about 330 to over 500 km (as per WLTP).
On July 2, 2018, we acquired substantially all of the assets of Seventh Wave Laboratories, LLC. Seventh Wave’s business constituted 32.8% of our total assets at September 30, 2018 and 31.7% of our revenues for the three months ended September 30, 2018. As permitted by SEC guidance for newly acquired businesses, because it was not possible to complete an effective assessment of the acquired businesses’ internal controls over financial reporting as of September 30, 2018, the Company’s management has excluded such internal controls over financial reporting from its evaluation of the Company’s internal control over financial reporting and, to the extent subsumed by internal control over financial reporting, its disclosure controls and procedures, each as disclosed herein. The Company’s management is in the process of reviewing the operations of the Seventh Wave business and implementing the Company’s internal control structure over the acquired operations.
Ford’s SYNC system, which received much criticism in its early forms (though, for the record, I liked the SYNC in my 2010 Raptor very much), evolved to be one of the most intuitive and easy MMI’s around, with lots of functionality, very few headaches, and a responsive touchscreen with Bluetooth that connected on startup every time.
The Company capitalizes costs associated with the issuance of debt and amortizes them as additional interest expense over the lives of the debt on a straight-line basis, which approximates the effective interest method. The Company believes the difference between the straight-line basis and the effective interest method is not material to the consolidated financial statements. Debt issuance costs of $159 and $64, as of September 30, 2018 and 2017, respectively, were netted with long-term debt less current portion on the consolidated balance sheets. Upon prepayment of the related debt, the Company accelerates the recognition of an appropriate amount of the costs as refinancing or extinguishment of debt.
2.3. Term Loan #2. (a) Subject to the terms and conditions hereof, Bank shall make to Borrower a term loan (the "Term Loan #2") on July 2, 2018 in an aggregate amount of Five Million Five Hundred Thousand and No/100 Dollars ($5,500,000.00). The unpaid principal balance, together with all accrued but unpaid interest and reimbursable expenses, shall be payable in accordance with the terms of the Term Loan #2 as evidenced by a Term Loan Note (the "Term Note #2") to be issued by Borrower to Bank dated July 2, 2018 with a final maturity date of July 2, 2023, and otherwise in substantially the form of Exhibit 2.3.
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