Stunning Theranos Financial Statements
Further and as a separate conspiracy the indictment alleges that Holmes and Balwani used a large number of false direct communications marketing materials statements to the media financial statements and models to defraud investors about the accuracy and reliability of Theranos technology.
Theranos financial statements. Claiming that Theranos 2014 revenue was 108 million when it was actually closer to 100000. Sales figure is modelled. Even if Theranos had received the remaining 35 million in funding from Fortress by the summer of 2018 the company would not have had enough cash to.
By mid-2016 the advisory board disappeared and a fiduciary board was created. Its a common problem. Has 115 total employees across all of its locations and generates 3201 million in sales USD.
Investors should always conduct due diligence research for financial statements of their companies of interest. Ad See detailed company financials including revenue and EBITDA estimates and statements. Due diligence went by the board at Theranos.
By 2017 scientific and medical and technical boards were established. Theranos was never a listed company. Investors thought theyd hit the jackpot with Theranos the now failed medical technology business.
Ad See detailed company financials including revenue and EBITDA estimates and statements. To start the 100 million said to be Murdochs loss on Theranos is measurable against his reported personal wealth. By 2014 Theranos would be evaluated at 9 billion dollars and have an all-star cast of a board of directors containing 2 former secretary of states and 2 united states senators which gave Theranos even more fame and credibility1.
It is an object lesson in why it is important to understand the accounts and projections of any technology investment. Investors believed based on these representations that Theranos had successfully developed a proprietary analyzer that was capable of conducting a comprehensive set of blood tests from a few drops of blood from a finger. However at Theranos any dissenters were threatened or fired.