Failure to obtain such approval may perhaps have an impact on our capability to create income from this solution line. We have previously been engaged in a lawsuit with a former distributor of our products when we have settled the lawsuit, we are at the moment engaged in a formal arbitration course of action intended to resolve claims of alleged breach of settlement. In addition, to execute our growth program, we should attract and retain very qualified personnel. New members of management need to have substantial business knowledge when they join us or engage in substantial instruction which, in several circumstances, calls for substantial time prior to they obtain complete productivity. If we fail to attract, train, retain, and motivate our key personnel, our company and growth prospects could be adversely impacted.
Its cash, such as restricted money on hand, at December 31, 2019 was $1,717,464. When we intend to seek FDA and Health Canada approval for some of our Anvirzel® products, there can be no assurance that such approval will ever be granted.
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Our new solution development calls for us to investigate and evaluate many alternatives, as nicely as strategy the style and manufacture of these alternatives chosen for additional development. Our improvement efforts could be adversely affected by product improvement delays, changes in operating systems and alterations in sector standards. The manufacturing of new merchandise entails integrating designs and processes, coordinating with suppliers for parts and elements and managing manufacturing capacities to accommodate forecasted demand. If we are not prosperous in meeting these specifications, this could adversely have an effect on our capacity to introduce new goods on a timely basis. Our sales model is heavily dependent on securing a substantial quantity of independent sales representatives.
Other income comprising rental revenue derived from leasing a portion of the farm acreage was capitalized to the 2019 production of oleander powder. It reported sales of $2,976,035 and a net extensive loss attributable to controlling interest for the year of $four,967,307. It produced a considerable extra investment of $two,171,552 in inventory, it spent $83,198 on property, plant and gear, and it committed $190,229 to further patent and trademark expenditures.
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We do not have a substantial sales force, and failure to recruit an sufficient number of independent sales representatives could have an adverse effect on our company and our financial position. The Organization has its solution formulations manufactured in the U.S. by 4 different companies. We could require to come across further or a lot more comprehensive manufacturing capacity in order to enhance our sales.
At December 31, 2017, Nerium determined that it was no longer in a position to workout important influence over Biova, and at that point in time, it adopted the expense method to report its residual interest in Biova. Thereafter, nerium – Recommended Reading – opted to forgo cash contributions expected to maintain its investment percentage which, as a outcome, declined to 15.53% as of December 31, 2019. Other revenue for the year ended December 31, 2019 totaled $19,862 compared to $141,674 for the year ended December 31, 2018.