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Apollo Capital Warns MediPharm Shareholders of Continued Value Destruction and Insolvency Risk Following Disastrous Q1 Financial Results
Apollo Capital Warns MediPharm Shareholders of Continued Value Destruction and Insolvency Risk Fo...
About this update from Medipharm Labs Corp.
[{"type":"text","content":"\n\n\n\n Apollo Capital Warns MediPharm Shareholders of Continued Value Destruction and Insolvency Risk Following Disastrous Q1 Financial Results\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n MediPharm is Dangerously Low On Cash and is On Track to Run Out of Money by November Unless Wholesale Change Occurs\n \n\n\n\n MediPharm Lost Over\n \n $3.3 Million\n \n in Q1 2025 While Management Offered No Clear Plan to Achieve Profitability or Commitment to Reduce Waste or Excessive Spending\n \n\n\n\n Apollo Capital Warns\n \n\n Shareholders Not to Be Misled by Management's Rosy Outlook: MediPharm has Reported 21 Consecutive Quarters of Losses, Yet CEO Pidduck Touted Adjusted EBITDA, a Cherry-Picked Figure That is Meaningless\n \n\n\n\n Absent Significant Board Change, MediPharm Stock is On Its Way to Being Worthless! Apollo Capital's Nominees Bring the Turnaround Experience and Financial Discipline Required to Stop the Bleeding, Restore Fiscal Integrity, and Deliver Performance at MediPharm\n \n\n\n\n Calls Upon MediPharm Shareholders to Support Change by Electing John Fowler,\n \n Alan D. Lewis\n \n ,\n \n David Lontini\n \n ,\n \n Demetrios Mallios\n \n ,\n \n Regan McGee\n \n , and\n \n Scott Walters\n \n\n\n\n\n Urges MediPharm Shareholders to Discard Any \"GREEN\" Proxy Card From Company\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n May 16, 2025\n \n\n /CNW/ -- Apollo Technology Capital Corporation (\"Apollo Capital\"), one of the largest shareholders of MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) (\"MediPharm\" or the \"Company\"), owning approximately 3.0% of the Company's common stock, today commented on MediPharm's first quarter 2025 financial results, reported earlier this week, which reinforce the urgent need for board-level change to reverse the Company's rapidly deteriorating financial position.\n \n\n\n\n\n\n\n\n\n\n Apollo Capital believes that shareholders cannot afford to delay action any longer. Based on current cash burn rates, the Company...