“I don’t know how they’re hitting their numbers: that’s what’s blowing me away. What is going on? How are they supposedly hitting these numbers? I want to know.” – Former MiMedx Employee
Viceroy continues piecing together further damning evidence of MiMedx’s dwindling relationship with the Department of Veterans Affairs.
As a recap, we have established flawed and dubious hiring practices for MiMedx, connections to related-party employee-owned distributors, improper government filings, photographic evidence of channel stuffing and an undisclosed SEC investigation.
MiMedx refuse to acknowledge the facts. In what appears to be a blatant disregard for the SEC rules and the need for 8-K filing, MiMedx recently filed an 8-K for relating to a “Amendment to Credit Agreement”, ignoring the elephant in the room: the SEC subpoena. According to MiMedx actions, an amendment to credit agreement” is significantly more important than the need to file an 8-K relating to an SEC subpoena. Viceroy believe that this is to avoid people tracking the issues of MiMedx and/or owning up to the seriousness of an on-going investigation.
This is in addition to MiMedx misleading its investors about the publication of an alleged independent report that was concealed from its own investors. As highlighted by Aurelius Value, MiMedx went one step further and prohibited its disclosure even when the SEC made inquiries. Investors would be prudent to check the SEC filings from April 18, 2017