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BIOSYNERGY INC

No Longer Reporting

The company has not filed an annual or quarterly report since its 10-Q, filed Mar 23, 2022. Its latest SEC filing is a 15-12G from Apr 20, 2022.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Makes blood-bag temperature indicators, other temperature-monitoring devices and reusable gel packs for hospitals, laboratories and industrial customers.

How Did They Make Money?

FY2021 revenue

Who Were Their Customers?

Hospitals and laboratories are served through distributors and independent sales representatives; the company also markets and sells directly to industrial customers.

Customers above 10% of revenue, FY2021
of revenue from one customer
FY2020: 40% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 1 cent of every revenue dollar as net income in FY2021.

Operating income, FY2021
1% of revenue
▼ −65% vs FY2020 ($49.5K, 4%)
Net income, FY2021
1% of revenue
▼ −56% vs FY2020 ($36K, 3%)

How Were They Changing?

Since the FY2021 annual report
  • Jan 21, 2022 Sold substantially all assets to LCR Hallcrest The company retained cash and receivables, plans to dissolve, and intends to distribute sale proceeds and collected receivables to shareholders.
  • Jan 5, 2022 Court ordered the company to dissolve and wind down The order authorized the sale, collection of receivables, payment of creditors and distribution of remaining assets to shareholders.

Shrank. Revenue fell 5% in 1 year, from $1.2M in FY2020 to $1.2M in FY2021, about 5% a year.

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