Prospector
Profile
07.1120
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| Iridex Corporation |
NAICS |
339100 |
| 1212 Terra Bella Avenue
Mountain View, CA 94043 |
Description |
Medical Equipment Mfg. |
| (650) 940-4700 |
Employees |
121 |
| http://www.iridex.com/ |
Revenue |
(mil) |
35.9040 |
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Income |
(mil) |
-5.7530 |
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Assets |
(mil) |
40.1770 |
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Liability |
(mil) |
8.0700 |
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(for the year ended 2006-12-31) |
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Category:
Covenant Problems
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Event:
Iridex Corporation admits that it is currently unable to satisfy certain restrictive financial covenants contained in its loan agreements and may not be able to do so in the future. In the event of default by the Company with the covenants under these facilities, the Lenders would be entitled to exercise their remedies which would include declaring all obligations immediately due and payable and disposing of the collateral if obligations were not paid.
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Intellectual Property:
The Company relies on a combination of patents, trade secrets, copyright and trademark laws, nondisclosure and other contractual agreements and technical measures to protect intellectual property rights. The Company files patent applications to protect technology, inventions and improvements that are significant to the development of its business. The Company has been issued 15 United States patents and 5 foreign patents on the technologies related to its products and processes, which have expiration dates ranging from 2009 to 2023. It has approximately 5 pending patent applications in the United States and 5 foreign pending patent applications that have been filed. [SEC Filing 10-K 03-30-07]
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Description:
The Company provides therapeutic-based laser systems and delivery devices that are used to treat eye diseases in ophthalmology and skin conditions in dermatology.
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Officers:
Theodore A. Boutacoff (Chair); Barry G. Caldwell (Pres., CEO & Dir.); Meryl Rains (VP & CFO); James L. Donovan (VP); Robert K. Anderson (Dir.); Sanford Fitch (Dir.); Donald L. Hammond (Dir.)
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Auditor:
PricewaterhouseCoopers LLP
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Securities:
Common Stock-Symbol IRIX; NasdaqGM;
8,211,562 common shares outstanding as of June 26, 2007.
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