Theranos’ Missive Of The Alphabet To Shareholders Shows The Companionship Is On Its Deathbed (Frau.D)

Let's run across if Tim Draper has Changed his tune. From July 2016's "Theranos Is Flopping Like Influenza A virus subtype H5N1 Dying Fish":
Sometimes they flop themselves correct dorsum into the water, but that's non the agency to bet....

... World’s Most Loyal V.C. Says Theranos Critics Are Just Haters

Tim Draper goes to bat for Elizabeth Holmes.
When Theranos C.E.O. Elizabeth Holmes was growing up, her vecino was famous Silicon Valley venture capitalist Tim Draper. Influenza A virus subtype H5N1 family friend to the Holmeses, Draper’s children grew upwardly playing alongside Elizabeth. He also, incidentally, wrote ane of the outset seed checks to Theranos a decade ago, long earlier it was valued at $9 billion (and later, just $800 million). His Sand Hill Road firm, Draper Fisher Jurvetson, has continued to back upwardly Holmes. And he’s yet defending the companionship today, fifty-fifty after a serial of critical Wall Street Journal reports revealed that the start-up oftentimes relied on generic machines to run its blood tests because its ain proprietary Edison machines—the technology scientific discipline that the entire draw of piece of job concern ran on—didn’t work.

Despite it all, Draper told Bloomberg’s Emily Chang in aninterview published Th night, “nothing’s gone incorrect alongside Theranos.” The venture capitalist compares Theranos to “the agency Uber was attacked past times taxi drivers, too Bitcoin was attacked past times the banks,” he says. “Theranos is beingness attacked past times the powers that hold upwardly inwards large pharma, inwards [Holmes’s] competitors, inwards the basis of medical insurance, the people inwards authorities who are going to hold upwardly rattling much affected past times a actually cheap, actually effective, wonderful solution.”...

And today's even out from BuzzFeed:

“The nearly feasible selection that nosotros convey identified to foreclose a near-term sale or a potential default nether our credit understanding is farther investment past times ane or to a greater extent than of you.”

Theranos, the disgraced blood testing company, is inwards dire fiscal straits too may convey to default on a $100 ane thou m loan, according to a alphabetic quality to shareholders from its CEO Elizabeth Holmes that was obtained past times BuzzFeed News.

In the note, sent to investors Tuesday, the embattled Theranos founder said that the companionship had hitting delays on a blood exam for the Zika virus too had been unable to obtain blessing for the production from the Food too Drug Administration. It likewise asked its existing investors for to a greater extent than money.

FDA blessing was necessary for the companionship to unlock a tranche of debt funding from someone equity theater Fortress Investment Group, which inwards Dec agreed to loan Theranos $100 million, but inwards installments too upon the achievement of sure enough milestones.

Up until Tuesday, the companionship had solely received $65 ane thou m of that commitment from Fortress, wrote Holmes, who said she asked Fortress if it would liberate the adjacent $10 ane thou m tranche without the FDA blessing for the test. That was non assured, according to Holmes, who thus explained that to cutting costs, all but a handful of employees had been notified that they would hold upwardly seat off inside lx days. The Wall Street Journal outset reported on those layoffs too said that headcount would hold upwardly reduced from 125 employees to less than ii dozen....MUCH MORE