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ChemTrak

This article was originally published in The Gray Sheet

Executive Summary

Home use diagnostics firm is in "early discussions with several firms" regarding a possible merger with or acquisition by another party, and plans a private placement of up to $2 mil. and "significant" expense reductions to address outstanding debts. Sunnyvale, California-based ChemTrak has requested a meeting of its creditors "to discuss a moratorium on its payment of unsecured accounts" until the company can complete the private placement. ChemTrak's most recent addition to its over-the-counter line is its Parent's Alert home drug test service, launched in October 1997...
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