Following on from the announcement that Datatrak had resolved the contractual disagreement regarding the ownership of the Clickfind technology, Jeff Green has stepped down as Chairman and CEO.
So, who will buy the remaining assets of DataTrak? At 15cents a share and a market cap of 2.6M USD some company might see value. I suspect a mid tier CRO might come in see the technology as a sort of 'House Wine' implementation of EDC for sponsors that do not show a preference for one of the big players.
After a few months of uncertainty, DataTrak have announced at the end of December that they have resolved their legal dispute with the former owners of the ClickFind EDC product they procured in 2006. I am sure that Jeff Green and his team will be somewhat more positive about the prospects for 2009 than 2 months ago. The share price though remains very low with a potential de-listing due to occur, pending a hearing with Nasdaq.
Hopefully, the company will pull through. It would be sad to lose one of the early providers of EDC systems.
