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Posted On: 03/16/2018 10:29:55 AM
Post# of 30066
Re: FiggyPiggy #26274
FiggyPiggy/JP:
Actually, yes we do know there was a partner for ESS. You must not read much. From the 8k released July 1, 2016:
"On June 30, 2016, the Company entered into a non-binding Letter of Intent (the "LOI) with a commercial-stage wound-care company to form a joint venture (the "JV"
for the further development of the Permaderm program. Under the terms of the LOI, the parties have exclusivity of negotiations for a period 30 days to enter into definitive agreements as it relates to the JV (the "Exclusivity Period". The Exclusivity Period may be extended upon mutual consent of the parties."
It was extended for another 30 days per the 8k released on 8/8/16:
"In addition, on August 6, 2016, the Company extended the exclusivity period of its non-binding Letter of Intent (the "LOI”) with a commercial-stage wound-care company to form a joint venture (the "JV" for the further development of the ESS program. The exclusivity period of the LOI, has been extended for an additional 30 days to August 29th, 2016."
And it was extended again per the 8K released on 10/6/16:
In addition, the Company extended the exclusivity period of its non-binding Letter of Intent (the "LOI”) with a commercial-stage wound-care company to form a joint venture (the "JV" for the further development of the ESS program. The exclusivity period of the LOI, has been extended for an additional 60 days to October 29, 2016."
I spoke to Fred several times about this JV partner while this was going on- he said they did "a ton of due diligence" and they were trying to close the deal, but there was something that was outside of Gerald's control that needed to be completed before they were able to move forward. As I said, I think the toxics were in the way of the negotiations. In Oct, they hired Domminick which lead to the deal with Chan.
Actually, yes we do know there was a partner for ESS. You must not read much. From the 8k released July 1, 2016:
"On June 30, 2016, the Company entered into a non-binding Letter of Intent (the "LOI) with a commercial-stage wound-care company to form a joint venture (the "JV"
for the further development of the Permaderm program. Under the terms of the LOI, the parties have exclusivity of negotiations for a period 30 days to enter into definitive agreements as it relates to the JV (the "Exclusivity Period". The Exclusivity Period may be extended upon mutual consent of the parties." It was extended for another 30 days per the 8k released on 8/8/16:
"In addition, on August 6, 2016, the Company extended the exclusivity period of its non-binding Letter of Intent (the "LOI”) with a commercial-stage wound-care company to form a joint venture (the "JV"
for the further development of the ESS program. The exclusivity period of the LOI, has been extended for an additional 30 days to August 29th, 2016." And it was extended again per the 8K released on 10/6/16:
In addition, the Company extended the exclusivity period of its non-binding Letter of Intent (the "LOI”) with a commercial-stage wound-care company to form a joint venture (the "JV"
for the further development of the ESS program. The exclusivity period of the LOI, has been extended for an additional 60 days to October 29, 2016." I spoke to Fred several times about this JV partner while this was going on- he said they did "a ton of due diligence" and they were trying to close the deal, but there was something that was outside of Gerald's control that needed to be completed before they were able to move forward. As I said, I think the toxics were in the way of the negotiations. In Oct, they hired Domminick which lead to the deal with Chan.
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