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Posted On: 01/02/2019 11:24:23 PM
Post# of 36549
“As previous reported, Joseph Moscato, the Companys President CEO
and a Director, and Lawrence Salvo, the Companys Senior
Vice-President Diagnostics and a Director, made personal
unsecured cash advances to Company to permit it to pay the
initial $500,000 deposit to Emmaus Life Sciences, Inc. under our
Letter of Intent with Emmaus. Mr. Salvo and Mr. Moscato have made
other advances to permit the Company to pay certain third party
expenses in connection with the implementation of the Companys
repurposed business plan, including legal, accounting, transfer
agent, Edgarization, and press release fees.”
Generex new CEO Joe Moscato has been advancing cash, guaranteeing notes, etc since taking the helm. That’s from 2017 and we’ve seen 8k’s noting similar risk on newer better deals when Emmaus wasn’t the right fit, so that really is something remarkable to consider.
and a Director, and Lawrence Salvo, the Companys Senior
Vice-President Diagnostics and a Director, made personal
unsecured cash advances to Company to permit it to pay the
initial $500,000 deposit to Emmaus Life Sciences, Inc. under our
Letter of Intent with Emmaus. Mr. Salvo and Mr. Moscato have made
other advances to permit the Company to pay certain third party
expenses in connection with the implementation of the Companys
repurposed business plan, including legal, accounting, transfer
agent, Edgarization, and press release fees.”
Generex new CEO Joe Moscato has been advancing cash, guaranteeing notes, etc since taking the helm. That’s from 2017 and we’ve seen 8k’s noting similar risk on newer better deals when Emmaus wasn’t the right fit, so that really is something remarkable to consider.
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