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Posted On: 03/30/2019 11:13:31 AM
Post# of 30066
The PR made 4 references to the 1st Quarter. Todos was one. There are 3 more ...
"We have made substantial progress towards achieving the AP LCS equitization requirements, and expect to have further details on this LCS-related milestone later in the first quarter of 2019."
"In December 2018, the Company entered into a term sheet to exchange certain outstanding securities held by entities owned by Mr. Heng Fai Chan. As part of the agreement, the Company is redeeming the Series F convertible preferred stock and the significant voting rights associated therewith, in exchange for equity in Amarantus, as well as equity in subsidiaries Elto Pharma, Cutanogen Corporation and Breakthrough Diagnostics. The completion of this transaction, expected in the first quarter of 2019, positions the Company's management and board of directors to be able to deliver on the recapitalization plan with a view towards maximizing common shareholder equity value."
Did this happen?
Now that significant progress has been made towards the recapitalization, the Company believes that it is appropriate to explore retaining new executive leadership to complete the recapitalization and distribution plan. The current management and board of directors are very supportive of a potential modification in the organizational structure, and have initiated a search to evaluate senior leadership candidates. Further updates will be provided later in the first quarter of 2019.
"We have made substantial progress towards achieving the AP LCS equitization requirements, and expect to have further details on this LCS-related milestone later in the first quarter of 2019."
"In December 2018, the Company entered into a term sheet to exchange certain outstanding securities held by entities owned by Mr. Heng Fai Chan. As part of the agreement, the Company is redeeming the Series F convertible preferred stock and the significant voting rights associated therewith, in exchange for equity in Amarantus, as well as equity in subsidiaries Elto Pharma, Cutanogen Corporation and Breakthrough Diagnostics. The completion of this transaction, expected in the first quarter of 2019, positions the Company's management and board of directors to be able to deliver on the recapitalization plan with a view towards maximizing common shareholder equity value."
Did this happen?
Now that significant progress has been made towards the recapitalization, the Company believes that it is appropriate to explore retaining new executive leadership to complete the recapitalization and distribution plan. The current management and board of directors are very supportive of a potential modification in the organizational structure, and have initiated a search to evaluate senior leadership candidates. Further updates will be provided later in the first quarter of 2019.
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