(Total Views: 248)
Posted On: 12/28/2019 5:46:50 AM
Post# of 36566
Green is good. $2 would be way better.
Generex has clearly stated there are parties responsible for loyal shareholders to have suffered loss of value:
MIRAMAR, FL, December 18, 2019/PRNewswire/ -- Generex Biotechnology Corporation (OTCQB: GNBT) has issued a shareholder alert regarding recent trading activity that has adversely affected the company and its shareholders. As a standard practice, Generex monitors the trading in its securities, and after due inquiry, has come to a reasonable belief that certain irregular trading activities have transpired.
Through a recent analysis of trading activity, Generex believes that at least one beneficiary of the Veneto asset acquisition has violated the leak out provisions in the Veneto asset purchase agreement, through which Generex paid for the assets, but never fully acquired them. Generex believes that other beneficiaries to the Veneto asset purchase agreement, by not providing requested records, also violated a provision in the agreement that requires them to present their holdings on demand in order to demonstrate compliance with the leak out provision. Generex is still not in possession of certain key assets that should have been transferred in the Veneto asset acquisition. Generex is of the opinion that by controlling these assets, and their cash flows, Veneto and inter alia their beneficiaries, are affiliates of Generex, according to the definition of affiliate, which is a person who controls or is under mutual control of the company. Generex is currently considering cost efficient solutions to these violations, in addition to invoking provisions in the agreement which take away beneficial share price protection features for the beneficiaries of the agreement, which were triggered by adverse actions following the execution of the agreement. Among other reasons, this provision was triggered due to allegations by the U.S. Department of Justice in court concerning the improper conduct of personnel associated with Veneto. Generex is providing this information to its shareholders in its continuing efforts to provide full transparency to our shareholders, and to help shareholders understand recent sell-side pressure.
It is the CEO's job to build shareholder value. Generex, Generex's lawyers and consulting professionals have apparently dropped the ball in protecting shareholders with potentially weak or poorly constructed Asset Purchase Agreements for CMF and Veneto. Who else?
If the CEO can't do it, the BOD has the responsibility to make changes.
Generex has clearly stated there are parties responsible for loyal shareholders to have suffered loss of value:
MIRAMAR, FL, December 18, 2019/PRNewswire/ -- Generex Biotechnology Corporation (OTCQB: GNBT) has issued a shareholder alert regarding recent trading activity that has adversely affected the company and its shareholders. As a standard practice, Generex monitors the trading in its securities, and after due inquiry, has come to a reasonable belief that certain irregular trading activities have transpired.
Through a recent analysis of trading activity, Generex believes that at least one beneficiary of the Veneto asset acquisition has violated the leak out provisions in the Veneto asset purchase agreement, through which Generex paid for the assets, but never fully acquired them. Generex believes that other beneficiaries to the Veneto asset purchase agreement, by not providing requested records, also violated a provision in the agreement that requires them to present their holdings on demand in order to demonstrate compliance with the leak out provision. Generex is still not in possession of certain key assets that should have been transferred in the Veneto asset acquisition. Generex is of the opinion that by controlling these assets, and their cash flows, Veneto and inter alia their beneficiaries, are affiliates of Generex, according to the definition of affiliate, which is a person who controls or is under mutual control of the company. Generex is currently considering cost efficient solutions to these violations, in addition to invoking provisions in the agreement which take away beneficial share price protection features for the beneficiaries of the agreement, which were triggered by adverse actions following the execution of the agreement. Among other reasons, this provision was triggered due to allegations by the U.S. Department of Justice in court concerning the improper conduct of personnel associated with Veneto. Generex is providing this information to its shareholders in its continuing efforts to provide full transparency to our shareholders, and to help shareholders understand recent sell-side pressure.
It is the CEO's job to build shareholder value. Generex, Generex's lawyers and consulting professionals have apparently dropped the ball in protecting shareholders with potentially weak or poorly constructed Asset Purchase Agreements for CMF and Veneto. Who else?
If the CEO can't do it, the BOD has the responsibility to make changes.
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