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Posted On: 10/01/2020 11:13:49 PM
Post# of 36542
I agree. There is room for interpretation when looking at only the PR of the "Binding MOU" agreement. However, looking at the language of the 8-K for that agreement provides clarity on the timeline:
"On September 18, 2020, Generex Biotechnology Corporation and its majority owned subsidiary NuGenerex Immuno-Oncology, Inc., (collectively “Generex”) signed an agreement, called a Heads of Agreement, binding the August 14, 2020 memorandum of understanding (MOU) with Bintai Kinden Corporation of Malaysia (“Bintai”) for the development and commercialization of the Ii-Key-SARS-CoV-2 coronavirus vaccine (the “Agreement”). The Agreement, among other things, also expanded an understanding between Generex and Bintai (the “Parties”) related to the following:
1. Finalize and solidify the terms and conditions of the licensing agreement within TWO (2) weeks from the date of the Agreement, wherein the Parties will complete its perusal, clarify and finalization of the terms and conditions of the Agreement."
Those are the first two paragraphs. No talk of payment is mentioned by that point. Two weeks from Sept 18th is tomorrow - Oct 2.
"On September 18, 2020, Generex Biotechnology Corporation and its majority owned subsidiary NuGenerex Immuno-Oncology, Inc., (collectively “Generex”) signed an agreement, called a Heads of Agreement, binding the August 14, 2020 memorandum of understanding (MOU) with Bintai Kinden Corporation of Malaysia (“Bintai”) for the development and commercialization of the Ii-Key-SARS-CoV-2 coronavirus vaccine (the “Agreement”). The Agreement, among other things, also expanded an understanding between Generex and Bintai (the “Parties”) related to the following:
1. Finalize and solidify the terms and conditions of the licensing agreement within TWO (2) weeks from the date of the Agreement, wherein the Parties will complete its perusal, clarify and finalization of the terms and conditions of the Agreement."
Those are the first two paragraphs. No talk of payment is mentioned by that point. Two weeks from Sept 18th is tomorrow - Oct 2.
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