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Posted On: 02/19/2021 9:47:37 AM
Post# of 36568
Item 8.01 Other Events.
On February 19, 2021, Generex Biotechnology Corporation (“Generex”) fully satisfied the Judgment Creditor Discover Growth Fund, LLC (“Discover”) with a cash payment totaling $2,253,312.32; no stock was exchanged to satisfy this judgment. Several months ago, Discover was awarded $2,200,000.00 via a confession of judgment award, along with legal fees of $53,312.32 against Generex and personally, its CEO, Joseph Moscato (the “Judgement”). The Judgement derived from Generex and Discover entering into a Purchase Agreement and Note with a face value of $2,200,000.00 on December 9, 2019.
On February 19, 2021, Generex Biotechnology Corporation (“Generex”) fully satisfied the Judgment Creditor Discover Growth Fund, LLC (“Discover”) with a cash payment totaling $2,253,312.32; no stock was exchanged to satisfy this judgment. Several months ago, Discover was awarded $2,200,000.00 via a confession of judgment award, along with legal fees of $53,312.32 against Generex and personally, its CEO, Joseph Moscato (the “Judgement”). The Judgement derived from Generex and Discover entering into a Purchase Agreement and Note with a face value of $2,200,000.00 on December 9, 2019.
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