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Posted On: 10/14/2022 6:17:08 PM
Post# of 36541
Hearing on 11/10/2022 at 10:00 AM
https://www.bkalerts.com/recent-bankruptcy-ca...ology-corp
Notice of Appearance and Request for Service by Andrew V Layden Filed by Interested Party Bio & Med Tech Fund of the Future SPV2 LP. (Layden, Andrew)
Andrew V Layden:
https://chambers.com/lawyer/andrew-layden-usa-5:1346588
https://www.bakerlaw.com/AndrewVLayden
I couldn’t find (Google) any info on a “Bio & Med Tech Fund of the Future SPV2 LP” However this could be a newly found “SPV” investor group. https://learn.angellist.com/articles/spv
There are 100,300,000 NGIO/NUGX Total Outstanding Shares
Generex owns 64,151,880 (63.96%) shares + 100,000 shares of preferred stock
Leaving 36,148,120 shares owned by countless individuals
https://www.sec.gov/Archives/edgar/data/18045...orm10q.htm
https://www.sec.gov/Archives/edgar/data/10597...orm10q.htm (Page 23)
The going concern Olaregen is valued at $18,380,053. The purchase price (if sold) should be around this value to avoid any fraud.
The NuGenerex (NGIO) could be less than $500,000,000 since that is only an appraisal.
However there will be extreme pressure that NuGenerex be sold for maximum value by the creditors since this is the only money (besides Olaregen) they will ever get.
Realistically, probably the only gain (money) we might get is if we own (I do) shares of NuGenerex. The buyers will either just buy all the Generex NGIO/NUGX shares or just controlling interest and that will finally give our NGIO/NUGX pps a true value, or the buyers will buy all NGIO/NUGX outstanding shares (100,300,000) and we will get paid cash.
As for any value left for our GNBT shares, it is probably a very long shot. If we subtract the $400,450,000 (Bedford) and $55,100,000 (Beijing) claims, which I believe are ridiculously inflated, that leaves $66,078,327.37 of disputable claims.
Subtract Olaregen $18,380,053 that leaves $47,698,274 needed to fully pay all the creditors. NuGenerex would need to be sold at $.75/share to get that amount ($47,698,274 / 64,151,880 shares). That is a long way from the appraisal value of $4.985/share ($319,800,000 / 64,151,880 shares).
I would not be surprised if there are some “high rollers” owning NuGenerex stock that will be scrutinizing the Generex asset sale for any fraudulent misdeeds.
https://www.bkalerts.com/recent-bankruptcy-ca...ology-corp
Notice of Appearance and Request for Service by Andrew V Layden Filed by Interested Party Bio & Med Tech Fund of the Future SPV2 LP. (Layden, Andrew)
Andrew V Layden:
https://chambers.com/lawyer/andrew-layden-usa-5:1346588
https://www.bakerlaw.com/AndrewVLayden
I couldn’t find (Google) any info on a “Bio & Med Tech Fund of the Future SPV2 LP” However this could be a newly found “SPV” investor group. https://learn.angellist.com/articles/spv
There are 100,300,000 NGIO/NUGX Total Outstanding Shares
Generex owns 64,151,880 (63.96%) shares + 100,000 shares of preferred stock
Leaving 36,148,120 shares owned by countless individuals
https://www.sec.gov/Archives/edgar/data/18045...orm10q.htm
https://www.sec.gov/Archives/edgar/data/10597...orm10q.htm (Page 23)
The going concern Olaregen is valued at $18,380,053. The purchase price (if sold) should be around this value to avoid any fraud.
The NuGenerex (NGIO) could be less than $500,000,000 since that is only an appraisal.
However there will be extreme pressure that NuGenerex be sold for maximum value by the creditors since this is the only money (besides Olaregen) they will ever get.
Realistically, probably the only gain (money) we might get is if we own (I do) shares of NuGenerex. The buyers will either just buy all the Generex NGIO/NUGX shares or just controlling interest and that will finally give our NGIO/NUGX pps a true value, or the buyers will buy all NGIO/NUGX outstanding shares (100,300,000) and we will get paid cash.
As for any value left for our GNBT shares, it is probably a very long shot. If we subtract the $400,450,000 (Bedford) and $55,100,000 (Beijing) claims, which I believe are ridiculously inflated, that leaves $66,078,327.37 of disputable claims.
Subtract Olaregen $18,380,053 that leaves $47,698,274 needed to fully pay all the creditors. NuGenerex would need to be sold at $.75/share to get that amount ($47,698,274 / 64,151,880 shares). That is a long way from the appraisal value of $4.985/share ($319,800,000 / 64,151,880 shares).
I would not be surprised if there are some “high rollers” owning NuGenerex stock that will be scrutinizing the Generex asset sale for any fraudulent misdeeds.
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