That is correct 5M from E series dilution so fa
Post# of 30067
Posted On: 12/20/2014 7:59:19 PM
Re: the gipper #13514
That is correct
ESS Deal taken from the 8K - http://www.otcmarkets.com/edgar/GetFilingPdf?...D=10311196
Option Cost $250K
Fee $3,5M Regenecin and CCLG
37,500,000 Shares ($3M)
Legal Services $450K
Breakdown:
At Closing
$300,000 to Regenicin
$200,000 to CCLG
On or before December 31, 2014:
$150,000 to Regenicin
$100,000 to CCLG
On January 31, 2015
$2,550,000 to Regenicin
$200,000 to CCLG
In addition, pay Lonza:
1st Milestone $4M - Closing
2nd Milestone $1M - Successful Completion of Phase 1 Clinical Trial or
submission for Humanitarian Use Exemption or similar exemption, compassionate care or regulatory submission to the FDA or EMA (whichever occurs sooner)
3rd Milestone$4M - Submission of a Biologic License Application to the FDA (or
equivalent agency if the first submission is outside the United
States) or the approval of HUE by the FDA or EMA (whichever occurs
sooner)
Plus 2%)of Net Sales of each Earnout Product until the later of: (a) expiration of the last to expire Valid Claim among the Patent Rights; and (b) ten (10)
years after the first commercial sale of any Earnout Product (the “Royalty Term”).
"ESS is a product with a somewhat checked past (we discuss below). There is active litigation between Lonza and publicly-traded Regenicin Inc. (RGIN) that encumbers the asset from future development. In short, Regenicin is suing Lonza for breach of contract on a previous transaction / know-how agreement on the ESS product rights. To unencumber the ESS product, Amarantus is acquiring the lawsuit from Regenicin Inc. for the sum of $3.5 million in cash and $3.0 million in Amarantus stock. The schedule of payments between Amarantus and Regenicin can be found in a Form 8K filed by Amarantus on November 14, 2014. As of today, Amarantus has already paid Regenicin (or its lawyers) $500,000 in cash and 37.5 million shares of AMBS stock. The remaining $3.0 million in cash will be paid by January 31, 2015. Amarantus has also paid $450,000 to its lawyers for legal services.
All-in, this asset cost (or will cost) Amarantus $11.2 million in combined cash and stock on or before January 31, 2014. Future milestones to Lonza bring the total to $16.2 million + 2% royalties on commercial sales. In an effort to fund the initial payments to acquire ESS, Amarantus raised $3.0 million in cash on November 7, 2014 through the sale of 3,300 shares of newly designated Series E 12% Convertible Preferred Stock. On November 12, 2014, the company also extinguished $500,000 in a promissory note through an additional Series E Preferred Stock transaction. We remind investors that Amarantus also has significant room under its common stock purchase agreement with Lincoln Park Capital to raise additional capital in the near future. Under the current plan, Amarantus can raise up to $17 million in cash with LPC."
http://finance.yahoo.com/news/ambs-astute-dea...00455.html
Quote:
5M from E series dilution so far is only HALF of what the cost is correct??
ESS Deal taken from the 8K - http://www.otcmarkets.com/edgar/GetFilingPdf?...D=10311196
Option Cost $250K
Fee $3,5M Regenecin and CCLG
37,500,000 Shares ($3M)
Legal Services $450K
Breakdown:
At Closing
$300,000 to Regenicin
$200,000 to CCLG
On or before December 31, 2014:
$150,000 to Regenicin
$100,000 to CCLG
On January 31, 2015
$2,550,000 to Regenicin
$200,000 to CCLG
In addition, pay Lonza:
1st Milestone $4M - Closing
2nd Milestone $1M - Successful Completion of Phase 1 Clinical Trial or
submission for Humanitarian Use Exemption or similar exemption, compassionate care or regulatory submission to the FDA or EMA (whichever occurs sooner)
3rd Milestone$4M - Submission of a Biologic License Application to the FDA (or
equivalent agency if the first submission is outside the United
States) or the approval of HUE by the FDA or EMA (whichever occurs
sooner)
Plus 2%)of Net Sales of each Earnout Product until the later of: (a) expiration of the last to expire Valid Claim among the Patent Rights; and (b) ten (10)
years after the first commercial sale of any Earnout Product (the “Royalty Term”).
"ESS is a product with a somewhat checked past (we discuss below). There is active litigation between Lonza and publicly-traded Regenicin Inc. (RGIN) that encumbers the asset from future development. In short, Regenicin is suing Lonza for breach of contract on a previous transaction / know-how agreement on the ESS product rights. To unencumber the ESS product, Amarantus is acquiring the lawsuit from Regenicin Inc. for the sum of $3.5 million in cash and $3.0 million in Amarantus stock. The schedule of payments between Amarantus and Regenicin can be found in a Form 8K filed by Amarantus on November 14, 2014. As of today, Amarantus has already paid Regenicin (or its lawyers) $500,000 in cash and 37.5 million shares of AMBS stock. The remaining $3.0 million in cash will be paid by January 31, 2015. Amarantus has also paid $450,000 to its lawyers for legal services.
All-in, this asset cost (or will cost) Amarantus $11.2 million in combined cash and stock on or before January 31, 2014. Future milestones to Lonza bring the total to $16.2 million + 2% royalties on commercial sales. In an effort to fund the initial payments to acquire ESS, Amarantus raised $3.0 million in cash on November 7, 2014 through the sale of 3,300 shares of newly designated Series E 12% Convertible Preferred Stock. On November 12, 2014, the company also extinguished $500,000 in a promissory note through an additional Series E Preferred Stock transaction. We remind investors that Amarantus also has significant room under its common stock purchase agreement with Lincoln Park Capital to raise additional capital in the near future. Under the current plan, Amarantus can raise up to $17 million in cash with LPC."
http://finance.yahoo.com/news/ambs-astute-dea...00455.html
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