Here is my takeaway from the press release. SeD

Here is my takeaway from the press release.

SeD Biomedical Inc. agreed in a non-binding letter of intent to give Amarantus bridge financing. The amount is undisclosed. The bridge financing will help Amarantus pay down key expenses and initiate the process of settling Amarantus' outstanding secured debt and convertible preferred equity securities, in addition to Amarantus' accounts payable. The use of funds will be mutually agreed between Amarantus and SeD Biomed.

SeD Biomedical Inc. also agreed to consider contributing 4 yet to be acquired target assets to AMBS principally in exchange for AMBS stock. Before they will agree to do so, (1) all current liens held by secured debt holders of Amarantus have to be released and (2) the bridge financing must be fully funded. (The second condition is weird as it is entirely in the control of SeD Biomedical Inc.)

SeD Biomed is entitled to appoint four (4) directors to the board of directors of Amarantus (Ronald Wei, Steven Spence, Robert Trapp, and Conn Flanigan). In addition, they are entitled to appoint an additional two directors (2) following the funding of the first tranche of the bridge financing. (So, 2 more SeD Biomed directors to come.)

Lastly, SeD Biomed is entitled to appoint an interim-CFO (Ronald Wei).

It is hard to say what this all means without knowing the following:

1. Number of currently issued and outstanding shares;

2. Amount of bridge financing;

3. What is the "the process of settling Amarantus' outstanding secured debt and convertible preferred equity securities."

All good stuff, but hard to know whether it will materially help the company without more details.