GC's future is less than clear. As set forth be
Post# of 30066
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Posted On: 03/29/2017 6:37:05 PM
GC's future is less than clear.
As set forth below, it appears that they are taking ESS from him. Maybe he holds on to MANF and Eltoprazine.
This is from the deal with the debt holders:
The debt holders and preferreds will have the ability to sell some or all of their 35% in Cutanogen to a third party (possibly Aliqua).
And they are putting a new board of directors in place for Cutanogen.
And they are going to have Aliqua provide management for the sub.
I read that to say that GC is probably out as far as day-to-day management of ESS goes.
We shall see.
As set forth below, it appears that they are taking ESS from him. Maybe he holds on to MANF and Eltoprazine.
This is from the deal with the debt holders:
Quote:
Cutanogen
a. Secured and preferred holders will have the ability to sell their interest in Cutanogen to a third party upon approval from the newly appointed board of directors of Cutanogen.
b. A letter of intent is being drafted for Alliqua to provide management infrastructure to Cutanogen on an interim basis.
The debt holders and preferreds will have the ability to sell some or all of their 35% in Cutanogen to a third party (possibly Aliqua).
And they are putting a new board of directors in place for Cutanogen.
And they are going to have Aliqua provide management for the sub.
I read that to say that GC is probably out as far as day-to-day management of ESS goes.
We shall see.
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