Pursuant to the non-binding Letter of Intent, SeD
Post# of 30028
Quote:
Pursuant to the non-binding Letter of Intent, SeD Biomedical is entitled to select certain members of the Company’s Board of Directors, and has named four of the Company’s current eight directors. Those directors named by SED BioMedical Inc. recused themselves from all deliberations regarding the Secured Note, the SPA, the Second Amendment and the Pledge Agreement Amendment.