I agree. The negativity is not nearly as bad as
Post# of 30067
(Total Views: 309)
Posted On: 06/20/2017 1:24:07 AM
I agree.
The negativity is not nearly as bad as the Pollyana-ish tone of some posters.
First, AMBS negotiated binding LOIs with most of its preferred equity and senior debt holders.
Then, at the end of Feb, SeD agreed to provide a $500K bridge to facilitate that transaction and pay off the lawyers and valuation experts needed to finish the deal.
But, by early April, SeD backed out and said that following their preliminary due diligence, they informed Amarantus' management of strategic measures that must be met by creditors and certain other parties as a condition for any investment, loan or asset injection by SeD Biomedical.
Then they all resigned from the board.
And they threatened to terminate the LOI. That was over 2 months ago.
The deal struck in the LOIs with the preferred shareholders and debt holders required funds in the form of the SeD bridge loan to allow for completion of a valuation of both the SeD assets and any investments into AMBS or AVDX. That takes money. Money that was to come in form of the SeD bridge that never appeared.
I don't expect any deal to materialize before the 25th because there is no money.
The negativity is not nearly as bad as the Pollyana-ish tone of some posters.
First, AMBS negotiated binding LOIs with most of its preferred equity and senior debt holders.
Then, at the end of Feb, SeD agreed to provide a $500K bridge to facilitate that transaction and pay off the lawyers and valuation experts needed to finish the deal.
But, by early April, SeD backed out and said that following their preliminary due diligence, they informed Amarantus' management of strategic measures that must be met by creditors and certain other parties as a condition for any investment, loan or asset injection by SeD Biomedical.
Then they all resigned from the board.
And they threatened to terminate the LOI. That was over 2 months ago.
The deal struck in the LOIs with the preferred shareholders and debt holders required funds in the form of the SeD bridge loan to allow for completion of a valuation of both the SeD assets and any investments into AMBS or AVDX. That takes money. Money that was to come in form of the SeD bridge that never appeared.
I don't expect any deal to materialize before the 25th because there is no money.
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