Hey Dawg I went through some of the TXTM filing
Post# of 40991
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Posted On: 12/25/2017 1:17:58 PM
Re: OldSaltDawg #3867
Hey Dawg
I went through some of the TXTM filings yesterday, and checked your links. One thing I’ve always been curious about is whatever became of the business operations owned by TXTM prior to merging with Planda Biotechnology South Africa.
According to the language (listed below) neither company was to buy, sell, or alter their current operations prior to and during the merger. So that tells me TXTM still owns what they had prior to the merger. I have found noting to indicate they’ve done away with it. Don’t even remember what they owned, but don’t think it had anything in common with their current business operation.
Just wondering if Berman wants it in exchange for his class C preferred shares. Don’t want to speculate too much but just wondering if that’s a possibility. I believe it was mentioned awhile back that Berman and TXTM/Planda are not on the best of terms, can’t confirm that’s true though. Perhaps this is his way to break from them.
Should find out soon what’s going on.
“Ownership of Assets and Property. Each party has lawful title and ownership of it property as reported to the other, and as disclosed in its financial statements.”
“The business of each party shall be conducted only in the ordinary and usual course and consistent with its past practice, and neither party shall purchase or sell (or enter into any agreement to so purchase or sell) any properties or assets or make any other changes in its operations.”
I went through some of the TXTM filings yesterday, and checked your links. One thing I’ve always been curious about is whatever became of the business operations owned by TXTM prior to merging with Planda Biotechnology South Africa.
According to the language (listed below) neither company was to buy, sell, or alter their current operations prior to and during the merger. So that tells me TXTM still owns what they had prior to the merger. I have found noting to indicate they’ve done away with it. Don’t even remember what they owned, but don’t think it had anything in common with their current business operation.
Just wondering if Berman wants it in exchange for his class C preferred shares. Don’t want to speculate too much but just wondering if that’s a possibility. I believe it was mentioned awhile back that Berman and TXTM/Planda are not on the best of terms, can’t confirm that’s true though. Perhaps this is his way to break from them.
Should find out soon what’s going on.
“Ownership of Assets and Property. Each party has lawful title and ownership of it property as reported to the other, and as disclosed in its financial statements.”
“The business of each party shall be conducted only in the ordinary and usual course and consistent with its past practice, and neither party shall purchase or sell (or enter into any agreement to so purchase or sell) any properties or assets or make any other changes in its operations.”
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