Some posters(mainly on the ILie Board) and one her
Post# of 72447
(Total Views: 444)
Posted On: 04/23/2018 3:10:50 PM
Some posters(mainly on the ILie Board) and one here have questioned IPIX’s to finance the manufacture of the B sachets thru Evonik, As a banker in my day job, this should not be an issue for IPIX,
First, as Leo stated in this excellent PR this morning, they have extra quantities of B.
Second, Evonik would not accept a purchase order to manufacture these sachets for IPIX without doing some type of credit check on IPIX. IF it is a large order, due to IPIX’s financial condition, they would probably require an invoice from the BIg Pharma who will be distributing the sachets.
Third, to mitigate their risk, they could require that any payments from Big Pharma be made jointly payable to Evonik and IPIX. The check comes to IPIX, they sign off and send it to Evonik for their signature. Evonik then cashes the check, takes the amount due to them and sends the remaining balance back to IPIX.
This process is not uncommon in banking when small companies receive a large purchase order by a large company and don’t have the funds to finance it. These companies turn to their bank for financing. The Bank requires the checks from this contract be made jointly payable to both their client and to the Bank.
This process thus eliminates the risk of payment for Evonik and eliminates the need for cash for IPIX......win...win for both entities. Mr. ProPoster on ILiehub probably knew it but just wanted to spread additional FUD like he always does.
Bottom line, I don’t think the official from Evonik would be quoted in the PR without the company doing some solid DD on both B and IPIX. Good job Leo and team!!!
First, as Leo stated in this excellent PR this morning, they have extra quantities of B.
Second, Evonik would not accept a purchase order to manufacture these sachets for IPIX without doing some type of credit check on IPIX. IF it is a large order, due to IPIX’s financial condition, they would probably require an invoice from the BIg Pharma who will be distributing the sachets.
Third, to mitigate their risk, they could require that any payments from Big Pharma be made jointly payable to Evonik and IPIX. The check comes to IPIX, they sign off and send it to Evonik for their signature. Evonik then cashes the check, takes the amount due to them and sends the remaining balance back to IPIX.
This process is not uncommon in banking when small companies receive a large purchase order by a large company and don’t have the funds to finance it. These companies turn to their bank for financing. The Bank requires the checks from this contract be made jointly payable to both their client and to the Bank.
This process thus eliminates the risk of payment for Evonik and eliminates the need for cash for IPIX......win...win for both entities. Mr. ProPoster on ILiehub probably knew it but just wanted to spread additional FUD like he always does.
Bottom line, I don’t think the official from Evonik would be quoted in the PR without the company doing some solid DD on both B and IPIX. Good job Leo and team!!!
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