Financial commitment to Olaregen: $800,000 on o
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Posted On: 02/23/2019 3:07:31 PM
Financial commitment to Olaregen:
$800,000 on or before January 15, 2019.
$800,000 on or before January 31, 2019.
$3,000,000 on or before February 28, 2019.
See here:
https://www.sec.gov/Archives/edgar/data/10597...form8k.htm
Financial commitment to Regentys:
$3,450,000 to initiate pre-clinical activities on or before January 15, 2018.
See here:
https://www.sec.gov/Archives/edgar/data/10597...form8k.htm
And what did Joe say in the last CC?
“They never received any stock. There was no stock involved with Olaregen and/or Regentis. For Olaregen, we have obligatory commercialization payments throughout the year we need to make to them. We already own 51%. We’re contracted right now to get a little over 60% by taking out some of their shareholders and exchanging their shares for Generex shares at the $2.50 share price.But out of that pool.
We will raise the money that we need to make those obligatory payments, as well as Regentis to get through the clinic, to get an FDA approval--a hopeful FDA approval. We’re highly confident they will and then up through their commercialization. So these are all--the monies that we have to pay both companies are either for commercialization or to getting their product approved. It’s not for the cost of acquisition. It’s the cost of furthering science or commercializing and having a viable product which we can sell, either through our MSO or through our other distribution channels.“
Page 10/31
https://storage.googleapis.com/wzukusers/user...6_2019.pdf
So, Generex hasn’t raised as much money thru these deals ($8.05 million) as they publicly outlined. So, they’ve raised less than expected, not more.
$800,000 on or before January 15, 2019.
$800,000 on or before January 31, 2019.
$3,000,000 on or before February 28, 2019.
See here:
https://www.sec.gov/Archives/edgar/data/10597...form8k.htm
Financial commitment to Regentys:
$3,450,000 to initiate pre-clinical activities on or before January 15, 2018.
See here:
https://www.sec.gov/Archives/edgar/data/10597...form8k.htm
And what did Joe say in the last CC?
“They never received any stock. There was no stock involved with Olaregen and/or Regentis. For Olaregen, we have obligatory commercialization payments throughout the year we need to make to them. We already own 51%. We’re contracted right now to get a little over 60% by taking out some of their shareholders and exchanging their shares for Generex shares at the $2.50 share price.But out of that pool.
We will raise the money that we need to make those obligatory payments, as well as Regentis to get through the clinic, to get an FDA approval--a hopeful FDA approval. We’re highly confident they will and then up through their commercialization. So these are all--the monies that we have to pay both companies are either for commercialization or to getting their product approved. It’s not for the cost of acquisition. It’s the cost of furthering science or commercializing and having a viable product which we can sell, either through our MSO or through our other distribution channels.“
Page 10/31
https://storage.googleapis.com/wzukusers/user...6_2019.pdf
So, Generex hasn’t raised as much money thru these deals ($8.05 million) as they publicly outlined. So, they’ve raised less than expected, not more.
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