Let me see if I can sum this up without the bicker
Post# of 30066
(Total Views: 591)
Posted On: 05/11/2019 10:43:49 AM
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Let me see if I can sum this up without the bickering. All Aboard has pointed out the original agreement to pursue this eltoprazine/coeptis deal said the following:
PsychoGenics went to the trouble of hiring lawyers, suing AMBS, and then signing a settlement agreement which required:
"
1) AMBS to pay PsychoGenics $100K, (2) AMBS to pay PsychoGenics $1 million upon receipt of such funds from Coeptis upon the close of an Elto Pharma and Coeptis merger; and (3) Coeptis raising a minimum of $6,000,000 of dedicated funds to advance eltoprazine into Phase 2b human trials by April 23rd, 2019. "
So it's reasonable to have some concerns.
If (1) - (3) didn't happen (which it didn't), PscyhoGenics may terminate the Eltoprazine License.
Since that deal was agreed to, for better or worse, there have been several deviations from the plan. These include coeptis hiring a new, highly experienced pharmaceutical CEO, Coeptis being sued by another company for failure to pay (a response to which will be issued NLT May 20), and Coeptis either failing to raise, or electing to delay the raise of millions of dollars in pre-ipo money. Additionally, our LCD holder is being sued by the SEC and we've executed the todos medical lympro partnership and added Mike Rea to all efforts. Things that haven't changed include Kitovs continued partnership, no LCD dilution, no reliable public timelines
and continued MANF. Point being, things remain the same. This remains an investment with a lot of upside and plenty of pitfalls. But we're not dead yet and to me, the ground beneath our feet seems to be firming.
PsychoGenics went to the trouble of hiring lawyers, suing AMBS, and then signing a settlement agreement which required:
"
1) AMBS to pay PsychoGenics $100K, (2) AMBS to pay PsychoGenics $1 million upon receipt of such funds from Coeptis upon the close of an Elto Pharma and Coeptis merger; and (3) Coeptis raising a minimum of $6,000,000 of dedicated funds to advance eltoprazine into Phase 2b human trials by April 23rd, 2019. " So it's reasonable to have some concerns.
If (1) - (3) didn't happen (which it didn't), PscyhoGenics may terminate the Eltoprazine License.
Since that deal was agreed to, for better or worse, there have been several deviations from the plan. These include coeptis hiring a new, highly experienced pharmaceutical CEO, Coeptis being sued by another company for failure to pay (a response to which will be issued NLT May 20), and Coeptis either failing to raise, or electing to delay the raise of millions of dollars in pre-ipo money. Additionally, our LCD holder is being sued by the SEC and we've executed the todos medical lympro partnership and added Mike Rea to all efforts. Things that haven't changed include Kitovs continued partnership, no LCD dilution, no reliable public timelines
and continued MANF. Point being, things remain the same. This remains an investment with a lot of upside and plenty of pitfalls. But we're not dead yet and to me, the ground beneath our feet seems to be firming. 
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