I also think it's strange not to keep the business
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Posted On: 06/14/2019 1:48:12 AM
I also think it's strange not to keep the business entity in good standing, especially when you consider the small dollar amount and that patent applications probably were filed in that entity's name.
If in fact patents were filed in the name of MANF Therapeutics Inc., the only plausible reason I can think of for not keeping the entity active would be if they entered into an intellectual property assignment agreement with another entity.
For example, MANF could have assigned all IP rights to the AMBS holding company or another company that isn't affiliated with AMBS. If they executed such an agreement with a non-affiliated company, it would be considered a material event. Companies are usually required to report material events to the SEC in a 8-K filing. However, AMBS may not be required to do so because of the less stringent reporting requirements under the JOBS Act.
As you may recall, they decided to switch to those rules as part of their desire to do a Reg A+ transaction. If you read the following link, the company said it planned to continue disclosing important information. But keep in mind, it may not legally be required to do so.
https://www.amarantus.com/news/press-releases...ate-update
Last week Gerald said in his LD Micro presentation they are planning to spin out MANF Therapeutics. Perhaps they've already gotten a jump start on that process by entering into a IP assignment agreement with a company they plan to partner with. Just my two cents worth of speculation of course.
If in fact patents were filed in the name of MANF Therapeutics Inc., the only plausible reason I can think of for not keeping the entity active would be if they entered into an intellectual property assignment agreement with another entity.
For example, MANF could have assigned all IP rights to the AMBS holding company or another company that isn't affiliated with AMBS. If they executed such an agreement with a non-affiliated company, it would be considered a material event. Companies are usually required to report material events to the SEC in a 8-K filing. However, AMBS may not be required to do so because of the less stringent reporting requirements under the JOBS Act.
As you may recall, they decided to switch to those rules as part of their desire to do a Reg A+ transaction. If you read the following link, the company said it planned to continue disclosing important information. But keep in mind, it may not legally be required to do so.
https://www.amarantus.com/news/press-releases...ate-update
Last week Gerald said in his LD Micro presentation they are planning to spin out MANF Therapeutics. Perhaps they've already gotten a jump start on that process by entering into a IP assignment agreement with a company they plan to partner with. Just my two cents worth of speculation of course.
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