"3Q 2019 Events in Progress In July 2019 CEO Keit
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Posted On: 11/15/2019 8:53:19 AM
"3Q 2019 Events in Progress
In July 2019 CEO Keith Berman approached the company Board of Directors with a plan and offer to, from time to time, through a proposed settlement of the litigation on-going with Johnson & Johnson, lend the company up to $450,000 through a combination of sources available to him. The Board accepted this offer, which came without pre-condition. Mr. Berman made it clear that he would rather lend the company money himself or through close friends and family, than to sell low priced equity to small institutions, given the likelihood of a handsome settlement of the litigation with Johnson & Johnson. The first loans totaled $215,000 and were made on October 1, 2019."
Confidence and commitment - good signal
In July 2019 CEO Keith Berman approached the company Board of Directors with a plan and offer to, from time to time, through a proposed settlement of the litigation on-going with Johnson & Johnson, lend the company up to $450,000 through a combination of sources available to him. The Board accepted this offer, which came without pre-condition. Mr. Berman made it clear that he would rather lend the company money himself or through close friends and family, than to sell low priced equity to small institutions, given the likelihood of a handsome settlement of the litigation with Johnson & Johnson. The first loans totaled $215,000 and were made on October 1, 2019."
Confidence and commitment - good signal
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