Maybe MMPJOE could comment albeit generally. From ihub watcher123:
You guys don't get it. Medoc is Veneto. Veneto is Medoc. This was not some of the guys, it IS the guys. It was not Medoc business that got in trouble, this WAS the ENTIRE business. Veneto did not operate independent of Medoc. They changed the name and rebranded as Veneto (which was one of their shell companies) to sell it off to some very foolish buyers. Same management, same everything. Don't kid yourself, everything operational was interchangeable. Medoc and Veneto. The pharmacies, lab and MSOs. Even the Pantheon group were former associates of Veneto/Medoc and were at one point to be acquired by them, that is before the feds raided them.
You might find this tidbit interesting. Google: DC-19-11193. This was a former Medoc employee who was then was rebranded as a Veneto employee (you will see everything that was Medoc disappeared and became Veneto) and was acquired by NuGenerex:
"...Following the asset purchase, NuGenereX entered into an Executive
Employment Agreement (the “Employment Agreement”) With Worster dated November 1, 2018.
Pursuant t0 the Employment Agreement, Worster became employed as NuGenereX’ Chief
Compliance Officer at salary 0f $185,000 for three-year term (subject t0 termination as
outlined in the Employment Agreement). The Employment Agreement also incorporated the
Stock Agreement previously entered into between Worster and Generex and indicated that any
stock referenced was both NuGenereX and Generex stock. The Employment Agreement also
subjected Worster to oversight by and responsibilities for Generex, which is NuGenerex’ parent
corporation."
"On February 4, 2019, Worster entered into an Amendment to Executive
Employment Agreement (the “Amendment”) that reduced his base salary to $148,000 but
provided him Generex common stock in an amount equal to 20% of the difference between his
$185,000 prior base salary and his $148,000 new base salary. The Employment Agreement
otherwise remained the same. This resulted in approximately 3,500 shares of stock being issued
to Worster.
17. During the second quarter of this year, Worster raised issues and concerns
regarding the accuracy of certain securities filings, HIPAA matters, and government payors in
the Workers’ Compensation area (among other concerns). Worster’s concerns were ignored.
18. Shortly thereafter, on June 10, 2019, Worster was abruptly and without notice
terminated. When Worster inquired as to the reason for his termination, he was told that the
directive from NuGenerex’ General Counsel was to indicate that the termination was
performance related. However, Worster had no history of performance issues and none were
raised with him during his termination meeting.
19. On June 17, 2019, NuGenerex provided Worster a formal termination letter
indicating that his termination was “For Cause” as that term is defined in the Employment
Agreement. Not surprisingly, however, the letter provided no explanation of the type of “For
Cause” termination. Worster later learned from former co-workers that those co-workers were
receiving requests post-termination to provide support for a “For Cause” termination."
IMHO Generex management leaves MUCH to be desired.
You guys don't get it. Medoc is Veneto. Veneto is Medoc. This was not some of the guys, it IS the guys. It was not Medoc business that got in trouble, this WAS the ENTIRE business. Veneto did not operate independent of Medoc. They changed the name and rebranded as Veneto (which was one of their shell companies) to sell it off to some very foolish buyers. Same management, same everything. Don't kid yourself, everything operational was interchangeable. Medoc and Veneto. The pharmacies, lab and MSOs. Even the Pantheon group were former associates of Veneto/Medoc and were at one point to be acquired by them, that is before the feds raided them.
You might find this tidbit interesting. Google: DC-19-11193. This was a former Medoc employee who was then was rebranded as a Veneto employee (you will see everything that was Medoc disappeared and became Veneto) and was acquired by NuGenerex:
"...Following the asset purchase, NuGenereX entered into an Executive
Employment Agreement (the “Employment Agreement”) With Worster dated November 1, 2018.
Pursuant t0 the Employment Agreement, Worster became employed as NuGenereX’ Chief
Compliance Officer at salary 0f $185,000 for three-year term (subject t0 termination as
outlined in the Employment Agreement). The Employment Agreement also incorporated the
Stock Agreement previously entered into between Worster and Generex and indicated that any
stock referenced was both NuGenereX and Generex stock. The Employment Agreement also
subjected Worster to oversight by and responsibilities for Generex, which is NuGenerex’ parent
corporation."
"On February 4, 2019, Worster entered into an Amendment to Executive
Employment Agreement (the “Amendment”) that reduced his base salary to $148,000 but
provided him Generex common stock in an amount equal to 20% of the difference between his
$185,000 prior base salary and his $148,000 new base salary. The Employment Agreement
otherwise remained the same. This resulted in approximately 3,500 shares of stock being issued
to Worster.
17. During the second quarter of this year, Worster raised issues and concerns
regarding the accuracy of certain securities filings, HIPAA matters, and government payors in
the Workers’ Compensation area (among other concerns). Worster’s concerns were ignored.
18. Shortly thereafter, on June 10, 2019, Worster was abruptly and without notice
terminated. When Worster inquired as to the reason for his termination, he was told that the
directive from NuGenerex’ General Counsel was to indicate that the termination was
performance related. However, Worster had no history of performance issues and none were
raised with him during his termination meeting.
19. On June 17, 2019, NuGenerex provided Worster a formal termination letter
indicating that his termination was “For Cause” as that term is defined in the Employment
Agreement. Not surprisingly, however, the letter provided no explanation of the type of “For
Cause” termination. Worster later learned from former co-workers that those co-workers were
receiving requests post-termination to provide support for a “For Cause” termination."
IMHO Generex management leaves MUCH to be desired.
