Hello Doc:
I was reviewing the NGIO quarterly report dated 3/12/2021 and I copied and pasted this excerpt from page 10 (not sure if this was already discussed or mentioned):
"During the period ending January 31, 2021 the Company entered a Letter of Understanding with Generex, which illustrated the following terms in relation to fee sharing, considering the Bintai Agreement:
1. The Company shall perform all applicable services, terms and conditions under the Agreement.
2. Generex shall pay the Company 90% of all fees derived from the Bintai Agreement.
3. Generex shall pay for the cost to get the Ii-Key Peptide Vaccine for COVID-19 completed or until NGIO is publicly listed on a national exchange, such as NASDAQ. All payments made by Generex related to this agreement shall be recorded as capital contributions to the Company, as the Company will not repay these.
As of January 31, 2021 there have been $2,000,000 received in connection with this contract. The Company has recorded $1,800,000 as a due from parent with an offset to contract liability".
So the payment of $2,000,000 was already paid to GNBT/NGIO by Bintal.
On another note, patience is key here. THERE HASN'T BEEN ANY NEGATIVE STATEMENTS or COMMENTS MADE BY GENEREX REGARDING THE NGIO IPO.
Now if everyone can take a chill pill.
Also, I really wish that the likes of certain posters would stop rehashing the same old negatives and just go back to and remain at the YMB...it suits you so much better. You know who you are!
Maddog
I was reviewing the NGIO quarterly report dated 3/12/2021 and I copied and pasted this excerpt from page 10 (not sure if this was already discussed or mentioned):
"During the period ending January 31, 2021 the Company entered a Letter of Understanding with Generex, which illustrated the following terms in relation to fee sharing, considering the Bintai Agreement:
1. The Company shall perform all applicable services, terms and conditions under the Agreement.
2. Generex shall pay the Company 90% of all fees derived from the Bintai Agreement.
3. Generex shall pay for the cost to get the Ii-Key Peptide Vaccine for COVID-19 completed or until NGIO is publicly listed on a national exchange, such as NASDAQ. All payments made by Generex related to this agreement shall be recorded as capital contributions to the Company, as the Company will not repay these.
As of January 31, 2021 there have been $2,000,000 received in connection with this contract. The Company has recorded $1,800,000 as a due from parent with an offset to contract liability".
So the payment of $2,000,000 was already paid to GNBT/NGIO by Bintal.
On another note, patience is key here. THERE HASN'T BEEN ANY NEGATIVE STATEMENTS or COMMENTS MADE BY GENEREX REGARDING THE NGIO IPO.
Now if everyone can take a chill pill.
Also, I really wish that the likes of certain posters would stop rehashing the same old negatives and just go back to and remain at the YMB...it suits you so much better. You know who you are!
Maddog
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