I looked at a previous 10K and see that this lease
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Posted On: 11/05/2021 10:23:07 PM
I looked at a previous 10K and see that this lease in Miramar costs around $7500.00 a month before a subsequent renewal a couple of years ago. That’s expensive for the diagnostic division or as the company’s HQ. They never appear to actually be operational on any test kits. The llc helps protect the parent company, but you can’t just walk away from a commercial lease.
As soon as this pandemic hit, this property should have been recognized as not needed. The company’s CEO or attorney could have professionally approached Sunbeam about the need to leave the lease early. Perhaps that happened and Sunbeam was irrational. That happens a lot. I’m sure this will be in the coming 10K.
Generex is most likely operating like many of you all do this year in business. Joe probably has an office at home. He can meet teams or vital peers in a hotel lobby if “in person” is best. It’s just unfortunate for the matter to be another legal mark against Generex. But everything they do in vaccine development is super expensive so until we get the IPO, Joe must be making tough decisions to do anything to hold on until real funds can be raised. Keep fighting, Joe!
As soon as this pandemic hit, this property should have been recognized as not needed. The company’s CEO or attorney could have professionally approached Sunbeam about the need to leave the lease early. Perhaps that happened and Sunbeam was irrational. That happens a lot. I’m sure this will be in the coming 10K.
Generex is most likely operating like many of you all do this year in business. Joe probably has an office at home. He can meet teams or vital peers in a hotel lobby if “in person” is best. It’s just unfortunate for the matter to be another legal mark against Generex. But everything they do in vaccine development is super expensive so until we get the IPO, Joe must be making tough decisions to do anything to hold on until real funds can be raised. Keep fighting, Joe!
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