So far last 10Q filed 6/21/21
Definitely need clarification of China agreement status ....... potential for questionable transactions if Management decide to quietly resign and or deliberately ignore 10q/k filings due ....
Where did the money go?????
If the Vaccine fails in its clinical trials, Generex will compensate the Joint Entity through one of two methods:
1. Generex will grant the Joint Entity sole and exclusive use of its technology and related intellectual property in Excellagen for a license fee of $10 million less the $5 million paid to Generex pursuant to the COVID Agreement and the remaining $5 million will be paid to Generex following NMPA approval; or
2. Generex will grant the Joint Entity with a sole and exclusive license for the whole Ii-Key platform which includes infectious diseases and cancer for a $50 million license fee less the $5 million license fee paid to Generex pursuant to the COVID Agreement.
The COVID Agreement also provides for the Joint Entity having a right of first refusal for the Ii-Key vaccine technology for oncology, infectious disease, and autoimmune diseases for an upfront license fee of $50 million.
As of April 30, 2021, Generex, has received approximately 4,500,000, net of taxes, from the COVID Agreement in cash to pursue the commercialization of the Vaccine.
On November 13, 2020, Generex and the China Partners entered into the Ii-Key Innovative Flu Vaccine Development Agreement (the “Swine Flu Agreement”). Pursuant to the Swine Flu Agreement, the parties agreed that upon the successful development of the flu vaccine and receipt of approval from NMPA for the product launch, the Joint Entity shall have a sole and exclusive world-wide license for swine flu and shall pay Generex a license fee of $2.5 million less certain costs estimated at $500,000.
Employee Compensation and Settlement Agreements
During the nine months ended April 30, 2021, the Company awarded executives and employees bonus compensation of $7,060,417 to be paid in approximately $1 million in cash and $6 million in stock.
Definitely need clarification of China agreement status ....... potential for questionable transactions if Management decide to quietly resign and or deliberately ignore 10q/k filings due ....
Where did the money go?????
If the Vaccine fails in its clinical trials, Generex will compensate the Joint Entity through one of two methods:
1. Generex will grant the Joint Entity sole and exclusive use of its technology and related intellectual property in Excellagen for a license fee of $10 million less the $5 million paid to Generex pursuant to the COVID Agreement and the remaining $5 million will be paid to Generex following NMPA approval; or
2. Generex will grant the Joint Entity with a sole and exclusive license for the whole Ii-Key platform which includes infectious diseases and cancer for a $50 million license fee less the $5 million license fee paid to Generex pursuant to the COVID Agreement.
The COVID Agreement also provides for the Joint Entity having a right of first refusal for the Ii-Key vaccine technology for oncology, infectious disease, and autoimmune diseases for an upfront license fee of $50 million.
As of April 30, 2021, Generex, has received approximately 4,500,000, net of taxes, from the COVID Agreement in cash to pursue the commercialization of the Vaccine.
On November 13, 2020, Generex and the China Partners entered into the Ii-Key Innovative Flu Vaccine Development Agreement (the “Swine Flu Agreement”). Pursuant to the Swine Flu Agreement, the parties agreed that upon the successful development of the flu vaccine and receipt of approval from NMPA for the product launch, the Joint Entity shall have a sole and exclusive world-wide license for swine flu and shall pay Generex a license fee of $2.5 million less certain costs estimated at $500,000.
Employee Compensation and Settlement Agreements
During the nine months ended April 30, 2021, the Company awarded executives and employees bonus compensation of $7,060,417 to be paid in approximately $1 million in cash and $6 million in stock.
