Thanks.
As previously disclosed, the Suda Transaction includes the sale of NovaDel’s patents and trademarks relating to its NovaMist technology.
The Suda Transaction, as contemplated, does not include the NitroMist® or ZolpiMist™ intellectual property or licenses.
NovaDel received $400,000 in cash, 50,000,000 shares of Suda common stock and 10,000,000 options for the purchase of Suda common shares at a purchase price of $0.05 per share.
It is the Company’s intention to use part of the proceeds from the Suda Transaction, after transaction expenses, to reduce its outstanding liabilities.