Predictably, Ian met the pay-up deadline for his debt to Serentiy, which had already been extended, and he decided one more time
not to pay up. To convince Serenity that he's not just stringing them along [stifled laughter] he offered to pay a 50% premium on the agreed-to amount for the principal owing. I mean, who wouldn't do that? Fair is fair.
Meanwhile, S-l-o-w Eddie is keeping out of site, just putting in the hours at his other job in the Cinnabon at Seaway Mall. Normally he'd be tweeting "Great news!", or "Fantastic!", or "Keep up the good work, people!", but the photo below illustrates that he's hiding in a dumpster behind the Seaway Mall until this crisis blows over, which it will at the end of this month.
If you'd like to help out and save Acerus, and make it possible to continue paying the salary of executives just like S-l-o-w Eddie, please join our asset sale, M&A, or licensing transaction telethon. Pick up the phone and call Michael Hayes right now at 416 575 9089
Acerus Pharmaceuticals Corporation (the “Company” or “Acerus”) (TSX:ASP; OTCQB:ASPCF) today announced that it has amended the promissory note (the “Note”) in the amount of US$4.91 million related to the up-front fee owed to former Serenity Pharmaceuticals LLC (“Serenity”) securityholders. The securityholder representative and Acerus agreed that the amount of the note would be increased to US$7.75 million. This amendment will allow Acerus more time to complete its previously announced strategic review. 