GREY:TBPMQ - Post by User
Post by
SamV21on Oct 23, 2022 1:45am
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Post# 35041684
Tetra made this deal in 2019, Tetra is broke ,THE END
Tetra made this deal in 2019, Tetra is broke ,THE ENDTetra will shift to Panag Pharma Inc. a company that Guy set up with Tetra shareholder money , any assets left will be taken over by Panag Pharma .The Agreement also contemplates the payment by Tetra to the Vendors of an aggregate amount of up to $15,000,000 in cash in milestone payments upon the achievement of operational targets associated with marketing approvals and commercialization of both human and veterinary drug products by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). Tetra is committed to fund Panag's research in an amount no less than $1,200,000 annually for a period of ten years after the closing date of the Proposed Acquisition. The milestone payments would be accelerated in the event of a bankruptcy, insolvency, failure of Tetra to make its funding commitments to Panag, change of control or sale of all of the assets of Tetra at any time until December 31, 2028. In addition, in the event of a change of control of Tetra within 24 months of the closing date of the Proposed Acquisition, the Vendors would be entitled to receive from Tetra an additional $10 million.
Guy will continue with Panag Pharma a private company and shareholders left with nothing ! All and any money or assets Tetra has will be gone .