Claritas Pharmaceuticals Inc V.CLAS.H

Why did this deal fall through?

[IamFloored]

Just asking someone out there who is knowledgeable with the inside management team at KLY. I read that David Basso appeared to be involved with several biotech start up companies and was a major shareholder in many of them. On March 5, 2020 media release, Kalytera was to aquire Stero Biotech. Additional information talked about closing conditions involving a 100:1 share consolidation and a 10 million dollar private placement. I also read a source that Mr. Basso appeared to be the CEO of Stero Biotech. And on the closing of the deal, he would become the CEO and Chairman of Kalytera. And, he would be replacing the current board of directors. IF this is all true, is there no conflict of interest here or violation of any securites regulations. Just wondering? Intelligent answers only please?

[Theknocker91]

I'm hoping that the Stero deal was a bluff, to get potential licensing deals or partnerships a better deal, and now they've cancelled the LOI and will get a good deal. But it does seem that this is a ponzi scheme to continually dilute shareholders and doing backroom deals with insiders to enrich themselves. If kaly refuses to be transparent, there is nothing wrong with believing this given

[Jack4000]

This post has been removed in accordance with Community Policy

[IamFloored]

Yeah, I don't think it was bluff. I wonder if there was a securities violation with the nature and parties involved in the deal? This company issues alot of paper to pay off debts. In short, ever hear of the analogy "Robbing Peter to Pay Paul"? 

[Theknocker91]

Guess we won't know real soon, this company says nothing