Many Bright Ideas Technologies Inc V.MBI.H

RE:MBI

[gpeccary]

No news. An extract from yerderday's MD&A:

"... MBI has acted to secure new commercial agreements. As of this writing, no new agreement has been executed, and MBI remains committed to exploring all possible options. While the termination and settlement of the prior Helomics™ agreement relieved MBI of any and all indebtedness and other obligations, it provided only limited actual cash to MBI.
As a result MBI continues to operate in as lean a manner as possible to conserve cash reserves while exploring other commercialization options. The Company needs to find another licensing partner for its intellectual property in order to maintain operations. Management strongly believes the existing clinical and utility test data for the test is compelling and is pursuing all available options to establish a new licensing partner. Management’s intention is to implement a much simpler licensing agreement structure than was previously in place, with stronger mechanisms to ensure a royalty stream begins sooner and is less cluttered by encumbrances and other setoffs. Such a relationship will also depend on the willingness of the new licensing partner to entertain such terms in the final agreement."