GREY:BIXZF - Post by User
Post by
HorribleHarryon Mar 29, 2013 10:46pm
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Post# 21186842
First Things First
First Things First It seems self evident that the first priority is to have the potential partner loan BXI the funds to pay off the $6 million loan plus interest, Thereby taking over the right to the assets in the event of non repayment. The June deadline would then be extended to October. The potential partner then is in a very favourable position. They can't lose in the end game.
Thereafter either the partner signs a conditional agreement attached to the EFSA registration OR provides funding necessary to sustain the company until the registration is achieved.
On completion of the EFSA approval the JV deal is finalised.
There is a very high probability of eventual EFSA approval but in the event that a deal can't be struck , the potential partner holds the intellectual property to carry on until the true potential can be realized. Not good for the current shareholders but a good deal for the new owners.