RE:RE:RE:RE:WEBSITE PRESENTATION + OVERALL CVR MED BULLBOARD
Wounded - Thanks for the link to the document/date - saved much research time! It is to be noted that in that document, the restructuring was approved by the TSX Venture (first paragraph). Guess perhaps it would be difficult to prove wrongdoing down the line. Then again, lots needs to happen before even thinking about this.
Looney - If you read the document of the restructuring, it's not so clear who owns the patents. (see below). For some reason, I seem to recall reading somewhere that patents remained the property of Global, but I could be wrong.
Buyifisell - Thanks for sharing this action and the response you received. Guess the absolute truth how it all went down will remain in the secrets of the gods!?... But the good thing is that Medical finally moved into what we all feel is a better direction. Re. Denver house, I too was one of those thinking there was something very wrong going on. I also pointed out the listing of the property which stated various renovations which would have been completely unnecessary for the purposes of the business (new dock?). Some outrageous expenses were also reported and felt disguised behind the wording/descriptions used at the time. Will be interesting to know what will become of the Denver house as well and how they will decide to go about where to be based out of, etc.
The restructuring PR also seemed to indicate a third entity (CVRM) ...a bit confused between CVR Medical, CVR Global and CVRM!? Not so clear why they would have created a new corporation - though it does specify it is owned by CVR Medical.
Lastly, I don't know what the last sentence of the restructuring PR entails with regards to further development of the CSS vs Global and financing by CVR Medical/CVRM? Would Global still need to be involved in what is to come?
Perhaps it will be interesting to ask for clarifications on many of those issues from the new management down the line - hoping that they will be more transparent than the previous. Maybe when the time comes we can all throw in any question we might have to make one concerted effort to put it all together in one complete exhaustive request.
But for now, very much looking forward to future announcements the in weeks/months ahead!
Pursuant to the Restructuring, CVR Medical is acquiring CVR Global's 50% interest in the companies' joint venture focused onthe commercialization of the Carotid Stenotic Scan (CSS) and the joint venture is being terminated in favor of the creation of anew Delaware corporation wholly-owned by CVR Medical, CVRM, which will license from CVR Global and CVR Medical allnecessary patents and technology in respect of the CSS Device. Going forward the CSS Device will be developed andmanufactured under the terms of a CSS Commercialization Agreement entered into between CVRM, and CVR Global pursuantto which CVR Global has been retained as the exclusive developer and manufacturer of the CSS with funding to be provided byCVRM.