CVR Medical Corp V.CVM.H

Two different plans.....

[ICT1111]

PLAN A; With the original signed Term Sheet, the restructuring group were hoping to ........ 1/ Install their experienced non-conflicted directors on a no pay basis to start with 2/ Re-negotiate the payables of medical and Global down to a level hoped to be below US$1m. 3/ Re-engage with critical suppliers such as Cannon, The Clinics and the Software engineers. 4/ Secure further loan investment (you can't do a placing when you are subject to a CTO) from top 50 Share-holders so as to provide Medical with funds to get trading again and get this device to the FDA ........ this plan had provisional approval by the TSX ........ once approved, Medical would be free to trade again and would have had an unincumbered path to market ...... it was hoped that at this point the shareprice would be C$0.50+ and the street would be encouraged ...... this would be the environment within which a placing could take place at or around C$0.50 minimising dilution.

PLAN B; The new directors apparently want to retain conflicted directors on full pay and asborb Global and all of its debts giving Global a huge tranche of shares in exchange for the IP (which, rumour has it, is not IP at all, it is in fact computer code which is not 'IPable', rather 'copyrightable' and there is doubt that Global have any rights to the software as they did not pay the engineers!!) So even if the new directors could get this past the TSX they would be going to the street with a requirement for circa US$5m of debt and US$1m required just to get this restarted ...... at what price do you suppose this would be raised 5 cents? 10 cents? Massive dilution if workable at all....... and then there is the question of the software and whether the engineers would go back to work for Peter and his fellow men when they weren't paid?

you decide which plan looks most viable