Therma Bright Inc V.THRM

RE:RE:RE:RE:💯THRM Acquires 100% Control of its COVID-19 Saliva Test💯

[Moemoney42]

Isn't it odd that no where in this press release they state what it cost them for that 50% interest..?
Hmmm... wonder why... did Torion just walk away from their investment..? Didn't they see value..? Did they get shares of Therma Bright for the deal... did they get cash..? Was the value of the transaction only $65,250 for the 50%.. if so not good...!!! A lot of unanswered questions here..!!

Moemoney42 wrote: Early Dec. the reported they were in "advanced discussions" looks like they've made no headway there..!
Now the testing is apparently moved into Feb..!! Still haven't "procured the tests"..!
Once they have finally found the test sites they will inform shareholders... LOL...
Alarm bells going off yet...????

Olteanu007 wrote:
Toronto, Ontario--(Newsfile Corp. - January 25, 2021) - Therma Bright Inc. (TSXV: THRM) ("Therma Bright" or the "Company"), a progressive medical device technology company announces that it has taken 100% control of the research and development, regulatory, manufacturing and commercialization of its saliva-based rapid antigen test. As a result, Therma Bright will retain 100% of all future revenue and profits from the sale of the saliva-based rapid antigen test. Therma Bright previously announced on November 4, 2020, that it would retain 50% of the revenue and profit from the sale of its rapid antigen test through Torion Biosciences Inc. ("Torion"). Therma Bright will no longer pursue that arrangement with Torion Biosciences Inc., with 100% of the future economic benefit now flowing directly to Therma Bright Inc. In addition, Therma Bright will create a new trademark name for its saliva-based rapid antigen test, temporarily called SCV2, until a new name is protected. Corporate Updates: Therma Bright is pleased to report that it is in advanced discussions with potential testing sites in multiple locations across Canada as well as sites in the United States and the United Kingdom. Engaging in multiple locations will assist Therma Bright to achieve regulatory approvals in different jurisdictions such as CE in Europe and FDA and Health Canada approvals for North America. Such regulatory approvals will allow for the roll out of the commercial test for multiple markets in the future. Therma Bright will now procure sufficient test kits to be used in the prospective studies to occur in the month of February. Therma Bright is also in the process of identifying component suppliers to be used in the large-scale manufacturing of the SCV2 test and is identifying contract manufacturers to manufacture and assemble the final product. Therma Bright also announces that it has negotiated debt settlements with arm's length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX Venture Exchange, the Company has agreed to settle aggregate outstanding debt of $65,250 in consideration for which it will issue an aggregate of 145,000 common shares at a deemed price of $0.45 per share. All shares issued in relation to these debt settlements are subject to a hold period expiring four months + one day after the date the shares are issued, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. Rob Fia, CEO of Therma Bright commented: "This is a big win for us and our shareholders as we maintain 100% of the sales and profits of SCV2. Since our last press release on January 18th, 2021, announcing 86% sensitivity and 100% specificity, we are pleased to have received significant interest from overseas facilities in the UK, the US and in addition to the Province of Ontario, other provinces in Canada. We will report back on the prospective study sites in the near future." ++++Read more at: https://www.newsfilecorp.com/release/72711/Therma-Bright-Acquires-100-Control-of-its-COVID19-Rapid-Saliva-Antigen-Test-and-Announces-Proposed-Name-Change-for-the-Test