GREY:BIOAF - Post by User
Comment by
OttawaPeteron Feb 01, 2023 5:29pm
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Post# 35260814
RE:RE:RE:RE:RE:RE:Jannsen Biotech extends its partnership with BTI on xB3!!
RE:RE:RE:RE:RE:RE:Jannsen Biotech extends its partnership with BTI on xB3!!
Boomskid wrote: I suspect, OttawaPeter, or at least it wouldn't surprise me, that some deals are still available for closing and/or extending.
My guess is that for many months Bioasis, Midatech, Ladenburg Thalmann and other players demanded a standstill of some sort. That could mean that Bioasis could not close anything during that time because it would have changed Bioasis's market cap and potential commercial value. That would have changed valuations as defined in the "Arrangement" and it very well could have changed some private plans.
Also, as the Information Circular and Evens & Evans discussed, Bioasis management may have had conflicts of interest such that they had no reason to advance or even promote Bioasis and its development projects. I've been posting my worries about that for over a year. Where did xB3 go? What was the real reason for acquiring Cresence?
If any of this is so, then there may be deals just waiting to get done, and others waiting to be extended.
What was Ellipses, anyway? It sure looked real in the corporate presentation that got loose.
jd
The foundation of a board member’s service is their fiduciary duty to shareholders--
--fiduciary duty of care
Applies to the way the board makes decisions that affect the future of the business. The board has the duty to fully investigate all possible decisions & how they may impact the business. It is necessary that each board member takes each issue seriously & adequately considers all options.
--fiduciary duty of loyalty
Directors & officers are to act impartially & place the interests of the corporation first --not allowing their decisions to be tainted by self-interest or self-dealing. Board members may never allow any outside interests or personal affiliations or allegiances to interfere with their responsibility TO SHAREHOLDERS. Board members must refrain from personal or professional dealings that put their own self-interest or that of another person or business above the interest of the company.
Breaches of this include--
* Gaining secret profit belonging to the corporation
* Competing with the corporation
* Seizing corporate opportunity
* Self-dealing with the corporation
--fiduciary duty of good faith
Insists that after board members have explored all options for a particular business decision, they must make the one that they believe best serves the interests of SHAREHOLDERS.
Violations of this may include an intentional derelict in the usual duties of a director or officer, intentionally acting for a purpose other than the benefit of the CORPORATION & SHAREHOLDERS, or intentionally violating the law.