TELESTA THERAPEUTICS INC T.TST

Timing of Press Release

[RetailRube]

So when would Bioniche issue a news release announcing the sale of Animal Health Business if they had to go through the following steps to get a deal done?

1. Select and notify the winning bidder among the companies participating in the auction.
2. Write the detailed buy/sell legal agreement.
3. Get Canada Revenue Agency agreement in advance of deal execution to any Section 85 or Section 88 rollovers required to transfer the AH business into a separate entity so the non-capital loss carryforwards for tax purposes could be preserved and passed on to the buyer.
4. Design a method for returning capital to shareholders per the 2013-Sept-11 settlement agreement.  It is to be a dividend or share buy-back or some combination of those?  Get CRA pre-approval if required.
5. Write a prospectus to describe the deal and the return of capital, so they can seek shareholder approval at a special meeting.
6. Inform the losing bidders.
7. Inform Palladin/Endo and Royalty Partners as collateral holders.
8. Pay the "Make-Whole Payment" to Royalty Partners specified in the 2% royalty agreement upon sale of Animal Health Business.
9. Inform the employees and try to prevent those who will not be retained by the new business from quitting before shareholders ratify the deal 60 days later.  Just so you can keep the business running in the meantime.
10. Hold the shareholder meeting to actually approve the deal 30-60 days after issuing the prospectus.
11. Setup new corporate entities to hold the assets to be sold, then transfer the assets to the new entities, give the shareholders new shares in exchange for old shares, etc etc to give effect to the deal.
12. Pay off the loan to Palladin/Endo.
13. Pay the return of capital (dividend and/or share buyback)
14. Pay Evercore their success fee.

So, when does Bioniche issue the press release that we are all waiting for?  Hurry up, we have a limited attention span.  Maybe announce it in 144 characters so we don't have to read too much.

[schemehatcher]

You're a class act "Rube" You've never have posted a list of "the questions you'll answer" I thought you were going to discuss the timing of the news releases that have magically assisted us to a dilution of close to 70 MILLION shares at absolute laughable, ridiculous and disgustingly GREEDY levels. 1. The timing of the Key Director 475K sell at the start of

[beechguy]

Scheme hatcher, I believe rube is suggesting an ah deal may have a lot of moving parts and about to be consummated you imbicile! Meaning one is coming shortly. He is actually the only one on this board suggesting we are getting a substantial dividend. What the F are you saying??? Forget the inuendos and accusation and tell us what you think is happening.  Stop accusing everyone of being

[ragingbull1327]

Then why set three overly-optimistic target dates that are impossible to hit, and then fail miserably.   It's like they spouted out random dates in the near future to keep the shareholders "happy".  I'll say it again....."They are who we thought they were."