Ok, OysterBuctouche, you have asked for some stuff. Maybe this is a come-to-jesus moment, so here goes.
I can't give it all to you and I am going to make clear that I may eventually formally and publicly accuse Bioasis of some things. I'm not making the accusations now. I am stating what a couple of those accusations might be and that I may have to make those accusations and others in more formal and public ways in the near future.
First, no matter what your call with GD was like, OB, the impression that others got from GD's roadshow calls was universally described to me the way that I described them here.
About my contracts, no, I won't make them public here. Those details and the amounts owed me will be revealed publicly only in court, and with regulators if it comes to that. My intention is to shortly pursue both if I need to do it. Otherwise, the amount would be revealed in a press release if I am paid in shares, which is my wish. Maybe you can discern the scope of the problem from the next paragraph.
I worked under contract with Bioasis for 7 years and about 5 months, a total of about 89 months. I was half-paid for 31 of those months and not paid at all for almost 19 months. Payment for the other 39 months was almost always late. Through it all, if Bioasis was ever dissatisfied with me they could have cancelled my contract. They never did that, not vocally and certainly not by the terms of the new contract I signed in early 2019, a contract that requires written notice of cancellation.
I got that contract without asking for it. It was already signed by Bioasis, not negotiated with me, take it or leave it. I eventually signed the contract. The contract stipulates that written 30-day notice of cancellation was required by either party to cancel the contract. The contract could be immediately cancelled for cause but written notice is still required. I certainly never got that written notice, and was never told verbally that my contract was cancelled.
About payment, Bioasis was behind a few months when DrDR became CEO. I asked how she wanted to handle it. My policy had been to always have a couple of invoices submitted to Bioasis. When they were paid, I submitted a couple more, no matter how many months behind Bioasis was. DrDR agreed with this practice. (There was another Bioasis person party to this discussion.) I specifically asked if she wanted all invoices submitted. She agreed with what we were doing, only a couple of invoices at a time. I have honoured that agreement to this day. That ends now. I will immediately start collection actions, by whatever means I need to use.
The history of my invoicing and payment ended like this. The invoice for April 2020 was submitted in May, 2021, and finally paid in September, 2021. The invoice for May 2020 was also submitted in May 2021 and was paid in October 2021, both paid 17 months after the month for which they were invoiced.
As I had agreed, I submitted two more invoices for June and July, 2020, shortly after the last payment I received and just before the AGM in December 2021. They were never acknowledged nor have they been paid. I cancelled my contract with Bioasis after last year's AGM. That cancellation has never been acknowledged nor formally accepted by Bioasis.
So the question is, if DrDR didn't want me around, why didn't she cancel my contract? It's right there in my contract, in black and white, in the contract that was sent to me already signed by Bioasis, that I didn't negotiate, and eventually signed after some hard thinking. Cancel by written notice. It was never done, nor hinted at in any way.
There are other discussions and incidents that I have documented that I will discuss in court if it comes to that. Let's just say that Bioasis knew the value I had as a "commentator" about the company. For a lot of the time I was the only good story they had. They didn't even take issue with my criticisms. They didn't want to cancel my contract because it would upset the shareholders. Several shareholders made it clear to DrDR, in private, that not only did they want be to remain with Bioasis, but they wanted me to have a larger role with the company.
But in the end, I believe it possible that the delayed payments were a way of keeping me around without paying me very much, and they may have thought that I would eventually just go away. And that's where you get into the fraud question. Did they keep me around using various schemes while avoiding paying me.
About the timing of my public criticisms about Bioasis, it was influenced by a number of things starting in late 2021. When it hit me that Bioasis may be defrauding me by keeping me around without telling me they weren't going to pay me, other things came to mind. I believed, then and now, that Bioasis was not disclosing things I thought they ought to disclose. At the same time, having found the concerns raised by the paper about the merits of various receptors, including LRP-1, as BBB transporters, I grew alarmed that Bioasis may really be failing and that the company seemed to be drawing inward to a defensive posture. Even the Cresence deal can be construed as a pivot, although the company, to my knowledge, has not stated that. So I became very alarmed about Bioasis late last year. And here we are a year later and no questions about anything have been answered. Yeah, it's good and right to be concerned!
I'm 72 years old. I can't go out and start a new career. I twice lost over a million dollars. I made it back the first time, but the double whammy of the 2008 financial crisis and the failure of Resverlogix in 2010 just about killed me off. Starting in 2011 I busted my butt on Bioasis because I felt that it could bring me back once and for all. I did my part. Bioasis has not done theirs, not for me and not for you.
In the hopes that Bioasis simply made a mistake with me, or couldn't pay me rather than wouldn't pay me, I'm going to make a last ditch effort to be paid. I was never an IR contractor. I was always a commentator in my public writings ABOUT Bioasis. It's part of the public record that I criticized some of the core actions and decisions of Bioasis, something that IR people would never do to the extent I have. I was never a paid shill and the record would legally support that. I was hired to write FOR Bioasis and not ABOUT it. I wrote ABOUT Bioasis completely on my own initiative. I was a functional IR contractor. I never spoke for Bioasis. I honoured my contract. Bioasis has not.
Over the past few years, several Bioasis shareholders have helped me financially. Most I have paid back, but there are a couple left that I have been unable to satisfy, and it is a source of continuous upset for me. I want to thank everybody who helped. I truly wish to repay the last of the loans. Currently, that is in Bioasis's hands, although I may have success with my new ventures, Boomskid and a renewed StoxComm.
My health suffered immensely from all of this. The anxiety caused by financial stress can be unbridled. No sleep. Comfort food, even drinking, both self-inflicted wounds but no less driven by anxiety, stress and depression. It hit me hardest last December 16th, the day of the AGM. That was the day that I really considered the possibility that Bioasis was trying to defraud me by quietly ignoring my contract.
And then there was also the LRP-1 question that I had discovered about the same time late last year. I had asked CEOs for years, many times, if there was a problem with xB3 that prevented deals from getting done. I was always assured that there was nothing wrong with xB3, either actual or perceived. But the Cresence deal (or pivot) coupled with DrDR's lack of disclosures, mistakes, known misstatements, other things that I ought not to discuss here, her treatment of me, and her disregard for our contract, combined to make me question whether Bioasis was viable and whether DrDR ought to be running the company. That is a gentle way of saying it but there is more.
So last Christmas was the worst of my life. A month later I developed a serious health issue related to lifestyle that required two surgical interventions and put me down and under daily medical care for almost three months. The whole thing with Bioasis, including the attacks on Stockhouse and the unwillingness of supporters to engage, have taken their toll on me.
I have arranged legal help to help resolve all of this, if it's needed. Bioasis has cost me not only what they contractually owe me but have made it difficult for me to pursue a living as a writer. Being upset all of the time and worried about money do not make for a mind suited for writing. And there are other losses of opportunity and issues. My options expired and were not replaced. I was told that regulations prevented Bioasis from issuing them to me, and yet others are paid with options.
But as the old saying goes, one should never attribute to malice that which one can attribute to ignorance. In the hopes that Bioasis has simply been unable to pay me, or misunderstood things, I will give them a short period to make it right. But it will be short. And my claims will be many if it comes to that.
I could use some support. I did my part.
jd
Note: Just so you all know, I am archiving all posts on this forum in case any get deleted.