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On the contrary, I never believe a lawyer. Or, as the great Peter Cook once remarked of an acquaintance, "He was a compete and utter lawyer".
"On 7 August 2020, Motif BioSciences, Inc. received a notice from its lender Hercules Capital Inc. ('Hercules') as to their intention to foreclose on the collateral, of intellectual property of iclaprim."
That was from the September 1st RNS and is the clearest indication I've seen regarding the ownership of the Iclaprim IP. I think it makes it clear that as of August 7th it was still owned by Motif Bio. The Sandoz/Novartis patent is for a different form of the drug.
I've read that the 'intention to foreclosure' is a necessary technicality in order to ensure that the perfected security interest (i.e. Iclaprim) is actually awarded to them by the court in the event that the debtor (Motif) is declared bankrupt. I don't think there would be any point in trying to foreclose on an asset the debtor didn't even own.
I'm not a lawyer though, so don't believe a word I say.
I don’t think for one minute this will be my best 10k put to work !! SYME might be today ? This might have another chapter as mark says , maybe get my money back maybe but this board at the helm here at so bad they make amigo fun and games look like a boardroom meeting
Iknownuffin your right you can’t win em all but I don’t think this is over yet. I feel the mtfb story may have another chapter yet .....
Mark , my one ****up here !! 10k gone boom lol can’t win them all
Yeah, I highly doubt an RTO candidate that is operating and doing well will move their CEO to the side.
Anybody on the BoD / senior managment for us right now will get a board seat but no operational role.
W don’t know all we know is the charge has been satisfied.
Does seem we are doing 2+2=4.4 which is better than last week haha
We had the uptick in the share price when companies house was updated then the suspension and the first documents seem to have been filed 13/8 so two weeks after the suspension. It would seem to me that they may have sold iclaprim or Novartis maybe are looking to spin part of their business out via rto and iclaprim is part of the deal ??? I’m pretty sure we will find out something soon as surely this is RNS worthy?
Rooblertwo. It very much seems that way!
good gosh we are all getting giddy this afternoon
From my thinking here.
1. We have sold the assets
2. Companies house got updated
3. Cash shell is now super clean for an RTO candidate
4. According to those emails we are going through readmission
If all of this is true looks like we could see a result
Rooblertwo. Timing wise yes it does tie in !
i would if it was good stuff
Yes Tp but I got it wrong but thought I was right as it all went quiet on forum for a whole day, I was not called out or deleted accused of ramping. So something is going on from the quiet of it all. Except Mark with his ongoing facts as usual,thank God.
excellent find mark.would agree with that.need to wait to see what happens but most interesting post for some time.
Does this tie into the companies house update to the loan that was updated? I’m on my mobile so can’t quite remember the full facts. I’ll also reiterate my point that an RTO candidate won’t want any assets so they might be selling all assets to make the cash shell more desirable.
You wouldn’t buy a house with half the sellers gear in it would you
are still turning *
flippin autocorrect!
Even the most sceptical among us must at least concede this gives reasons to be hopeful and proves that wheels aren’t indeed still turning with regard to iclaprim!
SOYO that’s my understanding Hercules get paid first and anything else gets returned to the business and in turn the shareholders ... ie. us!
According to the recent results we most definitely do!
According to the motif website we do and tamarack have been instructed to find a buyer. Had a purchase been completed a rns would have been issued
Great work Mark!! But do we still owe Iclaprim
Great work as usual mark
OOOh thank you Mark. That crystalline info look v interesting.