Viropro, Inc. (VPRO)

[alias7]

This is fantastic find and documents one of my major complaints. In April 2011 when Viropro had share price .04 Datar and Gingras gave SH 525 million shares for Alpha Biologics and claimed Alpha was values at 21 million Dollars. 10 million rivets is 2.9 million dollars which is asking price. For 525 million shares of Viropro Datar and Gingras took on millions of Dollars in liabilities that AlphaBiologics had and they gave 52% shares and total control to Malaysians. Viropro had no income and no ability to pay for upkeep and liabilities Alpha. Furthermore this deal was done against advice of accountant and without vote share holders and no vote of Board of Directors can be found on deal with SH. The SH deal made Viropro investors think share price Viropro was supported by 20 million dollar facility. Of note was there was no independent appraisal value Alpha or audit debts and liabilities of Alpha that Viropro was taking on.

I think asking price is just building. Also some equipment Alpha owned; but most equipment leased.

About all Gingras and Datar got was liabilities and lease and gave away 52% shares.

10/30/13 date seems date trying to foreclose and sell Alpha. CT went to Penang court to try stop foreclosure. Legal fees to defend Viropro from foreclosure was paid by Vivo which wanted to do deal with Viropro; but blocked by Peake and Sorensen.

When Vivo wanted to do deal they did their own independent audit @ Sept 2013 and discovered AlphaBiologics worth about 5 million dollars. It was huge shock to discover Datar and Gingras paid 21 million in shares for something worth 5 million minus millions in liabilities.