Viropro, Inc. (VPRO)

[alias7]

Gingras blunder number 3: Bepractical posted asking price for AlphaBiologics 2.9 million dollars. With the equipment worth about 5 million 2011. However due to outstanding mortgage on building and equipment Alpha was under water with no equity. Furthermore AlphaBiologics has millions in liabilities. Gingras as CFO gives SH 525 million shares for all shares Alpha. Gingras thinks Alpha separate corporation and Viropro holding company. The legal reality is Viropro is parent company and now has millions of dollars in liabilities and no equity. The significance of this will become clear in few months when AlphaBiologics creditors force Viropro into involuntary Bankrupcy. At this point Alpha has just been seized and Viropro has nothing for the 525 million shares. The other shoe is about to fall. In 2011 the Viropro shares .04 worth 21 million dollars. The Malaysians told Gingras worth 21 million. There was no independent appraisal. If they did appraisal find worth 5 million. If did audit of Alpha would find that no net value as debt greater than value.