BSD Med Corp. (fka PRSNQ)

[diannedawn]

I also thought the sale seemed shady!

Why do I not feel comforted by this?
"Two former directors of the Company, Dr. Gerhard W. Sennewald and Douglas P. Boyd have a financial interest in Buyer. In light of the Company’s relationship with Buyer, the Company received a fairness opinion from Houlihan Valuation Advisors that the consideration it received for the Acquired Assets is fair to the Company from a financial perspective."

This company has been such a disaster, and now they're selling off the ONLY thing they did have going for them?
To a company that former insiders have "an interest in"?

Oh...and btw...we're going to RS...

WTF!!!

From the complaint
"the decision to sell the hyperthermia line of business in a fraudulent transfer of assets to a newly
formed company in which two former directors have a financial interest"
"Plaintiff further states that after being served with the Derivative Demand, the
Company engaged in a fraudulent transaction wherein it conveyed one of its primary assets to a
related party for insufficient consideration. The conveyance of BSD’s hyperthermia assets to a
very recently formed company comprised of BSD’s former directors and officers, in
consideration for common stock lacking an established market, is detrimental to the company
and its investor base at large."

YOU ROCK PAUL!!! GO GET THEM!!!