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True, but SAGA owns a chunk of it now too.
Time will tell, but it would be great for the new ENZC board to come forward and answer questions. Like ethically and responsibly.
Also not saying you are wrong on the claims they made. I’m as mad as anyone here this played out the way it did. Just being realistic that it’s very hard to prove and hold them accountable for. A lifelong lawyer, I’m sure Charles has his tracks covered or this was technically all legal through various loopholes they used in the fine print.
Good theory, but Harry developed Clone3/7, Chandra just used the AI mapping on it. More likely, they can compete with ENZC using the same stuff, for signing over the shares, but he'd only do that, if he got a piece of it, or he's senile.
Harry’s work is ITV / IPF, neither of which were stolen, they’re still under his control with ENZC / SAGA (under VIRO). PR just told us as much.
There are a lot of moving parts that needs resolution.
The shareholders of ENZC owns it all.
It will all come back to us.
Whether it will reap us financial benefits is unknown.
It was very clear on their public website, they claimed ENZC ownership of the patents and work product, both Clone3 and Clone7 were specifically named as ENZC products, not a licensing agreement or a lease from Charles.
If Harry allowed something stupid, like, 'as long as Charles was a major shareholder, they could advertise Clone3 and Clone7 as ENZC's own products, but if Charles signed over his shares back to the company, he could leave with all of the IP and BGEN would be an empty shell now for certain. I just can't believe even this group would be that stupid.
And on the Emerging Business Video Conference, Charles himself said ENZC owned the IP's and exclusive Patent rights. He was bragging that way directly to potential investors.
Something is criminal here, can't tell if it was criminal stupidity, or CC and Chandra's exit. Maybe ENZC has it, but it's not illegal for CC and Chandra to compete with the same stuff. They've got to come forward, answer to this, and explain the 'how' it all happened. Hard to believe, Harry, 80 or not, would sit back and see his work stolen away. Chandra did not develop Clone3/7.
Exactly. Things are starting to make sense now.
Looks like Valuator is on the right track to fill in the missing pieces. The preferred A control shares were likely turned over to Harry in exchange for letting Charles and Chandra take their tech and walk. Everything is pointing to this after what Valuator confirmed with the change in preferred A controlling shares. Why else would Charles and Chandra just hand over their controlling ENZC shares and subsequently allow Harry to take over the company with a board vote (with his now controlling block of preferred A shares) for change of control? It’s starting to add up now.
Good analysis. It appears that all parties including Harry agreed to let Charles and Chandra leaving BGEN with the the goodies Clone 3, clone 7 and the AI platform. Harry agreed (?) to this because he got ENZC company for himself by virtue of getting more preferred A shares given to him by others. By doing so, he is letting Charles and Chandra ran off with the Clone 3, Clone 7 and the AI platform.
The goodies legally belong to ENZC and shareholders and not theirs to divide up and taken away
Interesting. Fits right in with my speculation that Charles and Chandra decided to get their assets out of this whole mess altogether. They hand over their controlling shares to Harry in agreement to let them walk with their side of the tech and Harry takes over full control of ENZC. They vote the new board in and then amend the SAGA deal to reflect this. BGEN now has no value, so it’s not sold to SAGA as part of the deal anymore and goes back to ENZC as an empty shell). And bingo, here we are.
Yes, I was only speaking as far as the press release statements.
Going after them for the Twitter stuff will be very difficult. Chandra never came out and promised anything, it was always dangling carrots with hashtags and vague hints at things. I’m not aware of anything Charles ever said that was outside the press releases besides that spring 2021 emerging growth conference interview. And he just laid out the timeline that they expected at the time to complete certain objectives. Very hard to prove they defrauded in any of that.
All may be true, and I'm not trying to cling to false hope, but there's no proof yet BGEN is an empty shell. ENZC having it back, may have no listed assets. There may be a fight over the IPs, not including a lot of detail is a hard thing to predict, a lot of possible reasons why.
They need to answer up on all of these questions. That filing only covers topical basics at best.
GLTA
IMO, Harry got control of ENZC by virtue of the adjustments in the Series A Preferred stock when they negotiated the BCA with SAGA. You can see this by looking at the BCA and comparing stock ownership disclosures in the 2023 3Q and the 2023 Annual Report which includes the 4Q.
IMO, the relinquishment of control of ENZC to Harry had to be by agreement among them because the adjustment in the Series A structure was a part of the 9 million SAGA shares (ie, 20% off the top of the 45 million shares for the subs) the 4 principals got in the SAGA deal. Look at the numbers. They each gave 11.7 million Series A's in exchange for 2.25 million SAGA shares. That left Harry's Trust with 7.2 million Series A's and the Cotropia's and Chandra with zero Series A's, leaving Harry's Trust (and this Mr. Paul) as the only owners of Series A Preferred and, thus, in control of ENZC. Prior to this agreement, the Cotropia's and Chandra controlled ENZC with 35.1 million to Harry's Trust's 18.9 million Series A Preferred. (When and how Paul got the Series A's is unknown...must have come from Harry or his Trust somehow, but they aren't disclosed on the Schedule on p. 25 of the Annual Report.) JMHO.
Another indicator of cooperation IMO is that Chandra did not have an equal number of Series A's or Series B's with the Cotropia's, but he got an equal number of SAGA shares as CC, JC and Harry...2.25 million. So, it looks like CC and JC gave him some of their shares (both Series A's and B's) to make his share totals equal to theirs. So, CC, JC and Chandra exchanged all of their Series A's (11.7 each, totaling 35.1 million shares) and Harry's Trust put up the same number of Series A's (11.7 million), leaving his Trust with the remaining 7.2 million. JMHO.
I also thought it would be just a matter of time after the closure with SAGA that CC, JC and Chandra would resign from ENZC and focus on BGEN, leaving Harry in control of ENZC. So, I'm not surprised about their leaving ENZC. The filings say the Cotropia's and Chandra were "removed" as officers and directors of ENZC on March 25, which is 6 days after the 3/19 special meeting and about 30 days before these filings. (Why the 30 day delay to report the Cotropia's and Chandra are out?) That's a harsh way to describe their exit from ENZC but was it for cause or camouflage for what was agreed anyway? JMHO.
They've created such a speculative mess out of everything that they'll be able to likely wash shares back and forth forever, too many people still believe that enzc has the cures, that investors will benefit from anything enzc allegedy has (even though nothing has ever happened to bring anything to market). Quite the amazing scam it has all become, otc ticker of hopes and dreams. Even if their clone3/7 ever did anything (not likely), no way enzc investors would benefit. SAGA shares have no value, even if given out somehow, management market dumps everything they can and they disappear, enzc bagholders will be confused, as they always are these days. if you trade this ticker, enjoy the coming days, should do well with all the confusion/volatility, but in the end, it ends in trips where it belongs, and Harry runs away rich too
Dyno, safe harbor only protects them from predictive statements in PR's, not public statements spoken, put on public websites as alleged facts, or social media posts and bragging. I just read about a major biopharma that got nailed for a couple million $$ in fines just for claiming loosely, a benefit of their drug that had never been tested for in the case made on their website pages. Safe Harbor only covers, legitimately, statements made about estimated values and timetables, or predictions in product performance and company schedules.
You go out on public speaking like Charles and Chandra did, social media, and your own corporate website, you just became game for every lawyer with an itch.:
Problem is, PINK's are a mere annoyance, not a major rash. It would take a lot of complaints to get an attorney interested in the case. that could be done. (And I still have seen no proof that Charles or Chandra own that IP outright.) I suspect they took samples and copies of all of it, because they fear no retaliation over some side-employment agreement none of us know about.
That, or as a company, ENZC was the biggest fool ever and did not assign protection over their work product. Hard to believe Harry would have ever accepted that.
GLTA
What does SAGA get out of the mess
Wouldn’t call it running away. I’d call it a smart, strategic move by Charles with Chandra following suit, to get the hell away from this shady circus sideshow that is Harry, Enzc and SAGA. They knew how bad this SAGA mess was as well as the constant problems bc of Harry during the time at ENZC, so they did the smart thing and got their valuable tech away from all this mess.
The shit show continues. Two crooks take a chunk with them. Remember NDAs. It was all BS from two crooks!
Charles and Chandra are no longer officers of BGEN nor of ENZC according to recent ENZC PRs
They already founded their own companies with the goodies they took from ENZC
Several questions. When was the first deal finalized and on that date. The owners of record receive compensation for the sale of assets. So if they sold items to SAGA back in September. Then the owners of record back in September should be issues shares of SAGA or compensation for lost assets. Even if you sold your ENZC shares. If you were the owner of record on the transaction date. You should receive compensation in shares or monies. This should be interesting ho much litigation springs up from this latest move.
I don’t agree with this.
Charles and Chandra ran away with the stolen goodies Clone 3, clone 7 and AI platform
I can guarantee you Charles got Clone 3/7 whatever it is out and Chandra followed. The safe harbor statements protect them from anything stated in a PR at the time it’s issued. Things change. Just because they were hopeful of something in a year or two old PR and stated specific things at the time, doesn’t mean when things don’t pan out or go south that they are liable after the fact for defrauding. You’d have to prove purposeful intent to defraud, which is basically impossible. Every PR has those safe harbor statements at the end to protect the company should things not go as planned at the time of the PR.
Just from the recent PR:
“Safe Harbor Statement: This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Enzolytics, Inc. from time to time in its periodic reports filed with the SEC.
While Enzolytics, Inc. believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Enzolytics to identify acquisition targets and formulate a business strategy for implementation. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate.
Such forward-looking statements are based on current expectations. They involve inherent risks and uncertainties, including factors that could delay, divert or change any of the statements made, and cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. These forward-looking statements are made as of the date of this press release.
Those are your educated guesses, as were mine, nothing there was 'for sure'. I never saw anything about a project cancellation, just a delay.
All that being said, you could be exactly right, but they can't list true assets until a monetary value is assigned, and research product is not that. They could estimate. Getting a true FINRA motion ready, I would not be listing BGEN assets either, the ink isn't even fully dry on this.
I hope your wrong, admit you may be right, but we're back to wait-n-see again, and that is worth it, just to see what gives over the next 60 days. Nothing good, I'm out, if something pushes truly up, I'll have new evaluations to do.
GLTA
For once Archilles, we are in full agreement. 100% correct.
Charles did the smart thing after all. Some of us questioned for months why he was still allowing the SAGA deal to go through with all their major pending issues, putting their Clone 3 and other assets at risk. And reputations at risk with SAGA being shady, delisted and the lawsuit.
Going to speculate that Charles wanted this thing nixed and Harry refused to void the ENZC / SAGA deal and that’s the final straw that led to the falling out and change of control with Charles and Chandra both leaving to take their tech elsewhere. Makes perfect sense with how today’s PR was worded. Charles and Chandra left, taking the tech out of BGEN, leading to the change of control in ENZC and then this new amended SAGA deal without BGEN being involved. Why was BGEN not involved and the deal was cut from $450 approx in half? Bc there’s no assets left in BGEN clearly so it was not worth anything to be still part of the deal. I would bet anything this is how it played out. Just put two and two together from what we know without any bias and it makes perfect sense.
Charles did the smart thing to get his assets out of this and Chandra was smart to follow.
It sounded like BGEN was returned to ENZC as an an empty shell because Charles and Chandra were officially gone according to the latest ENZC PR. Charles and Chandra left ENZC and took the Clone 3 , clone 7 and the AI platform with them, respectively. Charles and Chandra opened up their new companies which have nothing to do with BGEN nor EnZC any more
SAGA is still delisted and worthless to ENZC shareholders in terms of dividend shares.
Charles and Chandra ran away with the stolen goodies Clone 3, clone 7 and AI platform with them to found new companies
More reasons and incentives for ENZC shareholders to go after them
Clone7 would have been even more money.
Don't rush to judgement though, half of me suspects you are correct, assets are gone, but if that IS the case, then ENZC is guilty of defrauding the customers posting PR's and website statements, not to mention social media claims, that they owned Clone3, Clone7, ITV-1, the AI, all of it.
The website was back up yesterday, and I reread all of it. Might still be up now.
The agreement with SAGA was BGEN plus assets, the IP, etc... as under SAGA ownership, that being the case, CC and Chandra can't run off with anything, except some expertise in the AI design and troubleshooting.
Who really owns it is the legal question. Catropia's name on the patent application does not mean it's not owned by BGEN-now-ENZC.
This has to get clarified with hard evidence, fast. If they put out any public forum or Q&A to the shareholders, I'll make it a life mission to be there and grab-the-mike, so to speak. Maybe I can get Sharabura to grant the interview that Chandra canceled out on. His incentive would be, to clear the air, once and for all.
Yes, what they don't say is key, but it may not be that the goods are gone. This is where Achilles makes his best point. Either they still own those assets, or they are at risk of a major shareholder defrauding scheme, that safe-harbor waivers don't protect them from. Either they own it, or they've hung themselves badly. SAGA too.
$ENZC NEWS OUT TODAY 4/26, includes SAGA, BGEN and VIRO . Remember I post the links to data, NO IMO's
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$ENZC News out today with SAGA. Definition of Novation "Novation refers to the process of substituting an existing contract with a replacement contract, where the contracting parties reach a consensus. One of the contracting parties in the original contract is replaced by an entirely new party that assumes the rights and obligations of the original party."
---
https://finance.yahoo.com/news/sagaliam-acquisition-corp-announces-novation-120000626.html?guce_referrer=aHR0cHM6Ly90LmNvLw&guce_referrer_sig=AQAAADFHcsh9wLllAx0AG-c48DZwQHRN7qYPPX7TEsIpag8GDFxMndrqqQ-yDM5PZxQgQpQC_NTZdsKbc3G_LwbrMS_4MXrF0k_P48KZpJONi22bF2yia0IXetmHu-GKEZdsz2bCeep19vBXh13wpZ0UO5aKjDvolYvWrZlTfjGLCymO&guccounter=2
There was no mention of any assets under BGEN. Don’t you think if there actually were those major assets back under ENZC, through BGEN, it would have been mentioned in the PR? It wasn’t mentioned bc they are gone with Charles and Chandra.
Put two and two together ffs. The filings just released show Charles and Chandra both officially gone. They even issued a supplemental change of control filing that verifies this fact. And Harry with full control with the preferred A voting shares. Harry is now fully in control of ENZC. Charles and Chandra and their assets officially out. Read the PR as well. All progress under VIRO is basically back to square one. Africa project was cancelled. We already knew that long ago. Not sure why that’s still a question.
Great conjecture and educated speculation too, from some smart folks. Yes, plenty of bitchin', but a lot of that was WELL DESERVED. Their messy corp board shakeup is hard evidence of that, no matter the outcome.
Wow, BGEN assets back to ENZC ?? May be the turnaround everyone should hope for, but I'd love to see corroborating evidence, not just a PR on it.
Can we determine, for certain, Clone3, Clone7 and the AI under Enzc is all back? And did they have a successful African testing result on IPV-1? Sounds like confidence in the least of the ENZC assets there under VIRO.
More must come. Might explain today's rise in pps.
Per the new otcmarkets filing, Chandra refused his position on April 12th. That’s the same day the press release was issued stating he had not yet accepted his new position within ENZC. So looks like he read that PR on the 12th and immediately notified them he was refusing it.
The filing also shows that Charles is out from ENZC.
Looks for sure like there was a major falling out and Charles and Chandra took their assets elsewhere. Harry is now in full control of ENZC as the filing clarifies that the Z trust holds the preferred A voting shares.
Harry is in full control with preferred voting shares. This was part of the filing just posted on otcmarkets. See below.
“Disclosure of Change in Control and Other Material Events:
1. A description of event(s) and relevant date(s) resulting in the Change in Control.1
There was a special meeting of the shareholders held on March 19, 2024 at which a new board was elected, resulting in a change of control of the company.
2. The name(s) of person(s) who acquired control and person(s) from whom control was assumed. For corporations or other business entities, please provide the name(s) of person(s) beneficially owning or controlling such corporations or entities.2
Harry Zhabilov, Dr. Lachezar Ivanov and Dr. Gaurav Chandra were elected as the new board of directors. Charles Cotropia was not reelected to the Board. Harry Zhabilov and Dr. Ivanov accepted their appointments. On April 12, 2024, Dr. Chandra refused his position. The board is Harry Zhabilov and Dr. Lachezar Ivanov.
3. The name(s) of person(s) that participated in, assisted in, organized, or brokered the transaction between the purchaser and seller, resulting in the Change in Control (if applicable).
The Series A Preferred Shares have voting control of the entity. That has not changed. Those Series A holders are Felizian Paul and Zhabilov Trust (control person Diana Zhabilov). All Series A voted were present and voted in favor of the change in control.”
They just clarified a lot by what they didn’t say. You can tell by now that when these guys put out a PR but specifically don’t mention something, it’s bc it’s bad.
The deals for half, so the SAGA shares that will be handed out for the dividend after all will now be half what they were (bad enough before at 450 mil) and that are now worthless because it isn’t even tradeable.
The PR is glaring it what it didn’t say, that BGEN came back but with no mention of any assets. That’s bc they are gone. Charles and Chandra are 100% gone, removed per the ENZC filings posted yesterday by Timing and took their assets from BGEN with them. If anything of value was still under BGEN, they 100% would have just mentioned it in this sad attempt at a pump PR. The fact they left it vague about what was coming back under BGEN tells that much.
And they verified all progress and agreements are back to square one with what is under VIRO. Welcome to 2020 all over again, without Clone 3.
4 years of nonsense bitching, lies and complaining about ENZC. And yet ENZC and management continues to try make things right…
Just my initial thoughts on this new deal. They might be a bit rambling.
1. Viro goes to saga by itself for 29million shares(assuming $10 each value). If so, how much of those goes to commons?
2. Bgen goes back to ENZC. Does this include any of the IP? Will team CCC come back to finish their projects?
3. Does Harry still have the control block shares in ENZC? Was CCC even involved in this updated deal with SAGA?
4. If they are updating the deal, doesn't that imply the original BCA hasn't been completed?
5. Zero mention of any ITV1 trials. What the hell happened to those?
From the news: "A novation is an agreement made between two contracting parties to allow for the substitution of a new party for an existing one."
I LIKE THE WHOLE DEAL AL LOT BETTER!!
Well...
This clears up absolutely nothing.
Bgen is no longer part of the BCA?
I have no idea what is going on.
https://finance.yahoo.com/news/sagaliam-acquisition-corp-announces-novation-120000626.html
I got rid of the constant harassment by clicking on the button to ignore D***89.
That’s a new one. Calling a post misleading bc he linked the actual company otc filings lmao. Unreal.
Yep. That's what I'm trying to do.
Thanks for posting a link. So helpful. Doesn’t prove a damn thing since current management is dishonest. Let’s dig deeper and not mislead…
And… why do you care…
Wow. Where are the analytics! You seriously believe this filing is accurate and honest? Sheesh
It's funny that James Zimbler is not mentioned in the annual report. I know he is part of the lawsuits. Is he no longer part of Enzolytics, Inc.? Did the new CEO finally fix that glitch with payroll and get the problem resolved?
Why are you here or will you be one of the ones selling ? GLTA
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Independent Valuation Report Pre Clinical Studies
Investments
___________________________________________________________________________________
Press Release July 20-2021
Enzolytics Announces the Signing of a Letter of Intent with Creative Biolabs, Inc.
for Licensing and Commercialization of anti-HTLV-1 Monoclonal Antibodies
https://www.creative-biolabs.com/
https://finance.yahoo.com/news/enzolytics-announces-signing-letter-intent-113000339.htm
________________________________________
Press release July 21-2021
Enzolytics and Lonza Bioscience Combine Technologies to Fast-track Development and
Production of Anti-HIV and Anti-SARS-CoV-2 Monoclonal Antibodies produced by Enzolytics
https://www.lonza.com/
https://www.bloomberg.com/press-releases/2021-07-21/enzolytics-and-lonza-bioscience-combine-technologies-to-fast-track-development-and-production-of-anti-hiv-and-anti-sar
_________________________________________
July 22 INTERVIEW
with
James Hicks, Charles Cotropia and Gurav Chandra
http://www.youtube.com/watch?v=mdljO9VLgj0
______________________________________________________________
COLLEGE STATION, TX August 25, 2021
Important Excerpt from this news progress update.
>>>>>><<<<<<
"The monoclonal antibodies being produced by Enzolytics against the CoronaVirus target 19 conserved immutable sites on the virus, sites which the Company has now confirmed are conserved sites not only on the initial virus strains but also existing in the Delta and Lambda variants, as well as in the Alpha, Beta and Gamma variants."
Enzolytics Inc. and Samsung Biologics Announce
Development and Manufacturing Agreement for Anti-
HIV and Anti-SARS-CoV-2
Important Excerpt from this news progress update.
>>>>>><<<<<<
"Samsung Biologics (KRX: 207940. K.S.), a leading contract development and manufacturing organization and Enzolytics (ENZC), a drug development company committed to commercializing multiple proprietary therapeutics to treat debilitating infectious diseases, announced the signing of a strategic CDMO partnership agreement."_______
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