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agreed, the fact they filed is positive
Im so confused
Over a week now that the trial was cancelled. Probably wanting to make sure Camac settlement is signed, sealed and delivered. Of course, we don’t know any thing about any of it.. No terms of sale, or “disposal” of assets, no terms of settlement, if there is one.
Set it and forget it right?
‘Round we go in the Ronco Rotisserie…
We are turkeys waiting for the timer to pop up..
When it does, we’ll find out if our goose is cooked.
LOL
SMFH
Would be nice if the patient nodded its head every once in a while, so that we know it is still alive.
Still alive at least
At least they filed the quarter on time… nothing in subsequent events.
https://www.otcmarkets.com/otcapi/company/financial-report/342867/content
That’s positive news and they only issue press releases for really bad negative things
For all of us. It’s been 4 days since the trial was cancelled. Why the heck isn’t management updating the shareholders?
Back with what is the big question. For me anyway.
I hope we hear something official in terms of a filing it is big news if it’s no longer an issue
Thanks for that info ! WUHN is back soon
Mask up and strap in !!
A little more definition…
Vacating Hearings or Trials
The Court appreciates being notified in advance of settlements that may affect the Court’s preparation for a hearing or trial. When a settlement is reached and the parties have agreed that the hearing or trial need not go forward, the parties shall promptly call the Court’s Chambers Staff to advise of such development. However, before the Court will vacate a hearing, one of the following must occur:
1. The parties must file a motion to vacate the hearing or trial no later than 12:00 p.m. on the day prior to the scheduled hearing or trial. If the motion to vacate is predicated upon the parties’ having reached an agreement or stipulation, then the motion should include not only a request to vacate, but also a request to approve the stipulation or agreement. Such motions must also be accompanied by an appropriate proposed order pursuant to L.B.R. 9013-1(a)(1)(C).
2. If the parties do not file a motion to vacate in advance of the hearing or trial, the hearing or trial may be vacated upon the appearance, in person or via telephone, by both of the parties, at which time one party shall read the pertinent portions of the agreement into the record.
So by this definition, there is still the possibility of a settlement..
The trial record has not been updated to include settlement terms. We’ll see…
Lol
It was not fun at all. My biggest area of concern were the criminals trying to steal shares of the company. I wish someone could confirm that the judges threw the suit out for lack of merit. From what I’ve read today, byvacating the trial , that is essentially what they did. I’m not a lawyer.
Clarity can’t come fast enough for me.
If that is indeed what happened yesterday, then that opens up a wide array of possibilities. How will Mr Robinson make his shareholders whole again? How quickly will he move to do it?
IMO, a good start would be to move the largest and most promising asset of M2BIO back “home”.
Luck to us.
Wasn't a fun few months, but never doubted Jeff....
He owns most of the shares here so we know his history......one of the founders of BHVN is not to shabby.......
Added to my collection WUHN $
You're welcome
All I ever do is express my beliefs . I don't care who else believes it. I've always believed in Jeff for many reasons and still do. I had an idea about what he was doing and it appears that was correct. Successful people just find a way. Looks like he's found a way. IMO Jeff would never do the wrong thing. Looks like he's done the right thing. He also endured much hardship over the last four years.
I think our time has come.
WUHN
Thanks for the reassurance.
Appreciate it.
Again
Imagine that
Seems like old Jeff knew what he was doing all along
Not his first rodeo by any means
Well done
Time to move forward
And IMO there's a lot already moving forward
So grateful
WUHN
Again
Imagine that
Jeff, well done
WUHN
With the trial vacated, management can finally move forward with the share cancellation and the WUHN shell is squeaky clean.
Imagine that
In Jeff I trust
WUHN
Should hear something soon!!
Great News!!
It is good news.
The term "vacated" means that the Court on appeal reviewed the lower court's decision, found error, and overturned it. It means a reviewing court, usually a court of appeal, has determined that a trial court judgement should be vacated, or in other words, eliminated.
I am leaning more towards the judges listened to the points of law being argued
and “vacated” the trial because the Camac suit had no merit.
Would love to hear other opinions.
If it was vacated because it had no merit, its a shame that the current shareholders had to be “disposed” of along with the assets out of fear.
I haven’t sold any stock and have added some.
I would expect a press release immediately as this is certainly “big” news.
Thanks for sharing Lotta......
Good news either way!
The docket says that the matter was heard and trial canceled because it was “vacated”
I’m not a lawyer but this could also mean that the judge through out the case on its merit and we won.
JMO
Trial is cancelled. It appears that there may be a settlement.
08/30/2022
Jury Trial; Judicial Officer: Denton, Mark R.; Hearing Time: 9:00 AM; Cancel Reason: Vacated
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08/30/2022
Jury Trial; Judicial Officer: Denton, Mark R.; Hearing Time: 9:00 AM
08/22/2022
Calendar Call; Judicial Officer: Denton, Mark R.; Hearing Time: 2:00 PM; Cancel Reason: Vacated
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08/22/2022
Calendar Call; Judicial Officer: Denton, Mark R.; Hearing Time: 2:00 PM
08/08/2022
Pre Trial Conference; Judicial Officer: Denton, Mark R.; Hearing Time: 02:40 PM; Result: Matter Heard; Parties Present: Plaintiff; Attorney: Clark, Andrew Scott
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08/08/2022
Pre Trial Conference; Judicial Officer: Denton, Mark R.; Hearing Time: 02:40 PM
Now we have to wait to hear from Management.
Loving my adds here
.12 and then .30 coming sooner than people think
Looking better and better here
I already averaged down. Now I just wait
I agree. We have no other option at this time but to average down and wait.
Up 100% on my many many .03 adds and soon will be green overall. Camac screwed us for a short time but Jeff owns most of the shares here and will come back and make it huge at some point, and once the news hits we will likely be much higher than here
Like what? We sold our used toilet paper for a profit?
There is nothing left to the company, and Jeff left to the other one.
We could use some of it.
Good news coming?
Lotta:
Maybe, if WUHN wins the case, them MRES says after completing DD we decided not to move ahead. Then everything remains as was/as is. ????????
Yes, we don’t know if there is debt other than lawyers fees.
I’m not a lawyer, but it seems likely that if they win, they may have a case like one you suggest. If they do not, then this whole situation was unnecessary. What then? How are shareholders made whole? I’m over the anger. Now I’d like some answers.
Don't know if there is debt, as in the PR they said they were assuming all liabilities, in addition to whatever cash they paid.
I still can't see how he will not claim that this whole transaction was to defraud him and leave an empty shell. If he wins, I am sure the Court will let his claim follow the assets.
But then again, what do I know.
If Camac settles, then we will be in a far better place than we are now , for sure. What they were demanding was $3m or 30 m shares. Now that the company is an empty shell, with debt, their demands seem wildly unrealistic. We have no idea what the assets of the company were sold for. We have no idea how much cash is left to offer in settlement. We have no idea if Camac even wants to waste further money in pursuit, because there is nothing left.I looked back and the case was originally brought against Ramy Kamaneh back in 2020. Wuhan General group was added later. We will soon find out.
Will this get us out? Why couldn’t he have done this without destroying shareholder value in Wuhn?
Pre trial conference is scheduled for August 8. W’ell find out what the settlement status is from the attorneys. The judge may order an additional settlement conference in light of current events. We’ll see.
Good luck
No one knows but the inner circle.
It’s secret.
Mr. Robinson told us that it was just enough to cover liabilities and debt.
There have been no updates on the trial.
It’s set to go in a couple weeks.
We’ll see what happens.
Makes no sense to sell now. I was not going to sell M2Bio.. ever.
Unfortunately, it left us behind.
Camac thinks the case has merit. So does Mr. Robinson or he would not have moved the assets out.
There is a chance we lose, and still a chance we win.
If the case is thrown out, WUHN will finally be a “clean” shell.
Mr. Robinson is the owner. He may show us some mercy yet.
So how much cash did we get, besides MRES assuming all liabilities (which I assume include the "creditors")
Interesting that in their PR today they say they are assuming all liabilities
w
MRES .0146 print - Institute of Biomedical Research Corp Announces Purchase of Biomedical and Nutraceutical Assets
6:00 AM ET 7/22/22 | Dow Jones
SEATTLE, WA, July 22, 2022 (GLOBE NEWSWIRE) -- Institute of Biomedical Research Corp. (OTC Pink: MRES), a diversified biomedical company, announces the purchase of biomedical and nutraceutical assets from Wuhan General Group (China), Inc in an all-cash transaction ("Purchase").
"This purchase is a perfect match to our business model and supports both our strategy in this sector and our direction to continue to create a path for success for our shareholders," said Kim Halvorson, Director of the Board of Institute of Biomedical Research Corp.
As part of the Purchase, the Institute of Biomedical Research Corp in an all-cash transaction will assume current liabilities related to the assets which include the following four companies ("Assets"):
M2Bio Sciences Food and Beverage Proprietary Limited has a range of nutritional food and beverage products that are stocked by more than 100 stores in South Africa. M2Bio Sciences also conducts research into sustainable products using primarily hemp and mycelium and is developing various cosmetics and complementary medicines using plant-based active ingredients.
Neurai Life Sciences Proprietary Limited focuses on research into the application of plant-based and other non-invasive therapies to treat depression, addiction, and other major afflictions of the 21st century.
Tsime Pharmaceutical and Medical Supplies (Proprietary) Limited has a license to cultivate, process, and export cannabis for medicinal, scientific and any other legal use.
MJMedtech Inc is registered in Canada and currently dormant.
"It was important to identify a dynamic group of companies that complement the mission of the Institute of Biomedical Research Corp. The management team coming across with the acquired companies has a solid history of achievement and credentials to take the Institute of Biomedical Research Corp. to success," said Kim Halvorson.
Ms. Kim Halvorson has stepped down as Chief Executive Officer and appointed Mr. Jeff Robinson as the new Chief Executive Officer, and a Director of the company. All current management and employees of Wuhan operating companies will be retained. The Company will adhere to OTC Markets and SEC guidelines for Best Practices for Disclosure and Transparency.
"We are delighted to move forward with our research and technology under the Institute of Biomedical Research Corp. Both companies have the same objectives of bringing innovation and products to the healthcare industry," stated Jeff Robinson.
About Institute of Biomedical Research Corporation
The Institute of Biomedical Research is a biomedically ambitious business venture whose activities extend from highly diversified scientific research and sophisticated services combining the latest science and naturally occurring compounds and extracts. The Company looks to expand its major long-term biomedical and environmental research projects, as well as development of new diagnostic technologies and innovative experimental medical treatments. The research of new therapies and biomedical products also constitutes important business activities of the Institute. The Institute is essential for the development of Montenegro within the regional and European environment. This is now with new offices in the Biotech Research Center of the Pacific Northwest, South Lake Union, Seattle Washington.
Publicly traded company (OTC Pink: MRES)
Website: https://www.globenewswire.com/Tracker?data=6zHcW6opmw9DEhoNQhbBZI46qE6K-wrnaqQhCJNajBRkZqeNSVlwWp3G5bGve5UjiTI7JUPkaXaSJTL2idFGjw== www.mrescorp.com
About Wuhan General Group, (China) Inc.
Wuhan General Group, Inc., through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids and psilocybin medical research that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx(TM), Medspresso(TM), and Liviana(TM) brands. In addition, our research and clinical trials with psilocybin are aimed at new therapies that will help patients who suffer from alcohol addiction, mental illness, and cardiovascular diseases. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research, and emerging technologies.
Publicly traded company (OTC Pink: WUHN)
Visit Website: https://www.globenewswire.com/Tracker?data=7f-ZafZJ_aH5GWxAvnN2yqL5YJsrgq4IMnetdl8QeoayjqpVW49zqFPbUe_ckQqsLZqI_V3_WLsluA1xPDGWnA== https://m2bio.co
Forward-Looking Statements
Safe Harbor Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
For more information, press only:
Institute of Biomedical Research Corp.
PR CONTACT: Kim Halvorson
https://www.globenewswire.com/Tracker?data=DdnuRC8GmQEXfjVfRnw4Dq958LG7H9ob7ijvzYG2QHQZ7lXvGjz-FI8Fh0mktYKUyLab5WqiZxiUSEL_u9RgLw== info@mrescorp.com
https://www.globenewswire.com/Tracker?data=7f-ZafZJ_aH5GWxAvnN2ymUtfVgyywuYXj6LH3-PKfJF_Iev52jGnidY9B1287PfjCIo3pRsW6RqfxZK9q8W2OyoI8Vq28QFFT7Yppc1UNs= https://mrescorp.com/
Source: Institute of Biomedical Research Corp.
> Dow Jones Newswires
July 22, 2022 06:00 ET (10:00 GMT)
Back to normal volume 510 shares LOL
Nice paint down
Not that it means much anymore:
https://www.marijuanamoment.net/cory-booker-and-rand-paul-bill-would-force-dea-to-let-patients-use-psychedelics-and-marijuana/
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