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2021: The Great Reveal
2021 was the year where everything the naysayers have been saying was proven true. In April 2021, Venturis Therapeutics' long time counsel, Dentons, withdrew from representing the company. Dentons claimed in a court filing that Venturis had no ability to pay the $200,000+ it was owed, had no revenues, and no assets of value.
Here is the court filing:
DECLARATION OF BARRY F. CANNADAY IN SUPPORT OF MOTION TO WITHDRAW
I, Barry F. Cannaday, declare as follows in support of this Motion to Withdraw as an Attorney for Venturis Therapeutics, Inc. (“Venturis”) in the matter styled Daniel C. Montano and Dr. John W. Jacobs vs. Venturis Therapeutics, Inc., Case No. 2:20-cv-01410-GMN-BNW originally filed in the United States District Court for the District of Nevada, but which was closed on January 21, 2021 (the “Previously Closed Case”):
1. I am an attorney duly licensed to practice before all Courts in the State of Texas and I was admitted to practice Pro Hac Vice in the Previously Closed Case on behalf of Venturis on August 18, 2020. I have been a partner in the law firm of Dentons US, LLP since 2009.
2. Venturis initially agreed to retain Barry F. Cannaday in connection with the arbitration that was filed by Venturis against Mr. Montano and Dr. Jacobs (“Counter-Claimants”) on July 19, 2018. Following the issuance of the Arbitrator’s Final Award in that Arbitration on July 20, 2020, Counter-Claimants filed an Application for Order Confirming Arbitration Award in this Court on July 29, 2020. Barry F. Cannaday agreed to continue to represent Venturis in connection with the proceedings in this Court relating to Counter-Claimants attempts to confirm the Arbitration Award. This Court confirmed the Arbitration Award on January 25, 2021 and this case was thereafter closed on January 25, 2021.
3. On April 8, 2021 counsel for Counter-Claimants provided Barry F. Cannaday with copies of post-judgment Interrogatories and Requests for Production,. However, Barry F. Cannaday has not agreed to represent Venturis in any connection with post-judgment collection matters. Mr. Cannaday considered his representation of Venturis in this matter completed when this case was closed on January 25, 2021.
4. Further, as of March 31, 2021, Venturis owed Mr. Cannaday’s law firm, Dentons US LLP (“Dentons”), unpaid fees in excess of $200,000 for representation in this Previously Closed Case and for representation in the underlying arbitration.
5. Barry F. Cannaday performed his obligations as counsel for Venturis in the Previously Closed Case and in the underlying Arbitration in a skillful and diligent manner. However, Venturis has been rendered incapable of paying Mr. Cannaday’s law firm in accordance with the terms of its agreement.
6. Upon investigation as to Venturis ability to pay legal fees in accordance with its agreement, it has become evident that there are currently no assets or revenue streams from which payments can be made.
7. Barry F. Cannaday and Venturis have maintained a good working relationship throughout these proceedings. As such, the present Motion to Withdraw is not the result of any differences between Barry F. Cannaday and the client, but instead is the result of the inability of Venturis to meet its financial obligations to Dentons.
8. Defendant’s address is: 10455 Markison Road, Dallas, Texas 75238 and Barry F. Cannaday certifies that Venturis will be served with a copy of this Motion to Withdraw.
9. I personally visited with Jon Ross, Secretary and a Member of the Board of Directors of Venturis on Thursday, April 8, 2021 and advised him of my intention to file this notice and motion. Mr. Ross stated that Venturis had no objection to this Motion to Withdraw. I declare under penalty of perjury of the laws of the State of Nevada that the foregoing is true and correct.
Executed this 12th day of April, 2021.
/s/ Barry F. Cannaday
Barry, F. Cannaday, Esq.
DENTONS US LLP
2000 McKinney Ave
Suite 1900
Dallas, Texas 75201
Telephone: (214) 259-1855
Facsimile: (214) 259-0910
For more information:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165949650
Does anyone know if Venturis Therapeutics' attorneys, Dentons, knew that Venturis is in default when they quit on Venturis? It's hard to imagine they were not aware of this, but who knows?
For more information:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166194302
Venturis Therapeutics' legal counsel spills the beans
THE END OF VENTURIS/CVBT: The court filing by Venturis's lawyer
This declaration by Venturis Therapeutics's own lawyer, Dentons (one of the largest law firms in the country) withdrawing from representation on April 12, 2021, spills the beans on how hopeless the situation is at Venturis Therapeutics (formerly Cardiovascular Biotherapeutics, or CVBT). Dentons declared to the court under oath that Venturis has no ability to pay the $200,000+ plus Dentons is owed, and stated under penalty of perjury that Venturis Therapuetics has no assets or income streams that could repay the debt owed to Dentons. Here is Dentons' declaration in its entirety:
DECLARATION OF BARRY F. CANNADAY IN SUPPORT OF MOTION TO WITHDRAW
I, Barry F. Cannaday, declare as follows in support of this Motion to Withdraw as an Attorney for Venturis Therapeutics, Inc. (“Venturis”) in the matter styled Daniel C. Montano and Dr. John W. Jacobs vs. Venturis Therapeutics, Inc., Case No. 2:20-cv-01410-GMN-BNW originally filed in the United States District Court for the District of Nevada, but which was closed on January 21, 2021 (the “Previously Closed Case”):
1. I am an attorney duly licensed to practice before all Courts in the State of Texas and I was admitted to practice Pro Hac Vice in the Previously Closed Case on behalf of Venturis on August 18, 2020. I have been a partner in the law firm of Dentons US, LLP since 2009.
2. Venturis initially agreed to retain Barry F. Cannaday in connection with the arbitration that was filed by Venturis against Mr. Montano and Dr. Jacobs (“Counter-Claimants”) on July 19, 2018. Following the issuance of the Arbitrator’s Final Award in that Arbitration on July 20, 2020, Counter-Claimants filed an Application for Order Confirming Arbitration Award in this Court on July 29, 2020. Barry F. Cannaday agreed to continue to represent Venturis in connection with the proceedings in this Court relating to Counter-Claimants attempts to confirm the Arbitration Award. This Court confirmed the Arbitration Award on January 25, 2021 and this case was thereafter closed on January 25, 2021.
3. On April 8, 2021 counsel for Counter-Claimants provided Barry F. Cannaday with copies of post-judgment Interrogatories and Requests for Production,. However, Barry F. Cannaday has not agreed to represent Venturis in any connection with post-judgment collection matters. Mr. Cannaday considered his representation of Venturis in this matter completed when this case was closed on January 25, 2021.
4. Further, as of March 31, 2021, Venturis owed Mr. Cannaday’s law firm, Dentons US LLP (“Dentons”), unpaid fees in excess of $200,000 for representation in this Previously Closed Case and for representation in the underlying arbitration.
5. Barry F. Cannaday performed his obligations as counsel for Venturis in the Previously Closed Case and in the underlying Arbitration in a skillful and diligent manner. However, Venturis has been rendered incapable of paying Mr. Cannaday’s law firm in accordance with the terms of its agreement.
6. Upon investigation as to Venturis ability to pay legal fees in accordance with its agreement, it has become evident that there are currently no assets or revenue streams from which payments can be made.
7. Barry F. Cannaday and Venturis have maintained a good working relationship throughout these proceedings. As such, the present Motion to Withdraw is not the result of any differences between Barry F. Cannaday and the client, but instead is the result of the inability of Venturis to meet its financial obligations to Dentons.
8. Defendant’s address is: 10455 Markison Road, Dallas, Texas 75238 and Barry F. Cannaday certifies that Venturis will be served with a copy of this Motion to Withdraw.
9. I personally visited with Jon Ross, Secretary and a Member of the Board of Directors of Venturis on Thursday, April 8, 2021 and advised him of my intention to file this notice and motion. Mr. Ross stated that Venturis had no objection to this Motion to Withdraw. I declare under penalty of perjury of the laws of the State of Nevada that the foregoing is true and correct.
Executed this 12th day of April, 2021.
/s/ Barry F. Cannaday
Barry, F. Cannaday, Esq.
DENTONS US LLP
2000 McKinney Ave
Suite 1900
Dallas, Texas 75201
Telephone: (214) 259-1855
Facsimile: (214) 259-0910
For more information:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165949650
Why would Venturis Therapeutic's leadership want any of us to discuss the unchallengable fact that Dentons, the company's long-time counsel, quit in April and stated under penalty of perjury to a court that Venturis has no assets of value nor income streams from which to pay $200,000+ in overdue invoices?
This very uncomfortable fact (which can not be challenged) completely invalidates and negates the narrative that Venturis Therapeutic's leadership continues to try to spin. Namely, that Venturis Therapeutics remains viable.
So I completely understand why Venturis Therapeutics' leadership would want us all to move beyond discussing that fact.
For more information:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157492465
Actually, yes.
And here's why: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165936410
NEWS ANALYSIS: The Prevail "deal"
In my opinion, the Prevail InfoWorks / Prevail Partners "deal" does the opposite of what Venturis Therapeutics (formerly CVBT) actually believes. Cutting through the nonsense, it appears that Venturis is buying some sort of software from Prevail, with some vague promise of future investment of a 7-figure amount after X, Y, and Z happen first (when Venturis needs an 8-figure or 9-figure investment) and if Venturis can raise other money first. So basically, if Venturis needs say $30 million (and they certainly need much more than that), Prevail will contribute the last million. Wowie zowie!!!!! Isn't that exciting?
What's really funny is that just in April 2021, Venturis's longtime legal counsel, Dentons, quit representing Venturis because Dentons was owed over $200,000 and stated in a sworn statement to the court that Venturis had no assets or income from which to repay the monies owed. That certainly sounds encouraging.
How much would anyone like to bet that Prevail is providing this software largely on credit, or with primarily backloaded cash costs and very little cash upfront?
I believe this whole nonsense deal instead telegraphs how weak and desperate Venturis Therapeutics actually is. That's not news to anyone that's been paying attention. I believe no one is going to invest in an insolvent, illiquid company where the CEO and controlling shareholder has been more than once accused of fraud, and who was accused by the U.S. government of stealing $14 million from his previous company (and those charges were quietly settled--and we all know what that means because if Mr. Wallen had actually been exonerated, we would be hearing that loud and clear). With just a modicum of due diligence, I believe anyone can see that Venturis Therapeutics is radioactive. Especially since the former CEO, Dan Montano, has won a $1MM+ judgment against the company and is in the process of collecting it.
The law is coming, and I believe Venturis Therapeutics will be liquidated by year-end. If the rumors I'm hearing are true, Venturis is one court action away from this happening. The actual judgment has already been declared against Venturis and affirmed.
For more information:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157492465
Venturis Therapeutics' long-time counsel quitting on the company in April 2021 because the company owes the law firm, Dentons (one of the largest in the country) a sum in excess of $200,000 is a disaster. AND, Dentons has said the company has no assets or income stream from which to pay what is owed. That puts to rest all the anonymous nonsense about how valuable the Venturis patents are. They're not, and anyone who knows the first thing about biotech can see that clearly.
Dentons quitting is a big, big deal. It is confirmation from Venturis's own counsel that this company is hopeless. If they thought there was any money that could be collected, I'm sure they would have tried to collect. According to partner Barry Canaday, there is nothing of value at Venturis.
This thing is going to be liquidated soon in my opinion.
THE END OF VENTURIS/CVBT: The court filing by Venturis's lawyer
So many lies have been promoted in public by anonymous pro-company individuals about Venturis Therapeutics. This declaration by Venturis Therapeutics's own lawyer, withdrawing from representation on April 12, 2021, puts every last one of them to rest. Here it is in its entirety:
DECLARATION OF BARRY F. CANNADAY IN SUPPORT OF MOTION TO WITHDRAW
I, Barry F. Cannaday, declare as follows in support of this Motion to Withdraw as an Attorney for Venturis Therapeutics, Inc. (“Venturis”) in the matter styled Daniel C. Montano and Dr. John W. Jacobs vs. Venturis Therapeutics, Inc., Case No. 2:20-cv-01410-GMN-BNW originally filed in the United States District Court for the District of Nevada, but which was closed on January 21, 2021 (the “Previously Closed Case”):
1. I am an attorney duly licensed to practice before all Courts in the State of Texas and I was admitted to practice Pro Hac Vice in the Previously Closed Case on behalf of Venturis on August 18, 2020. I have been a partner in the law firm of Dentons US, LLP since 2009.
2. Venturis initially agreed to retain Barry F. Cannaday in connection with the arbitration that was filed by Venturis against Mr. Montano and Dr. Jacobs (“Counter-Claimants”) on July 19, 2018. Following the issuance of the Arbitrator’s Final Award in that Arbitration on July 20, 2020, Counter-Claimants filed an Application for Order Confirming Arbitration Award in this Court on July 29, 2020. Barry F. Cannaday agreed to continue to represent Venturis in connection with the proceedings in this Court relating to Counter-Claimants attempts to confirm the Arbitration Award. This Court confirmed the Arbitration Award on January 25, 2021 and this case was thereafter closed on January 25, 2021.
3. On April 8, 2021 counsel for Counter-Claimants provided Barry F. Cannaday with copies of post-judgment Interrogatories and Requests for Production,. However, Barry F. Cannaday has not agreed to represent Venturis in any connection with post-judgment collection matters. Mr. Cannaday considered his representation of Venturis in this matter completed when this case was closed on January 25, 2021.
4. Further, as of March 31, 2021, Venturis owed Mr. Cannaday’s law firm, Dentons US LLP (“Dentons”), unpaid fees in excess of $200,000 for representation in this Previously Closed Case and for representation in the underlying arbitration.
5. Barry F. Cannaday performed his obligations as counsel for Venturis in the Previously Closed Case and in the underlying Arbitration in a skillful and diligent manner. However, Venturis has been rendered incapable of paying Mr. Cannaday’s law firm in accordance with the terms of its agreement.
6. Upon investigation as to Venturis ability to pay legal fees in accordance with its agreement, it has become evident that there are currently no assets or revenue streams from which payments can be made.
7. Barry F. Cannaday and Venturis have maintained a good working relationship throughout these proceedings. As such, the present Motion to Withdraw is not the result of any differences between Barry F. Cannaday and the client, but instead is the result of the inability of Venturis to meet its financial obligations to Dentons.
8. Defendant’s address is: 10455 Markison Road, Dallas, Texas 75238 and Barry F. Cannaday certifies that Venturis will be served with a copy of this Motion to Withdraw.
9. I personally visited with Jon Ross, Secretary and a Member of the Board of Directors of Venturis on Thursday, April 8, 2021 and advised him of my intention to file this notice and motion. Mr. Ross stated that Venturis had no objection to this Motion to Withdraw. I declare under penalty of perjury of the laws of the State of Nevada that the foregoing is true and correct.
Executed this 12th day of April, 2021.
/s/ Barry F. Cannaday
Barry, F. Cannaday, Esq.
DENTONS US LLP
2000 McKinney Ave
Suite 1900
Dallas, Texas 75201
Telephone: (214) 259-1855
Facsimile: (214) 259-0910
So this is it, folks. Venturis's own lawyers says that the company has only worthless assets and no revenues, and that they've stiffed his firm to a figure north of $200,000. I believe this is the final word on this dead company, led to its demise in my opinion by crooks and charlatans, all of them.
You are incorrect, Dentons made it extremely clear that there are no assets of value at Venturis and thus the patents have no value. Let me quote from Barry Cannaday's sworn statement to the U.S. Federal Court: "Upon investigation as to Venturis ability to pay legal fees in accordance with its agreement, it has become evident that there are currently no assets or revenue streams from which payments can be made."
If you are correct and any of Venturis's assets have any meaningful value and therefore could have been used to pay Dentons, contrary to the sworn statement of Mr. Cannaday, he will have made a false statement to the court and would be subject to disbarment.
So let's summarize: A partner at one of the largest law firms in the country has stated to the U.S. Federal Court that the assets of Venturis Therapeutics are worthless. In contrast, an anonymous supporter of the company (who does not identify themself as Mr. Cannaday has) is saying that Mr. Cannaday's statement is false, without offering any evidence.
If the patents had any value whatsoever (and they don't), why did Venturis's own law firm--the one that all but certainly filed the IP and certainly knows what the patents are--state to the U.S. Federal Court, "Upon investigation as to Venturis ability to pay legal fees in accordance with its agreement, it has become evident that there are currently no assets or revenue streams from which payments can be made"?
Venturis's own law firm is publicly stating that they believe these patents are worthless--which happens to also be the opinion of anyone qualified who is not a part of the company's leadership team.
If the patents had any value whatsoever, why wouldn't Dentons have gone after them for payment of its $200,000+ in unpaid invoices?
THE END OF VENTURIS/CVBT: The court filing by Venturis's lawyer
So many lies have been promoted in public by anonymous pro-company individuals about Venturis Therapeutics. This declaration by Venturis Therapeutics's own lawyer, withdrawing from representation on April 12, 2021, puts every last one of them to rest. Here it is in its entirety:
DECLARATION OF BARRY F. CANNADAY IN SUPPORT OF MOTION TO WITHDRAW
I, Barry F. Cannaday, declare as follows in support of this Motion to Withdraw as an Attorney for Venturis Therapeutics, Inc. (“Venturis”) in the matter styled Daniel C. Montano and Dr. John W. Jacobs vs. Venturis Therapeutics, Inc., Case No. 2:20-cv-01410-GMN-BNW originally filed in the United States District Court for the District of Nevada, but which was closed on January 21, 2021 (the “Previously Closed Case”):
1. I am an attorney duly licensed to practice before all Courts in the State of Texas and I was admitted to practice Pro Hac Vice in the Previously Closed Case on behalf of Venturis on August 18, 2020. I have been a partner in the law firm of Dentons US, LLP since 2009.
2. Venturis initially agreed to retain Barry F. Cannaday in connection with the arbitration that was filed by Venturis against Mr. Montano and Dr. Jacobs (“Counter-Claimants”) on July 19, 2018. Following the issuance of the Arbitrator’s Final Award in that Arbitration on July 20, 2020, Counter-Claimants filed an Application for Order Confirming Arbitration Award in this Court on July 29, 2020. Barry F. Cannaday agreed to continue to represent Venturis in connection with the proceedings in this Court relating to Counter-Claimants attempts to confirm the Arbitration Award. This Court confirmed the Arbitration Award on January 25, 2021 and this case was thereafter closed on January 25, 2021.
3. On April 8, 2021 counsel for Counter-Claimants provided Barry F. Cannaday with copies of post-judgment Interrogatories and Requests for Production,. However, Barry F. Cannaday has not agreed to represent Venturis in any connection with post-judgment collection matters. Mr. Cannaday considered his representation of Venturis in this matter completed when this case was closed on January 25, 2021.
4. Further, as of March 31, 2021, Venturis owed Mr. Cannaday’s law firm, Dentons US LLP (“Dentons”), unpaid fees in excess of $200,000 for representation in this Previously Closed Case and for representation in the underlying arbitration.
5. Barry F. Cannaday performed his obligations as counsel for Venturis in the Previously Closed Case and in the underlying Arbitration in a skillful and diligent manner. However, Venturis has been rendered incapable of paying Mr. Cannaday’s law firm in accordance with the terms of its agreement.
6. Upon investigation as to Venturis ability to pay legal fees in accordance with its agreement, it has become evident that there are currently no assets or revenue streams from which payments can be made.
7. Barry F. Cannaday and Venturis have maintained a good working relationship throughout these proceedings. As such, the present Motion to Withdraw is not the result of any differences between Barry F. Cannaday and the client, but instead is the result of the inability of Venturis to meet its financial obligations to Dentons.
8. Defendant’s address is: 10455 Markison Road, Dallas, Texas 75238 and Barry F. Cannaday certifies that Venturis will be served with a copy of this Motion to Withdraw.
9. I personally visited with Jon Ross, Secretary and a Member of the Board of Directors of Venturis on Thursday, April 8, 2021 and advised him of my intention to file this notice and motion. Mr. Ross stated that Venturis had no objection to this Motion to Withdraw. I declare under penalty of perjury of the laws of the State of Nevada that the foregoing is true and correct.
Executed this 12th day of April, 2021.
/s/ Barry F. Cannaday
Barry, F. Cannaday, Esq.
DENTONS US LLP
2000 McKinney Ave
Suite 1900
Dallas, Texas 75201
Telephone: (214) 259-1855
Facsimile: (214) 259-0910
So this is it, folks. Venturis's own lawyers says that the company has only worthless assets and no revenues, and that they've stiffed his firm to a figure north of $200,000. I believe this is the final word on this dead company, led to its demise in my opinion by crooks and charlatans, all of them.
I can't wait to hear this "news". Is it going to be publicly announced at the annual shareholders meeting in May 2021?
Oh wait...it's already June 2021, and there was no annual shareholders meeting in May 2021 as is required by the company's bylaws, and consistent with promises that Calvin Wallen III made in writing to CVBT's shareholders which he has repeatedly broken. This makes it 2 years running that Venturis Therapeutics (formerly CVBT) has not had a shareholders meeting. Does anyone know why?
Oh wait...perhaps here's why:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=164105586
Does anyone know exactly how much the unpaid balance is to Dentons, Venturis's former law firm which quit because Venturis can't pay its bills and has no assets of any value? We know it's at least $200,000, but it would be nice to know the actual amount.
It's a shame that Venturis's supporters (my best guess is it's the company's leadership writing anonymously) continue to lie about Venturis's non-existent possibilities. Dentons statement to the court makes clear what those possibilities actually are.
Wouldn't Dentons have known about such "news" before they quit in April 2021?
If there's some "big deal" in the making, wouldn't it have been in the works in April 2021?
And if such a "big deal" was in the works, would Dentons have even quit?
We all know the answers to these questions.
You would have to ask Dan Montano why he is doing what he is doing, I can't say. But based on what I've read here posted by others, I suspect the reason why Dan is pursuing the company's assets to liquidate them (even if they are worthless) is because he's required to do this first in order to then pursue the officers and directors personally and their insurance company if there is one to collect his judgment. I'm not a lawyer nor am I involved, but if I understand correctly, actions taken by the officers and directors throughout this extended ordeal have created personal liability that allows for the piercing of the corporate veil. But I believe that first Montano is required to collect what he can from the company before he goes after the individuals.
Whatever happened to the so-called "valuable" patents, Venturis supporters? (Obviously they were laughable to begin with to anyone outside this company who knows the first thing about biotechnology.) Once Dan Montano seizes them and the rest of the assets he is reportedly in the process of seizing, it will be interesting what their real value actually is.
As it is, Venturis' lawyer Barry Canaday has already passed judgement on the value of those patents. His direct quote: "Upon investigation as to Venturis ability to pay legal fees in accordance with its agreement, it has become evident that there are currently no assets or revenue streams from which payments can be made."
THE END: The revealing declaration from Venturis's lawyer:
So many lies have been promoted in public by anonymous pro-company individuals about Venturis Therapeutics. This declaration by Venturis Therapeutics's own lawyer, withdrawing from representation on April 12, 2021, puts every last one of them to rest. Here it is in its entirety:
DECLARATION OF BARRY F. CANNADAY IN SUPPORT OF MOTION TO WITHDRAW
I, Barry F. Cannaday, declare as follows in support of this Motion to Withdraw as an Attorney for Venturis Therapeutics, Inc. (“Venturis”) in the matter styled Daniel C. Montano and Dr. John W. Jacobs vs. Venturis Therapeutics, Inc., Case No. 2:20-cv-01410-GMN-BNW originally filed in the United States District Court for the District of Nevada, but which was closed on January 21, 2021 (the “Previously Closed Case”):
1. I am an attorney duly licensed to practice before all Courts in the State of Texas and I was admitted to practice Pro Hac Vice in the Previously Closed Case on behalf of Venturis on August 18, 2020. I have been a partner in the law firm of Dentons US, LLP since 2009.
2. Venturis initially agreed to retain Barry F. Cannaday in connection with the arbitration that was filed by Venturis against Mr. Montano and Dr. Jacobs (“Counter-Claimants”) on July 19, 2018. Following the issuance of the Arbitrator’s Final Award in that Arbitration on July 20, 2020, Counter-Claimants filed an Application for Order Confirming Arbitration Award in this Court on July 29, 2020. Barry F. Cannaday agreed to continue to represent Venturis in connection with the proceedings in this Court relating to Counter-Claimants attempts to confirm the Arbitration Award. This Court confirmed the Arbitration Award on January 25, 2021 and this case was thereafter closed on January 25, 2021.
3. On April 8, 2021 counsel for Counter-Claimants provided Barry F. Cannaday with copies of post-judgment Interrogatories and Requests for Production,. However, Barry F. Cannaday has not agreed to represent Venturis in any connection with post-judgment collection matters. Mr. Cannaday considered his representation of Venturis in this matter completed when this case was closed on January 25, 2021.
4. Further, as of March 31, 2021, Venturis owed Mr. Cannaday’s law firm, Dentons US LLP (“Dentons”), unpaid fees in excess of $200,000 for representation in this Previously Closed Case and for representation in the underlying arbitration.
5. Barry F. Cannaday performed his obligations as counsel for Venturis in the Previously Closed Case and in the underlying Arbitration in a skillful and diligent manner. However, Venturis has been rendered incapable of paying Mr. Cannaday’s law firm in accordance with the terms of its agreement.
6. Upon investigation as to Venturis ability to pay legal fees in accordance with its agreement, it has become evident that there are currently no assets or revenue streams from which payments can be made.
7. Barry F. Cannaday and Venturis have maintained a good working relationship throughout these proceedings. As such, the present Motion to Withdraw is not the result of any differences between Barry F. Cannaday and the client, but instead is the result of the inability of Venturis to meet its financial obligations to Dentons.
8. Defendant’s address is: 10455 Markison Road, Dallas, Texas 75238 and Barry F. Cannaday certifies that Venturis will be served with a copy of this Motion to Withdraw.
9. I personally visited with Jon Ross, Secretary and a Member of the Board of Directors of Venturis on Thursday, April 8, 2021 and advised him of my intention to file this notice and motion. Mr. Ross stated that Venturis had no objection to this Motion to Withdraw. I declare under penalty of perjury of the laws of the State of Nevada that the foregoing is true and correct.
Executed this 12th day of April, 2021.
/s/ Barry F. Cannaday
Barry, F. Cannaday, Esq.
DENTONS US LLP
2000 McKinney Ave
Suite 1900
Dallas, Texas 75201
Telephone: (214) 259-1855
Facsimile: (214) 259-0910
So this is it, folks. Venturis's own lawyers says that the company has only worthless assets and no revenues, and that they've stiffed his firm to a figure north of $200,000. We'll discuss the implications of this declaration in the future, but right now, I believe this is the final word on this dead company, led to its demise in my opinion by crooks and charlatans, all of them.
Venturis Therapeutics shareholders shafted again, 2021 version
Its now 2 years running that the leadership of Venturis Therapeutics (formerly Cardiovascular Biotherapeutics), the insolvent, illiquid, zombie company, has shafted us shareholders by not holding the annual shareholders meeting as required by the company's bylaws and by the written promises of Calvin Wallen III, the Chairman and CEO. The shareholders meeting was supposed to occur in May 2021 right about now, and obviously is not happening. Nor did it happen in May 2020. The leadership of this company acts as if nothing is wrong with that, or anything else.
Why is the company not delivering on this most basic of promises?
Why has the company not run a single clinical trial since 2007 and why are the company's supporters promoting The Big Lie that it actually is?: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163681691
Why has most everything that Calvin Wallen told us at previous shareholder meetings with regards to capital raising, re-starting clinical trials, etc. never come true? Is it possible for any CEO to have less credibility than Mr. Wallen? And why are the directors doing nothing about all of this?
For more information:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157492465
The Big Lie Part 2, the Venturis/CVBT version:
The Venturis Therapeutics/CVBT version of The Big Lie is that there are allegedly two pivotal clinical trials ongoing in coronary artery disease and diabetic foot ulcers.
That's a "PANTS ON FIRE" lie.
Yet this lie is being anonymously promoted publicly by CVBT supporters (who in my opinion are the leadership of this company who are more than happy to lie when their names are kept anonymous, rather than lie to our face using their real name such as "Grant Gordon").
For the record, Venturis/CVBT has not run a single clinical trial since 2007. Not one patient has been treated in nearly 15 years! One cannot be running an ongoing pivotal trial in 2021 if one hasn't run a single clinical trial since 2007.
I issued a public challenge to the liar and coward who anonymously made that absurdly false statement. And so far, the liar/coward has refused to respond.
Here is my question to the liar/coward: Would you please indicate the month and year of the most recent patients treated in these so-called "pivotal trials"? And tell us what hospital(s) they were treated in?
Of course, we will never get a response to this question. Because the honest, correct answer is that there are ZERO ongoing clinical trials, there have been no clinical trials run since 2007, that Venturis Therapeutics is a zombie company that exists only in cyberspace, that Venturis is insolvent, illiquid, and all but dead, that Calvin Wallen and Grant Gordon are con men and liars, and that the so-called "valuable patents" are a pile of steaming sheisse that no one wants or cares about because they're laughably worthless. If these patents are so valuable as is anonymously claimed (and note that claim is never made when someone's name is attached to it), tell us, why has Venturis had them for several years now yet never been able to monetize them in terms of investment, partnering deals, and/or sale of the patents? Easy - because they're a joke and anyone who's actually a biotech person knows that in a nanosecond. The patents tell us what happens in the real world when a failed oil and gas buffoon decides to play biotech.
If Venturis leadership is willing to publicly lie (albeit anonymously) about something so clearly absurd and verifiably untrue as ongoing clinical trials, there's literally nothing they won't lie about. And that's why no investors or partners will ever touch this company--because there's literally nothing that can be trusted, let alone that everything here is worthless.
Soon this zombie company will be put out of all of our misery.
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Yes, announcements and reality are two different things, indeed. The company's supporters are FRAUDULENTLY claiming there are two ongoing pivotal trials in heart disease and diabetic foot ulcers, when in fact there are NO ONGOING CLINICAL TRIALS. In fact, Venturis/CVBT has not treated a single new patient in nearly 15 years.
It's interesting that no one who is a supporter of this company has risen to the challenge indicated in my earlier posting asking someone to name the month, date, and hospital locations of the most recent patients treated in these allegedly "ongoing pivotal trials." There's a reason why: BECAUSE THE CLAIM OF VENTURIS ONGOING CLINICAL ACTIVITY IS A FLAT-OUT LIE.
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The Venturis Therapeutics / CVBT version of THE BIG LIE:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163577011
Here's more information about the horrific current state of affairs:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157492465
There is a greater chance that a heart disease patient will be dosed sometime next week in Venturis Therapeutics's non-existent pivotal trial that delusional Venturis management apologists are claiming is underway (or is it the company's leadership itself?), than "some Big Pharma makes a play for Venturis."
Big pharma would never touch a company that has a corrupt CEO and leadership team who is alleged to have stolen $14 million, where the words fraud, lies, lawsuits, kickbacks, etc., are all routine parts of the discussion.
But we're allowed our alcoholic delusions. Isn't that right, Grant?
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Interesting comment, johnnymcgriffen347. I don't know if you've noticed, but such behavior is consistent with Schizophrenic Alcoholic Dementia. If you're right johnnymcgrifffen347, it would suggest that Grant Gordon is suffering from Schizophrenic Alcoholic Dementia (SAD) as well as Alcoholic Impotence (AI).
While I've heard consistent rumors from Venturis sources that Grant was pushing Calvin Wallen to pursue the Alcoholic Impotence indication for Venturis Therapeutics's drug which insiders believe was as much for personal reasons, this suggests that Grant's situation is even more dire than outsiders may have realized. I did some reading, and according to the medical literature, patients who are suffering from Schizophrenic Alcoholic Dementia have usually also reached End-Stage Liver Disease (ESLD). It's apparently pretty rare for someone to have SAD who has not already reached the point of ESLD. And we know what happens to ESLD patients.
Sad!
THE BIG LIE, Venturis/CVBT version:
I see that we now have the Venturis/CVBT version of The Big Lie. Supporters of Venturis Therapeutics are claiming that the company is currently in two ongoing pivotal clinical trials in two different indications.
THAT IS AN OUTRIGHT LIE.
Venturis/CVBT has not run a single clinical trial since 2007. You can not be running an ongoing pivotal trial in 2021 if you haven't run a single clinical trial since 2007.
Here is my question to those who are making this false claim that there are two ongoing pivotal trials taking place: Would you please indicate the month and year of the most recent patients treated in these so-called "pivotal trials"? And tell us what hospital(s) they were treated in?
Let's see what answers are provided here.
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I'm glad that discussion of the Schizophrenic Alcoholic Dementia possibilities amuses you. You can look forward to lots of amusement to come.
Isn't it true that people who have conversations with themselves under multiple different identities are exhibiting texbook symptoms of schizophrenic alcoholic dementia?
Perhaps someone with laser-guided insights could comment on this. And perhaps share any insights he/she may also have on how long it takes for schizophrenic alcoholic dementia to progress to end-stage liver disease. Is it also true that progression occurs more rapidly in patients who are of Northern European descent?
And isn't it true that Venturis Therpeutics/CVBT recently filed a patent on treating schizophrenic alcoholic dementia with its drug?
I'm sure we will hear the details of this in the 2021 shareholders meeting which will be held in May 2021 as required by the company's bylaws. Oh wait...there is no shareholders meeting being held in May 2021, in violation of the company's bylaws AND Calvin Wallen's written promises to the shareholders, FOR THE SECOND YEAR IN A ROW.
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I'm laughing hard at the stupidity of Venturis Therapeutics' leadership. I too could create a patent portfolio of nonsense (which is what Venturis has) by filing a patent, for example, that indicates that Martian pixie dust combined with water cures all cancer. Gee, that's an original idea no one has taken before--and I wonder why?
That's what Venturis Therapeutics has done. Filing patents on nonsense that not only is completely unproven, but worse, which no one cares about. If this stuff is so valuable, why do we not see licensing deals, or partnering deals, or investor deals, or anything at all? We all know the answer--because no one credible wants to touch this company or anything it has, both because of the complete lack of credibility of everyone associated with this thing, the credible allegations that these are bad actors, and that more than anything, none of this is serious.
This is all of what one would expect from an alleged crook (the Grand Poobah here) and his cronies of idiots from the oil and gas industry, who know about as much about biotech as Kim Kardashian does. At least she has real wealth, and actually earned it honestly. Unlike those who shall not be named who have been accused of theft of company assets, theft of investor assets, and fraud more than once in their careers.
This is the final nail in the coffin.
Sayanora and goodbye, Venturis/CVBT.
But maybe we'll hear all the great news taking place at the 2021 shareholders meeting in May 2021, right?
The non-existent 2021 shareholders meeting, Venturis Therapeutics/CVBT
Since Venturis Therapeutics (formerly Cardiovascular Biotherapeutics/CVBT) gave its shareholders the middle finger in 2020 by not holding a shareholders meeting as required by the company's bylaws, don't hold your breath there will be a 2021 one. In fact, I'd be shocked if it happens. Given that the shareholders meeting is supposed to be 1.5 months away, and given that we have heard nothing about any such meeting, it is likely we will get a middle finger from the leadership of this company for the second straight year running.
Do we have a functioning Board of Directors of this company? If so, why are they allowing this to happen?
Venturis has showed us with its actions that it does not give a damn about the investors. We have been told many lies and I still remember Calvin Wallen III telling us that under his leadership we could look forward to regular updates and annual shareholders meetings. What a lie that was.
Prove me wrong, Venturis. I look forward to hearing about the (current non-existent) 2021 shareholders meeting in May as required by the company's bylaws...and ESPECIALLY by its promises to us.
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More false Venturis Therapeutics/CVBT promises
Has anyone else noticed that for the last 4 years running, Venturis Therapeutics (previously Cardiovascular Biotherapeutics) has continually "updated" its postings on clinicaltrials.gov, indicating that Venturis's clinical trials are going to re-commence 6-12 months out, yet as time gets closer to those indicated dates, the company instead changes them again further out? The fact is, this has been continuously happening over and over and over again since 2016. The dates keep changing, but the results do not. Not a single clinical trial has been run since 2008. That is a fact.
I made some inquiries, and I learned that postings on clinicaltrials.gov are made by the companies themselves, not the government. It's an honors sytem. Well, that doesn't work when dishonest players who post things that are not true are seeking to manipulate the system for their own purposes, in order to create an impression to the uninformed which doesn't conform to reality. My best guess in this case is Venturis has been trying to create the impression with possible investors that "things are happening" when they're not. Venturis is dead dead dead, and in my opinion we the shareholders have been screwed by the lies of this current leadership team and Mr. Wallen in particular.
Anyway...this tired game no longer fools anyone. I'm awaiting the final bankruptcy filing which I believe is imminent.
For more information about this failed company and the alleged crook who is its CEO and controlling shareholder, read here:
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Correct me if I'm wrong - didn't Calvin Wallen IN WRITING promise shareholders during the proxy takeover battles that he would hold shareholders meetings every year (at a time when Dan Montano was not, as a way of contrasting how things would be different under new leadership of CVBT)?
Yes, he did. So don't quote me the law, because that's BS and flies in the face of what Mr. Wallen publicly promised all of us.
CALVIN WALLEN LIED. It's that simple. And as the U.S. government has charged in their case against Calvin Wallen III, lying (and fraud, and theft) seems to be a "thing" with him.
For more information about this failed company and the alleged crook who is its CEO and controlling shareholder, read here:
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Help me understand your argument - you're saying since Venturis/CVBT was not a public company in 2020 there was no shareholders meeting. Yet there were annual shareholders meetings in 2019, 2018, 2017 - does this mean you're saying Venturis/CVBT was public during those years?
Dead & Deader: The aftermath of Venturis/CVBT taken over by an alleged crook
All that awaits Venturis Therapeutics shareholders is the inevitable bankruptcy filing after having lost a 7-figure judgment at the hands of its former CEO, Dan Montano. Venturis is deader than Herman Cain. This was the inevitable result when an alleged crook, Calvin Wallen, took over Cardiovascular Biotherapeutics (or CVBT, as this company was called before the name was changed to Venturis Therapeutics) based on false promises (also known as lies) made to shareholders.
BTW, no shareholders meeting was held in 2020, in VIOLATION of the company's bylaws and promises made to shareholders by Calvin Wallen III. Further, a series of lies were anonymously disseminated promising that the shareholders meeting would be held in the fall of 2020 when it didn't happen in May 2020 as was required. Well, we know how that played out.
A shareholder recently reported calling the company. No one answered the phone, so the shareholder left a message. Was the message returned? Of course not! Dead, dead, dead, deader, deadest...you pick.
As for the alleged crook Mr. Wallen (and it will be nice to be able to soon drop the word "alleged"), we will be learning soon when his upcoming trial brought by the U.S. government will take place, for allegedly stealing $14 million from his previous company, Tauren Exploration. Mr. Wallen has pursued a scorched earth approach to delaying his trial, with an assist from coronavirus, but the law is coming for him. While some form of "settlement" was supposedly reached late in 2020, the date came and went in December 2020 when it was supposed to be publicly presented to the bankruptcy court. What happened? We will find out soon. A hearing is scheduled for next week, and the smart money has it that the attorneys for both sides will tell the judge that the "settlement" failed and the case should now proceed to trial. Let's see what happens. Once the trial happens and assuming Mr. Wallen loses the case (a near-certainty), it will be interesting to see what the IRS does, since even stolen money is taxable for the thief (and at that point we can drop the word "alleged"). I wonder if Mr. Wallen paid taxes on that $14 million? We will eventually find out.
For more information about this failed company and the alleged crook who is its CEO and controlling shareholder, read here:
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I'm sorry to hear about your father's passing.
I don't think anyone outside of CVBT/Venturis leadership would suggest the shares have any value at all. They're all but certainly worthless, and this company is all but certainly dead.
That said, if you want to transfer the title of the shares, you should contact the company directly and they should be willing to assist you.
That is, assuming they return your call. I would not take that bet.
NEWS FLASH: In 2020 there was no annual shareholders meeting, in violation of the company's bylaws and promises made by leadership.
Where's the accountability?
More coming...
With regards to Venturis being re-listed, there is a greater chance that the coronavirus pandemic will be over and not a single case will be found in the U.S. on January 1, 2021, than there is that Venturis will be re-listed in 2021.
Are you referring to the bankruptcy filing?
Key question: How seriously will the IRS take a referral for possible tax evasion coming from a U.S. government bankruptcy trustee?
Will it be relegated to "the pile" that they get to when they get to, or is it going to receive prioritized and/or heightened scrutiny?
Venturis supporter, I'd love to hear your thoughts on this.
All that the legal filing says is that the parties have reached a settlement. It says nothing as to what that settlement is. However, the settlement is going to be presented to the court, so we will get to see the terms very soon. And you can be sure I will share the terms with the public.
Brace yourself Venturis supporters, it's not going to be pretty. I can't wait to see the public acknowledgements Mr. Wallen will be admitting to.
If Mr. Wallen publicly acknowledges responsibility in any way shape or form, it's over for Venturis. Not one investor is going to ever put another dime into anything that Wallen does, whether Venturis or anything else. So let's see what's coming.
And by the way, if Mr. Wallen acknowledges having taken any of the money from Tauren in any way, shape, or form, even if he returns any part of it, this settlement is hardly the end of his problems. The IRS is going to want to take a look into whether there has been any tax evasion as well. For the record, tax evasion is a criminal felony. F-E-L-0-N-Y. And with 100% certainty, the bankruptcy trustee is going to make sure the IRS gets notification of this settlement as well. That sort of going-the-extra-mile is what happens when a-holes antagonize government officials, if the rumors are true. Scorched earth tactics come at a cost.
So unless the settlement is a complete vindication of Calvin Wallen III--and there's exactly a 0% chance of that--this is far from the end of Mr. Wallen's problems in this matter.
So Calvin Wallen pled guilty?
And how much of the stolen $14 million is he returning to Tauren?
The lies of Venturis Therapeutics leadership
Here we are at the end of November 2020, and Venturis not only hasn't held the annual shareholders meeting in 2020 in violation of the company's bylaws (which was supposed to take place in May 2020), but worse, Venturis has not publicly said a thing about this gross abdication of its responsibilities to its shareholders. While someone (in my opinion a member of the leadership team) anonymously indicated the meeting had been re-scheduled to sometime in the fall of 2020, obviously that never happened. There's 30 days left for this meeting to ever take place in 2020. Don't hold your breath.
In my opinion, Venturis has collapsed under the weight of years of its own lies. Lies that were used to gather support for the hostile takeover of Cardiovascular Biotherapeutics (CVBT), lies that were disseminated by leadership throughout its failed tenure since 2014 which I have documented, and lies anonymously shared that have suggested huge investment, investment bankers raising funding, etc., none of which has remotely happened. It's all been one giant pile of stinking lies.
But why should anyone have thought it would end differently? Anyone who did even a modicum of due diligence on Calvin Wallen III would have seen all sorts of red flags. And was anyone surprised when the U.S. government filed a lawsuit against Mr. Wallen to recover the $14 million he allegedly stole from his previous company, Tauren Exploration, before Tauren filed for bankruptcy as a consequence of Mr. Wallen's stellar leadership? To Mr. Wallen's credit, he has been able to delay, delay, delay judgment day in court by pursuing a scorched earth approach to his upcoming trial, and he got a huge assist from coronavirus adding to that delay. But the law is coming, and I would guess that in 2021 Mr. Wallen will finally have his day in court. It's clear to me it won't end well for him.
I've read the government's charges against Mr. Wallen and the preliminary evidence, where the government provide dates, amounts, and destination bank accounts of the monies Mr. Wallen allegedly stole from Tauren. This information was put together by a forensic accountant hired by Tauren's bankruptcy trustee, and he revealed the alleged fraud for all to see. I can't imagine there's any credible defense Mr. Wallen can mount. But one thing's for sure: If he was so sure he is innocent, why has Mr. Wallen done everything possible to put off the start of his own trial? We all know the answer to that question.
All that remains is the upcoming Venturis Therapeutics bankruptcy filing.
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Dead&Deader: When an alleged crook took over CVBT (now called Venturis Therapeutics)
All that awaits Venturis Therapeutics shareholders is the inevitable bankruptcy filing after having lost a 7-figure judgment at the hands of its former CEO, Dan Montano. Venturis is deader than King Tut. This was the inevitable consequence when an alleged crook, Calvin Wallen, took over CVBT based on a slate of false promises (also known as lies) made to shareholders.
By the way, we're now almost SIX MONTHS PAST DUE from when there was supposed to be a shareholders meeting in 2020. Perhaps it will still happen, in December, at the North Pole, with Santa Claus joining the Board of Directors. Or more likely, there will never be another shareholders meeting ever again.
As for Mr. Wallen, we will be learning soon when his upcoming trial brought by the U.S. government will take place, for allegedly stealing $14 million from his previous company, Tauren Exploration. Mr. Wallen has pursued a scorched earth approach to delaying his trial, with an assist from coronavirus, but the law is coming for him. The day of reckoning will likely occur in 2021. And assuming Mr. Wallen loses the case, it will be interesting to see what the IRS does, since even stolen money is taxable for the thief (and at that point we can drop the word "alleged"). I wonder if Mr. Wallen paid taxes on that $14 million? We will eventually find out.
For more information about this failed company and the alleged crook who is its CEO and controlling shareholder, read here:
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Repeating lies over&over makes them no more truthful
It is a LIE to indicate that the U.S. government's pursuit of Calvin Wallen III for allegedly having stolen $14 million from his previous company, Tauren Exploration, is over. Nothing could be further from the truth. I've explained this issue before in two postings discussing the BAD FAITH of these claims, and I will link them in below. The fact is, the trial is going ahead and a hearing is scheduled for November to set the date in 2021. If you look at the U.S. Bankruptcy Trustee's case docket, you can verify this yourself. Notice the words in red at the top of the webpage: "Adversary Proceeding". If the case had been dismissed, dismissal would be indicated. Instead, it's the opposite--the case is moving forward.
Here are my previous postings explaining the lie that Venturis and/or its supporters continue to repeat over and over and over and over again.
The Venturis BAD FAITH lie debunked - Part 1
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157672020
The Venturis BAD FAITH lie debunked - Part 2
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157653129
It's clear to me there's a consistent pattern of false information that has been put out by Venturis Therapeutics. This is just one further example.
WHAT DOES IT SAY THAT VENTURIS AND/OR ITS SUPPORTERS FEEL THE NEED TO LIE ABOUT SOMETHING THAT CAN BE EASILY DISPROVED WITH A CLICK OF THE MOUSE? Think about that.
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