is...trading...and investing...
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks! I am told buying manana is OK too... :)
We are buying again.
Exactus, Inc. Announces 2021 Debt Reduction and Settlement of Claims
Andrew Johnson
Exactus, Inc. Announces 2021 Debt Reduction and Settlement of Claims
- Settlements of over $1,250,000 in Liabilities -
- Preferred Stock Conversions -
DELRAY BEACH, FL / January 25, 2020 / Exactus, Inc. (OTCQB: EXDI) (the “Company”) provides a series of announcements including 1) overall debt reduction of approximately $1,250,000; 2) settlement of outstanding claims for license and consulting fees; 3) termination of Ceed2Med affiliation & Series E Preferred Stock cancelation; and 4) conversion of Series A, Series B-1, Series B-2, and Series D Preferred.
As the company continues its restructuring process, it has dramatically cut costs, improved operational capabilities, built its digital sales infrastructure Marketing Automation & Sales System (“MASS”), entered into a manufacturing agreement, launched its private label division, and settled the majority of its liabilities and claims.
Executive Chairman of the Board, Larry Wert commented, “Since the initiation of the restructuring process, the company has worked hard to improve our path to grow shareholder value. We have significantly cleaned up our balance sheet and resolved several issues and obligations as we continue to operate. The company is exploring several opportunities both in and outside the CBD sector. We anticipate that we will have more exciting news in the near future as we are engaged in various growth initiatives.”
The Company took these additional steps as part of its previously announced efforts to reduce operating costs and streamline operations in order to position the Company for future acquisitions.
1) Following an extensive review, the Company’s outstanding payables and obligations were reduced as follows:
Approximately $1,250,000 in liabilities and payables were eliminated consisting of approximately $575,000 in liabilities previously recorded on the balance sheet for payment to a licensor for Fibrilizer and Matrilizer technology; in addition, liabilities associated to consultants, unpaid loans, advances, bonuses and compensation payable to management of the Company were converted into shares of common stock.
2) KDI Innoviation Ltd. / Dr. Krassen Dimitrov Arbitration Settlement and Release:
Dr. Krassen stated “I am pleased that our disputes have been fully resolved and I look forward to the continued success of Exactus.”
During September 2019 an arbitration had been commenced against the Company by its former director Dr. Krassen Dimitrov alleging breach of a consulting agreement and for license fees claimed to be due and owing to KDI Innovation, Ltd., his affiliate. The Company asserted various counterclaims and during 2020 the parties agreed to voluntarily dismiss the arbitration in order to enter into direct negotiations for settlement. During January 2021, the parties reached agreement as to a resolution of all issues and are pleased to announce the settlement of their disputes. The terms of the settlement are confidential other than no cash was paid.
3) Termination of Ceed2Med, LLC Affiliation / Series E Preferred Stock Cancellation:
On July 31, 2019 we granted 10,000 shares of our Series E Preferred Stock to Ceed2Med, LLC in connection with our efforts to enter into a seed to sale strategy for our hemp-derived CBD business and secure farming rights and expertise. In addition, between 2018-2019 we entered into a series of agreements for product and funding with Ceed2Med, LLC. On January 21, 2021 we entered into a Settlement Agreement with Ceed2Med, LLC and its principals cancelling all agreements, obligations and claims and providing full mutual releases of the Company and such persons. In connection with the settlement, Ceed2Med, LLC agreed to assignment of all rights to convert its outstanding shares of Series E Preferred Stock at a price of $1.60 per share to third parties in connection with settlement and releases of third party claims, resulting in no further dilution from issuances of settlement shares other than the right for Ceed2Med to have received such shares upon conversion and thereupon the Series E Preferred Stock was simultaneously converted into shares of common stock.
4) Series A / Series B-1 / Series B-2 / Series D Preferred Conversions:
The Company has extended a limited period of time for all holder of Series A, Series B-1, Series B-2, and Series D Preferred stock to convert their shares into Common Stock in order to secure releases, eliminate claims, and simplify the cap table. The Company expects to secure full conversion of all shares and exchange mutual releases with the holders.
About Exactus:
Exactus Inc. (OTCQB:EXDI) is a leading producer and supplier of hemp-derived ingredients. Exactus specializes in hemp-derived ingredients (CBD & CBG) that meet the highest standards of quality and traceability. The Company strives to stay ahead of market trends and regulations.
For more information about Exactus: www.exactushemp.com.
Andrew L. Johnson
Chief Strategy Officer
C: (509) 999-9695
Email: ajohnson@exactusinc.com
Exactus, Inc. | 80 NE 4th Ave STE 28, Delray Beach, FL 33483
http://www.exactushemp.com/
16.89
AJ says all OK and see PR this am.
.16
waiting on call from AJ
what will CAFc do?????
VHC will get some $ methinks... how much????
From analyst friend, again:
He says:
7/8/19 CAFC rules on VirnetX's appeal of the PTAB decision: http://www.cafc.uscourts.gov/sites/default/files/opinions-orders/17-1368.Opinion.7-8-2019.pdf
" VirnetX argued we should wait for the Supreme Court to decide whether inter partes review is constitutional. That issue is now moot"
" (4) substantial evidence does not support the Board’s finding of anticipation of claims 1–2, 6–8, and 12–14 of the ’151 based on Kiuchi; (5) the Board erred in construing claims 1, 3–4, 7–8, 10 and 12 of the ’135 patent; and (6) VirnetX’s constitutional challenge is moot. We vacate the Board’s decisions and remand for further proceedings consistent with this opinion."
11/22/19 CAFC rules on Apples appeal of the final judgement by jury. http://www.cafc.uscourts.gov/sites/default/files/opinions-orders/19-1050.Opinion.11-22-2019.pdf
" We affirm the district court’s judgments that Apple is precluded from making certain invalidity arguments and that Apple infringed the ’135 and ’151 patents. We reverse the district court’s judgment that Apple infringed the ’504 and ’211 patents. We remand the case for proceedings on damages consistent with this opinion"
REMANDED FOR DAMAGES. NOT to rehear anything about the patent.
This judgement, further, they note:
"On November 6, 2012, a jury found that Apple had infringed all asserted claims. The jury also found that Apple had failed to establish by clear and convincing evidence that the claims were anticipated by Kiuchi." Kiuchi is the reason the PTAB is finding the patents invalid. I don't see how the circuit court is going to care about the PTAB saying they are now invalid because of Kiuchi, when it's already been tried and ruled by a higher court.
7/14/20 PTAB on remand rules '151 and '135 are invalid (again): https://s3-us-west-1.amazonaws.com/ptab-filings%2FIPR2015-01046/112
citing the Kiuchi argument " ORDERED that claims 1, 3, 4, 7, 8, 10, and 12 of the ’135 patent are unpatentable"; a similar filing was made for the '151 patent.
I don't understand how the PTAB can do that, when the CAFC already said PTAB was wrong. More importantly, I don't see how the CAFC is going to care - this issue is moot.
I don't see how Arthrex plays out here, if at all. SCOTUS' ruling on Arthrex would either say the APJ's are or are not constitutional and thus would only help VHC if they were found unconstitutional (throwing out the PTAB's invalidations). Or, if found constitutional, it would be status quo for this 00855 case.
Apple is going to appeal, and they are going to cite the invalidation of the patents by the PTAB on remand.
In my opinion, the CAFC is going to say that these patent challenges have already been heard and settled by a jury, and then again addressed on appeal. And that the scope of the case is limited to DAMAGES at this point.
###
So what will the CAFC do? Send it back to TX again? ???
OK... BUY
from analyst:
"Arthrex may only apply to VirnetX vs Cisco, and not to the Apple cases. Re-read their CAFC appeal, which brought up the PTAB invalidations, but the CAFC upheld the patents anyway. There was no mention of the constitutionality of the PTAB decisions as in Arthrex. ...So: I'm not sure how VHC loses against Apple. Apple will appeal for sure, they will not get SCOTUS cert. ...I'm thinking this can go to VHC."
Stock value then would be around $7-8... by April 2022?
IF they license or sell, stock higher.
well--- 5.23 now...
watch pre-market Tues--- IF $6 or under it could be a buy since stock may be worth $7-8 ahead... $1 pay-out ahead???
Possible for KL to keep about $500-600 million IF Apple pays all.
The patent invalidity and expiration situation is tricky.
Read LDM and Chairman posts on IV VHC MB.
They talk about the patents.
This is not over by a long shot most know.
TO REPEAT and this is solid:
steve at IV VHC Prime:
The Final Judgment would add $4-$5 per share (after the usual payouts) but the check from Apple will be a 2023 phenomena, if ever. Apple's defenses are still with the Mangrove IPRs. Those may still invalidate the 135 and 151 patents before all Apple appeals (including cert) are exhausted.
I'm not crapping on on the stock, but no one is going to value this judgment into VirnetX's valuation until those IPRs are addressed. They're active in the CAFC today with a motion to remand on constitutional and procedural challenges.
Until those are resolved in VHC's favor - by remand or overturning the PTAB's invalidation decision - VHC is a $4.80 to $5.20 stock. This pop will get faded like every other with folks here asking WTF just happened. Everyone and their barber knew this was coming based on HJS's order a week and 1/2 ago.
steve at IV VHC Prime:
The Final Judgment would add $4-$5 per share (after the usual payouts) but the check from Apple will be a 2023 phenomena, if ever. Apple's defenses are still with the Mangrove IPRs. Those may still invalidate the 135 and 151 patents before all Apple appeals (including cert) are exhausted.
I'm not crapping on on the stock, but no one is going to value this judgment into VirnetX's valuation until those IPRs are addressed. They're active in the CAFC today with a motion to remand on constitutional and procedural challenges.
Until those are resolved in VHC's favor - by remand or overturning the PTAB's invalidation decision - VHC is a $4.80 to $5.20 stock. This pop will get faded like every other with folks here asking WTF just happened. Everyone and their barber knew this was coming based on HJS's order a week and 1/2 ago.
Look forward to speaking with AJ...
Rise from the article only?
They have 200 million... interest covers the current market cap.
When do they get Apple $ and how much? 2022.
stock should settle down around 5.50-6+
FYI--- from Investor Village:
EXDI / Message Board
Previous 308 Messages
OTC/BB stocks carry certain risks. For more information visit http://www.sec.gov/answers/otcbb.htm
MSG # SUBJECT TYPE AUTHOR SENTIMENT 609 .05--- see posts on IHUB too GN nealhugh 1/9/2021 4:29:28 AM
608 Re: .079--- AJ is positive for results ahead // neal GN nealhugh 12/25/2020 9:28:56 PM
607 Re: .079--- AJ is positive for results ahead // neal GN LDM 12/25/2020 4:42:31 PM
606 Re: .079--- AJ is positive for results ahead GN nealhugh 12/24/2020 2:24:34 PM
605 Re: .07--- AJ is positive for results ahead GN LDM 12/24/2020 1:20:06 PM
604 .07--- AJ is positive for results ahead GN nealhugh 12/24/2020 12:54:26 PM
603 Re: EXDI is being sued by noteholder 3i. (2) GN LDM 1 12/22/2020 5:22:59 PM
602 Re: Kelly on IHUB--- not credible/ Larry GN nealhugh 12/6/2020 2:59:27 PM
601 Re: Kelly on IHUB--- not credible GN nealhugh 12/6/2020 2:51:56 PM
600 Re: Kelly on IHUB--- not credible GN LDM 12/6/2020 2:45:38 PM
599 Kelly on IHUB--- not credible
Biotechs were overall weak today and DCTH seemed to correlate.
No change in expectations for TP $23.
We are loaded and buying.
Drop today of 6%--- porque???
We are loaded.
.05--- nickel. We shall see ahead, eh?
The report from Rosalind is positive as it has been since they took over... They like Michel's work a lot so far!
We have been buying since $9.
We shall see!
TY!
We are IN. Buying.
ditto
5.06---- only 150 million for Apple V?
IN and holding.
We sold 1/2 $65... been in since $30. Like the div.
Holding.
With our money, my guess is that Bobby got out OK.
Read Investor Village EXDI Member Board for all the negatives on EXDI from Larry Marsden, LDM, and David, IPHawk.
TY, Neal holding and waiting, I guess... my worst situation in the market in years... I had followed Hempspec who had been good on all, save Sierra :(
On December 22, 2020, Kenneth Puzder resigned from his position as our Chief Financial Officer, effective immediately.
Fair--- if any of the BOD members are as crass and disgusting as Kelly I cannot wait to get out...need about .50!
BUT AJ is a good guy! And he says he does not know a "Kelly Emmerson"--- so who is this prickly piggish woman?
Meanwhile, as I have written, AJ is positive.
Sold a lot of the $100s... nice rise.
Pomerantz LLP Pursues A Derivative Action Against VirnetX Holding Corporation
SORRY!!!!!!!!!!! that link not working BUT this does:
The public version of the amended complaint can be accessed using the following link:
https://pomlaw.com/news-posts/pomerantz-llp-pursues-a-derivative-action-against-virnetx-holding-corporation
Been trading this a long time... sold most now and will buy again at 10ish.