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No, Johnny, he cannot. His bankruptcy trustee can so if there were any truth to this it would be great news for Dan’s many creditors.
Funnily enough, though, I think the BS dial is turned all the way to 11 on this story.
It appears the final awards from both cases will only be known by the end of February.
Great news indeed, if true. Does this mean the decision has been delivered in the arbitration?
Thanks for the updates on the litigation and arbitration, Doc (and director).
So this is going to be the first of his companies that Dan Montano won’t drive to ruin? Sounds a winner. All aboard!
The name change is irrelevant to ownership. You don’t need to concern yourself with anything.
I guess the IPO must already have happened as CVBT/VT must be a publicly traded company to have an active board here. It must be true: investorshub’s administrator said so.
Walhall was right! CVBT is no more!
In fact, it’s now Venturis Therapeutics, Inc . There’s a new name and a new dawn. I think this year may turn out to be rather special for the company.
That's my recollection.
JohnnyB, your post is good news but it has left me confused. I know we had the crony litigation to contend with and also an arbitration against Montano and Jacobs. From someone's earlier posting I understood the arbitration was forecast to reach a conclusion in November and the crony litigation had a hearing date on 13 December. Is it the other way round?
If you know what's actually going on and can spare the time to sum it up in just a few words for the rest of us, that would be very helpful. I'm not clear what we are now awaiting.
Any word about the litigation hearing? I believe it was scheduled for yesterday if it wasn't postponed again.
Donk, I stand to be corrected by anyone who knows better but I understood from a previous post that CVBT is taking the fight to Dan’s minions and surrogates on Thursday the 19th or thereabouts. If correct, there should be some update from someone in the know by the weekend. I suspect it’s more about sending a message than genuinely recovering damages but then, what do I know?
The outcome of litigation is always uncertain. Who knows what will happen next week? Given CVBT's history with litigation we may as well expect the unexpected. Even though we have very good legal representation these days, what happens on the day and how the judge reacts are unpredictable.
What seems to be clear, although certain posters here choose to deny it, is that the company has raised money through private placements but the amount has not been made public. I have no idea how much it may be but then I haven't asked. The board has also been discussing pre-listing financing with potential lenders which shareholders will hope has a fruitful outcome.
There have been no public releases of information to this effect but those of us who have had any communications with or from the board know it to be true. Those posters who assume anything said by our Chairman or board members must be presumed to be untrue unless supported by public filings can only be drawing on their experience of our former Chairman. Fortunately, while all human beings have flaws, our current Chairman and our former Chairman do not appear to be flawed in the same way.
To this Cassandra, the main issue which the company faces is of the macro variety. When the board finally decides that its pre-listing requirements have been satisfied and we are good to go, what state is the market going to be in? We need to relist before the Everything Bubble bursts because once that happens it will be too late.
I have no idea when that will happen but it appears to be getting much closer and just because the President is seeking re-election next year doesn't mean it won't happen sometime before the election. The longer we wait to relist, the greater the risk. When I read about a possible Q2 listing it seems to me that there are too many incurable optimists around. What will be will be and it is unlikely to be influenced by my thoughts or postings so I am just venting here.
You may be correct. I don't recall the precise words.
One thing which was specifically mentioned is that the company will, for the time being, continue to raise capital at $3 per share. There wasn't any mention of how much has been raised so far but it was confirmed that capital has been raised at that price despite the uninformed opinions of some doubters on this messageboard.
No bad news and no good news. The Board made it clear that it is acting on advice and not disclosing anything more than it needs to at this time in order to protect shareholder value for a forthcoming liquidity event .
Of course, there will be some on this messageboard who, perhaps because of their own characters, will assume that this was done for the purpose of obfuscation and hiding of dark secrets and bad news. Others will accept it at face value and be grateful that when its investment bank adviser suggests it should keep its cards close to the chest for the time being, the Board doesn't foolishly ignore that.
The board is unlikely to answer the 3 questions. This is a private company now, courtesy of our former Chairman. I think the board will take full advantage of that to keep information under wraps for the time being. It's not that Dan is Voldemort but I'm pretty sure the board will want to keep its cards close to its chest as it prepares for its next move. I suspect the Annual Meeting will be less than exciting in consequence but we shall soon see.
Yes, it's a bit disappointing that the new website is up and running and really has nothing new disclosed on it but that will probably and dramatically change when the board thinks the timing is right. That news will only really have value when we are in a position to trade our shares. We're not there yet but I hope the day is coming.
I think shareholders can rest assured that the board will have been prepared by the company’s lawyers for the likelihood of an appeal. In fact, Walhall’s link to the court dockets shows that the plaintiffs had already tried unsuccessfully to get the case re-opened and reheard so the filing of an appeal was the obvious next step.
I have no basis to form an opinion as to the likelihood of a successful appeal and I have no knowledge of the likely timing. However, the board was very confident that the underlying case had no merits and it was vindicated by the decision. I imagine the board will be very confident at this stage, too.
Good question , Lazy B. I predict some kind soul will re-post the links for us in a few days. Call me crazy, but I just have that feeling.
Big deal. If I were he I would step down before the company goes public again. He’s no spring chicken and he has other business interests. Being a director of a public company is a highly onerous business unless you treat the responsibilities like a vaudeville clown. Does that make anyone else think of Desperate Dan?
Mike Flaa will remain a substantial shareholder and if he feels confident to leave the decisions in the hands of others then why should we feel any less confident? Thanks, Mike and good luck with whatever else you are doing.
I will not be at all surprised if other directors choose to step down and some new faces, but experienced biotech hands, replace them. It will be additional good news.
I received proxy forms from TDAmeritrade by email.
Annual General Meeting.
AGM on 21 May! Must be some good news a-comin’ if the AGM has been advanced by 2 months. Looks like the board is getting admin issues out of the way in preparation for.....what? IPO? Wouldn’t that be great!
I guess imprisonment is not a likely outcome unless there have been federal crimes committed as the case is fundamentally civil not criminal. It’s far more likely that the defendants will be bankrupted when they lose or in the process of defending increasingly expensive litigation.
Of course, if CVBT really hasn’t raised any money then the defendants can just sit back and hope that the company doesn’t have the means to pursue this. Why do I suddenly have a vision of Homer Simpson slapping his forehead and exclaiming “D’OH!”?
Thanks for posting, Donkey. Walhall does a wonderful job reminding us to keep our expectations in check as it’s all too easy to get carried away in the afterglow of ousting Dan Montano. Shareholders could have benefited from his forensic skills when Dan Montano was driving the company to ruination. It’s a shame Walhall wasn’t on his case. Perhaps Walhall can share his views on the ethics and likely consequences of our former Chairman’s activities as they seem potentially more harmful to us than anything of which the current Chairman may stand accused?
As you say, Walhall, the company itself has made no announcement so what exactly is your point? The company has not said anything which is untrue and, so far as concerns remarks posted by others on this site, the company is under no obligation whatsoever to comment on their accuracy or otherwise. You seem to be upset that they have not commented. I'm rather glad that they have more important things to do than monitor posts on this board.
I'm sure your frustration is widely shared but I give the Board the benefit of the doubt. I guess they wanted the new website up and running before they decided to post some significant news updates. Nothing's been forthcoming yet but timing may be everything. It's likely that a lot has been going on and we have to remember that the company has next to no full time staff. It's not as if there is a Director of Communications whose job it is to push information out to investors or the market.
The AGM should be just over 3 months away. Let's see if anything emerges before then. If not, we'll have the ability to ask questions.
Thanks for that, Lazy B. I'm no scientist but it seems to be a complementary approach to ours and if it helps patients recover or recover faster that's wonderful. I don't think it makes what CVBT is doing any less necessary or potentially profitable.
However, we do have to get on with things so I think 2019 will be a significant year for us in terms of what the company either manages or does not manage to achieve. We're already invested so we may as well be optimistic. This company was a zombie. It's definitely got life now even though it still has to prove it can survive and thrive. I'm looking forward to seeing some news published.
Time and tide wait for no man, Lazy B.
Whose therapy or drug is this?
It's simple. Without ongoing investment there would be no company and there would be no future. Investors want shares in return. What is the company worth? That's the question. I don't know to what extent our shareholdings have been diluted over time but whether you had 0.5% of the issued shares 5 years ago and only 0.25% now is not what matters. 5 years ago, the company was worthless! Now, it has a future and you may actually see a return. Salvation came at a price but your 0.25% has value where your 0.5% did not.
Sorry, where is the storm?
Don't you think that maybe you are creating a storm in a teacup? There's nothing to be anxious about here. Mike Flaa is still a director and shareholder.
Whatever happens in the Tauren case is unlikely to have any impact on CVBT. In any event, if there were no prospect of a settlement the plaintiffs would have insisted upon the trial proceeding this month.
I hope the real shareholders here can tell when someone - an ex-Chairman perhaps - is sowing the seeds of Fear, Uncertainty and Doubt. That’s the only game left for him to play.
Just keep your eye on the company's website. That's where the real information will appear.
Hear, hear, Lazy B. Let's see what emerges in the next 2 or 3 months.
And, the IP allegedly stolen from CVBT for Zhittya is a possible motive of course. Let’s see what the court case against Mrs Montano and Zhittya brings. Will it be exoneration? Ultimately it probably doesn’t matter. Montano’s main problem is that Zhittya will be run into the ground just as with CVBT. After all, he will yet again be in charge.
Calm down, Mr O’Brien. There is absolutely no doubt that the vindictive bankrupt has been trying to sabotage the company from without via his wife funding frivolous litigation just as you have with your constant stream of negative postings. It’s obviously very personal for you. I cannot imagine why unless you are either Montano or his kin.
What's the relevance of Grant Gordon not having a high school diploma, if true? George W Bush graduated from Yale and Harvard Business School. Doesn't that put the value of such qualifications in perspective?
I guess we’ll just need to wait and see what the board announces.
What I find more fascinating though, Walhall, is your level of expertise on clinical trials. You don’t have prior experience in this area do you, perhaps as a founder of this company? Do tell.
Excellent! Your downside limit is already known. The possible upside is limitless.
As you say, best of luck to us all.