Amarantus Bioscience Holdings Inc (AMBS)

[JPetroInc]

AMBS signed a Registration Rights Agreement on 4/14/16 which obligates AMBS to file a registration statement with the SEC on Form S-1 by 4/24/16. They've blown past this deadline.

Another bigger deadline was due today. They agreed to file the 10-K on or before COB 4/29.

Also, today marks yet another deadline wherein John Snyder, Esq. gave Amarantus BOD till 4/29 to respond to his pre-suit demand as per below:

"Please be advised that pursuant to Rule 23.1 of the Nevada Rules of Civil Procedure, Ms. Friedman hereby makes the following pre-suit demand upon the Board of Directors of AMBS. In particular, demand is made that:

1) The board of directors shall appoint a special committee (the “Special Committee”), consisting of independent directors, which shall be responsible for determining, with the assistance of qualified independent counsel, whether its current corporate counsel, Sichenzia, is ethically permitted to advise AMBS with respect to its potential claims against Magna, whose principals are also represented by Sichenzia. The Special Committee shall also determine whether Sichenzia has heretofore properly advised AMBS of its full legal options with respect to its dealings with Magna and other lenders / underwriters, and shall determine whether it is in the best interest of AMBS to continue being represented by Sichenzia.

2) The Special Committee shall determine whether Magna has violated any state or Federal securities law in connection with its transactions with AMBS.

3) The Special Committee shall engage qualified independent litigation counsel to prepare a lawsuit on behalf of AMBS against Magna and/or its affiliates and any other lender who has participated in unlawful underwriting of AMBS stock for the purpose of (a) voiding any executory contracts; (b) obtaining a damages award on behalf of the company; and (c) pursuing legal malpractice claims against Sichenzia.

4) The Special Committee shall report any evidence of securities violations to the U.S. Securities and Exchange Commission.

Ms. Friedman requests that the Board of Directors of AMBS respond to this pre-suit demand no later than April 29, 2016. The Board of Directors is hereby on notice that AMBS’s remedies may be subject to a statute of limitations, and therefore if AMBS’s board delays further in obtaining independent legal advice regarding its rights and remedies as against Magna and other underwriters, AMBS may lose its legal rights with the passage of time."

AJMHO