Amarantus Bioscience Holdings Inc (AMBS)

[JPetroInc]

Item 1.02 Termination of a Material Definitive Agreement

http://ih.advfn.com/p.php?pid=nmona&article=72615609

On September 30, 2016, Lonza Walkersville, Inc. (“Lonza”) informed Amarantus Bioscience Holdings, Inc. (the “Company”) that the Manufacturing Services Agreement dated as of July 14, 2015 between Lonza and the Company (the “MSA”) with respect to the manufacture of the Company’s ESS product, had been terminated by Lonza pursuant to the terms of the MSA due to lack of payment. The Company is seeking to work with Lonza to enter into a new MSA to provide for the initiation of its Phase 2 trial with the US Army, subject to funding by the Company.

Item 8.01 Other Events

On August 26th, 2016, Lonza informed the Company that it had achieved current Good Manufacturing Practices (cGMP)-readiness for the Company’s Engineered Skin Substitute Program.

In addition, the Company extended the exclusivity period of its non-binding Letter of Intent (the "LOI”)? with a commercial-stage wound-care company to form a joint venture (the "JV") for the further development of the ESS program. The exclusivity period of the LOI, has been extended for an additional 60 days to October 29, 2016.

COB Friday, October 28th, 12:00 PM midnight brings us to the doorstep of the infamous October 29th Lonza/MSA deadline. That's this Saturday folks !!!

With Josh Sason not investing 1 US Cent out of his 'tight fisted pockets' into AMBS's dream team 'glory hole' candidate ESS, and the targeted outside JV Partner being too preoccupied with taking care of 'other things' as described on 10/27 by Fred Somer IR below, the Lonza MSA could be the quintessential deal-breaker that sends AMBS into BK.




If this happens, Magna will be 1st creditor in line to collect, while retail shareholders receive nothing but mere pennies after Magna has the 'lions share' of AMBS assets, after being auctioned off as settlement on their defaulted loans.

By the way, the FED isn't going to give a defaulted OTCBB 'any money' whatsoever while being in Default and severely delinquent on their SEC filings - it simply ain't going to happen. The FED want assurances against their grant initiatives - they want collateral - and AMBS has nothing to show for itself.

sad but true....

AJMHO