Medizone Intl. (fka MZEIQ)

[Whatisvalue]

Eli, it would appear to me that the Marshalls just locked up the patents for $200K. Shannon will spend the next three months in the lab and there will be no additional FDA action. The debtor will default and Marshalls will claim the collateral.

The appearance is that Dr. Shannon has thrown in with the devil. What he is able to do in the lab over 3 months so as to advance the science sufficent to make application with the FDA is unknown. Prior to the Marshall petition, the company was anticipating making a filing with the FDA by the end of Q3. That still leaves months for review, post the scheduled period of the $200K loan budget. It's clear the Bankruptcy Trustee has no clue about the FDA timeline and as such, the terms of the loan will essentially guarantee Marshalls get the patents.

As you likely saw in the Docket 29, shareholders aren't even to be given notice of these actions as the value of the assets has been determined to be insufficient to result in them receiving anything.