No need for deflection. My response was to YOUR stated belief: "The term sheet is alive and well."
Because that's all it is...a belief...there is no factual support for it. Just as there is no factual support for your belief that "considerably more than two months" is "a substantially conclusive amount of time".
Neither of us knows the terms of the non-binding term sheet....whether it has an expiration date, whether either party can opt out of it at will or whether any consideration was provided by either party to make or maintain the agreement.
Here is what we DO know:
In September of last year the 10-K reported that "The Company signed a non-binding term sheet in August 2018 with a global pharmaceutical company for the licensing/rights to Brilacidin for treating oral mucositis and inflammatory bowel diseases. Initial payments, milestone payments and royalties are being negotiated in accordance with the non-binding term sheet."
We haven't heard anything further about that non-binding term sheet, have we? Yet because a new non-binding term sheet to develop and commercialize locally-administered Brilacidin (e.g., foam, enema, gel), on a worldwide basis, for the treatment of Ulcerative Proctitis/Ulcerative Proctosigmoiditis that includes a Right of First Refusal for rights to Brilacidin for the treatment of more extensive forms of Inflammatory Bowel Disease, such as Ulcerative Colitis and Crohn’s Disease, and a Right of First Negotiation for rights to Brilacidin in other Gastrointestinal (GI) indications has been entered into that DOES NOT involve licensing rights to Brilacidin for treating oral mucositis we KNOW that that August 2018 term sheet must be non-operational (terminated, replaced, expired...pick one). It can no longer exist.
Everyone knows that, or should (in the old days some concerned shareholder would step up and ask), yet the Company hasn't said so.
That experience tells us one thing...that the term sheet publicized on May 16th could expire (or could have expired) without a peep from the Company because they have done it before. All I'm suggesting is that you keep that in mind the next time you're tempted to announce that "The term sheet is alive and well" without having any way of knowing whether that is true or not.
On the other hand, we know that this is not true....
"the term sheet is officially dead"
Apparently the Company prefers to avoid making such things official.
But can it core A apple?
Yes Ralph, of course it can core A apple.
