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deal guy

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deal guy

Re: KART4445 post# 64950

Thursday, 12/12/2019 2:41:15 PM

Thursday, December 12, 2019 2:41:15 PM

Post# of 68548
Yes, ECOS would need to be current with the SEC and in good standing under Nevada law for the insiders (Kwak, Siegel) to sell the company or its interest in BioArt to LRS. LRS lawyers would want a good standing certificate in a sale transaction involving the company or BioArt and both transactions would require a shareholder vote (the insiders control the vote through their preferred shares).

Of course, they could become current for about $100k (the cost of the audits for the last two years and the Nevada Secretary of State fees).
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