Nordicus Partners Corp (NORD)

[greasemonkeyshoes]

From the prem14a........
https://ih.advfn.com/stock-market/USOTC/advansource-biomaterials-qb-ASNB/stock-news/81375071/proxy-statement-merger-or-acquistion-preliminary#PRE14A1219_ADVANSOURCEBIO_HTM_B_027

Key points of my concern/answers-
Expected Timing of the Asset Sale Transaction:
We expect to complete the Asset Sale Transaction in the first quarter of 2020, promptly following the special meeting, if the Asset Sale Proposal is approved by our stockholders and the various other conditions to closing are satisfied or waived.

Use of Proceeds and Future Operations (see page 34):
The Company expects that a portion of the proceeds from the consummation of the Asset Sale Transaction will be used to satisfy outstanding obligations, liabilities and expenses of the Company. It is further anticipated that a portion of the funds will be retained to maintain the Company as a reporting shell company and fulfill any future obligations.
It is expected that the Board will consider alternatives regarding the use of the remaining proceeds from the consummation of the Asset Sale Transaction after the satisfaction of such obligations, expenses and liabilities and the future of the Company, including, without limitation, payment of a stockholder dividend of the remaining proceeds.

From Q/A:
Q: What will happen to the Company after the Asset Sale Transaction and will the Company distribute or dividend, or make any other payment of, any of the proceeds from the Asset Sale Transaction to me?

A: It is the intention of the Company, once all outstanding liabilities and obligations have been met and an appropriate reserve established to remain a reporting shell company, to issue a dividend to our stockholders with the remaining funds.