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Friday, February 07, 2020 7:28:28 AM
" On January 16, 2020, Ozop Surgical Corp. (the “Company”) received via email from Spinal Resources, Inc (“SRI”) notice that the Exclusive Licensing Agreement dated August 23, 2019, between SRI and the Company has been revoked, as the Company did not cure the default as reported in the Current Form 8-K filed January 10, 2020.
Additionally, the Company had not cured the payment default of the Company’s Promissory Note (the “Note”), issued to SRI, dated August 26, 2019, within the ten- day cure period provided for in the Note, and SRI has accelerated the remining note balance (approximately $600,000) as immediately due."
If the company renegotiate the agreement and payment terms, IMO it is possible to get this back on the table.
End of the day, its free money to Spinal Resources, inc. Why would they say no?
jmo
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