InventaBioTech Inc. (fka INVB)

[stockphoto]

More public information links:


Court records search for Bexar County, Texas:

https://search.bexar.org/Home/Advanced

Type in "Cytobioscience" or "Inventabiotech" in the "Business" search box.
.
.
.

SEC filings are conveniently listed here:

https://www.otcmarkets.com/stock/INVB/disclosure

It has been nearly two years since a 10-Q has been filed.
.
.
.

The list of active economic development grants issued by the City of San Antonio is posted here:

https://www.sanantonio.gov/EDD/ActiveIncentiveAgreements

Click on the "view" button to see the list.
.
.
.

The city issued a grant to Cytocentrics in 2015:

https://therivardreport.com/cytocentrics-wins-1-million-incentive-and-warm-welcome-to-san-antonio/

But, the $1 million grant issued to Cytocentrics by the city is no longer on the list.
.
.
.

Directly from the most recent 10-Q (Sept 30, 2018):

"Economic Development Grant from the City of San Antonio

On September 11, 2015, the Company entered into an economic development agreement with the City of San Antonio (“City”) for $1,000 subject to the Company’s commitment to invest significantly in San Antonio with respect to facilities and employment. Accordingly, the City made the first installment of $500 on August 13, 2015. On March 29, 2016, the Company returned $100 of the $500 leaving a remaining balance of $400.

On April 9, 2018, the Company and the City terminated by mutual consent, the economic development agreement. The Company, as part of the termination, agreed to return the $400 over a twenty-four-month period with first payment due within 60 days or September 8, 2018. The amount has been accrued and is a component of accounts payable (short-term portion) and other long-term liability (long-term portion) as of September 30, 2018. The Company is currently in default with this agreement, and accordingly, is in negotiation with the City to extend the first repayment installment. However, the City is working with the Company to extend and renegotiate the payment agreement."


It has not been stated publicly whether the $400,000 owed to the city has been repaid or not - an updated 10-Q has not been filed with the SEC and the city does not appear to comment on the disposition of terminated grants.