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Tuesday, June 30, 2020 6:11:00 PM
Mass production will not start until FORW lends the company money. If anyone has watched Sharktank, they will likely understand the process. A doctor and product engineering graduate came up with an idea and went tried to get the product to market without any capital. A connector (Sapi) got Ligand and FORW together for a mutually beneficial purchase.
Picture the sharks listening to the ventilator deal to understand how things are progressing. The Doctor/engineer makes his pitch. Mr Wonderful sees dollar signs and offers big bucks for 80% ownership - because he knows the Doctor is desperate for cash. Cuban laughs. He offers $20 milly for 60% of the business. Sharp, who guest stars as the resident public company expert, says I want 25% of the business and will lend you 5 milly for your operating costs, but I also want 20% of every ventilator I sell. Cuban and Wonderful bow down to Sharp's deal making and tell the fine doctor to take the deal.
Mr Wonderful and Cuban likely didn't get a chance at funding LifeAir, but if they did, they likely wouldn't have gone this easy on Sharp as they likely would have wanted a piece of the action.
When does the first ventilator sell? Summer of 2020 is Sharp's best guess. What is he waiting for? REG A will allow them to produce and sell in other countries. FDA approval for US sales.
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