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Thursday, October 22, 2020 9:52:44 AM
ALL LIGHTS GREEN ACROSS THE BOARD!!!
The Company has also procured a commitment for funding of $500,000.00 to be used for implementation of the planned combined operations and the initial steps of the merged business strategy of creating successful therapeutics against infectious diseases thereby increasing the value of the Company's technology and the value of the Company through the combination the Enzolytics ITV-1 peptide in conjunction with BioClonetics' anti-HIV monoclonal antibodies. As part of this initial $500,000.00 funding, the Company and certain of its current convertible debt holders have agreed to a standstill on the issuance of any additional shares from conversions of debt.
The entities anticipate a decision in the near future on pending applications filed with the National Institute of Health (NIH) and the National Science Foundation (NSF) for further development of its anti-HIV monoclonal antibodies and proposed production of anti-SARS-CoV-2 (CoronaVirus) antibodies.
Enzolytics' application with OTC Markets was approved and ENZC has begun the process of bringing its filings current having filed the September 30, 2018 report.
In addition, management of ENZC is scheduling a meeting with a GMP manufacturer anticipated to take place before the end of the month.
"We are moving forward on the combination of our two companies, including the intellectual property owned by each, and are finalizing the necessary documents to bring the transaction to a successful closure in the very near future" said Charles Cotropia CEO of ENZC.
Harry Zhabilov CSO stated, "It has long been a dream of mine to be able to partner with an individual and management team such as BioClonetics to realize the full value of the Company's patented technology for ENZC and its shareholders."
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