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Monday, April 12, 2021 6:14:54 PM
The investment representing 49% ownership of IMMB BG is reflected in the Investment in
Subsidiaries on the Holding Company balance sheet. The investment is carried at cost. With the
cancelation in February 2021 of the Sub-License agreement and termination of all other contractual
ties to IMMB BG, the Company will begin reviewing the value of the investment at the end of
future reporting periods and write it down to Market value, which may be zero as IMMB BG
appears to have no operations, Intellectual Property or other assets of value. IMMB BG’s sublicense
and distribution agreement from the Company has been cancelled. IMMB BG has never
had any rights to the Intellectual Property or Manufacturing rights to the treatment, only a
distribution and licensing agreement for certain territories. The President of IMMB BG is not and
has never been an officer of the Company or IMMB from which the ITV-1 treatment and 49%
ownership of IMMB BG was acquired.
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