Enzolytics Inc (ENZC)

[foxi]

Yowch! Good find.

I'm still trying to figure out if ENZC has all the rights it needs to move forward with ITV-1 free-and-clear. They might win the lawsuit to get the shares back but the lawsuit claims, per Godfather's discord server:

The lawsuit alleges that Savov was promised 71,900,000 shares in ENZC in exchange for performing several obligations under an asset purchase agreement. ENZC alleges that Savov did not perform his obligations, that the shares were contingent upon his performance and that he should not receive any of the shares since he failed to perform.

ENZC also alleges that Savov agreed to additional commitments but breached his promises and as a result is not the owner of the shares. Those commitments as alleged are (verbatim):

i. Transferring to Enzyolytics of 49% ownership interest in IMMB BG, a subsidiary of IMMB;
ii. Transferring all rights belonging to IMMB under a certain Sublicense agreement;
iii. Permitting and facilitating funding from IMMB BG to Enzolytics to pay for 1) vials for use in clinical trials 2) a validation order required by the Bulgarian Drug Agency.

Is anyone else reading between the lines that:
i. Enzolytics was not transferred 49% ownership interest in IMMB;
ii. Not all rights belonging to IMMB were transferred to Enzolytics under a certain Sublicense agreement;
iii. Enzolytics was not permitted and facilitated funding from IMMB BG to pay for vials for clinical trials and the validation order from BDA?

Could this legal surprise be why Lonza wasn't on board with the joint PR? And the reason for ENZC's lack of news ever since?

Still researching the implications! (If any. It could also be a nothingburger.)