CardioVascular BioTherapeutics (fka CVBT)

[walhall]

NEWS ANALYSIS: The Prevail "deal"

In my opinion, the Prevail InfoWorks / Prevail Partners "deal" does the opposite of what Venturis Therapeutics (formerly CVBT) actually believes. Cutting through the nonsense, it appears that Venturis is buying some sort of software from Prevail, with some vague promise of future investment of a 7-figure amount after X, Y, and Z happen first (when Venturis needs an 8-figure or 9-figure investment) and if Venturis can raise other money first. So basically, if Venturis needs say $30 million (and they certainly need much more than that), Prevail will contribute the last million. Wowie zowie!!!!! Isn't that exciting?

What's really funny is that just in April 2021, Venturis's longtime legal counsel, Dentons, quit representing Venturis because Dentons was owed over $200,000 and stated in a sworn statement to the court that Venturis had no assets or income from which to repay the monies owed. That certainly sounds encouraging.

How much would anyone like to bet that Prevail is providing this software largely on credit, or with primarily backloaded cash costs and very little cash upfront?

I believe this whole nonsense deal instead telegraphs how weak and desperate Venturis Therapeutics actually is. That's not news to anyone that's been paying attention. I believe no one is going to invest in an insolvent, illiquid company where the CEO and controlling shareholder has been more than once accused of fraud, and who was accused by the U.S. government of stealing $14 million from his previous company (and those charges were quietly settled--and we all know what that means because if Mr. Wallen had actually been exonerated, we would be hearing that loud and clear). With just a modicum of due diligence, I believe anyone can see that Venturis Therapeutics is radioactive. Especially since the former CEO, Dan Montano, has won a $1MM+ judgment against the company and is in the process of collecting it.

The law is coming, and I believe Venturis Therapeutics will be liquidated by year-end. If the rumors I'm hearing are true, Venturis is one court action away from this happening. The actual judgment has already been declared against Venturis and affirmed.

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