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41. In March 2020, Relief's largest shareholder, Global Emerging Markets, suggested that Relief partner with NeuroRx. Relief understood that NeuroRx was interested in collaborating on clinical research in the United States to develop inhaled and intravenous aviptadil formulations for the treatment of COVID-19. Upon information and belief, Global Emerging Markets held an equity interest in NeuroRx at the time in the form of a warrant to purchase shares of NeuroRx at a pre-specified price if the company successfully executed a
public listing of its securities.
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So GEM put forward NeuroRx to Relief.
I imagine that not only they will be part of the solution, in the background, but also that they were fully informed of the lawsuit and support it. Their goal is "money", they have continually and consistently supported Relief through multiple rounds of financing, as recently as last month, which means they believe in the business model of Relief, they have been in full support at every round of what Relief is building, and they are of course satisfied that they will be able to cash in eventually.
GEM are one third of Relief, and only 3% of NRx, so you can be sure of which side they are with. When someone owns 1/3rd of your company, you definitely talk to them before starting a lawsuit against your number 1 contractor, so it can safely be assumed that GEM are in support of it.
It is interesting how this will play out on the NRx side because every single consequence of allowing the lawsuit to proceed is negative, every one : if you cannot produce receipts and continually refuse an audit that could bring you in more money, there are problems that probably can go all the way to Internal Revenue; then there are those who invested in the SPAC; post SPAC investors; there are the Vanguard, Morgan Stanley, Northern Trust; medical licence ?; loss of revenue from everything Aviptadil. I could go on - every consequence of allowing the suit to proceed is negative for NRx, and may even be terminal financially.
So ..... we watch !
~ IlkaS, Y@h00 RLFTF finance conversations
