Monday, December 06, 2021 11:02:02 AM
You are wrong. Material contracts that are still effective must be included in the Form 10-K exhibit index every year. Once again, I will repost the link to the securities regulation that provides the requirement. Regulation Requiring "Republishing" of Material Contracts Every Year
You can refuse to read the link, and talk about how you don't need to read it...whatever. Personally, I find that to be very intellectually dishonest. The regulation is right there in Item 601(b)(10). Moreover, it is a fundamental concept of disclosure principals that nobody in the industry questions at all. There is zero debate about whether material contracts that are still effective need to be "republished" every year in the Form 10-K exhibit index. Your position is ludicrous and has zero support whatsoever. It's entirely made up by you. I have no idea why you continue to dig your heels in on this topic. If you really do have a law degree, you have an ethical obligation not to mislead people on the law. You have over 100 followers on this website and over 16,000 posts, most of which I assume are on the NWBO board. It is wrong for you to misstate the law, repeatedly, and refuse to even read the rule that explains why you are wrong. My "trying to hard," is aimed at what I consider to be very inappropriate behavior. Even though you are not providing legal advice, you have people that trust what you say partly based on your alleged professional background that you refer to fairly often ("Trust me, I'm a lawyer!"). I will not watch while you lead people astray on this topic. I may not be able to keep up with all your posts...but I'm going to continue to call you out because you are wrong and it is an important topic.
The first sentence is an outright lie as it relates to securities rules and regulations. You have no experience as a securities attorney. As evidenced by your continuous statements that material contracts don't have to be "republished" every year AND another of your statements that a public company can choose to file every single contract that they enter into as a material contract. No person with any basic understanding of securities rules and regulations could even dream up such nonsense. However, I do think I've figured out your legal background...you are either a procurement contract attorney or you work for one in a contracts administrator role. As for your statement that you should leave this subject to people that know what they are talking about...perhaps it is time to take your own advice?
The Cognate contract termination provision said the contract would terminate on the later of January 17, 2021 or 5 years after the first commercial sale of DCVAX-L pursuant to a BLA or market authorization. Here's the contract, previously filed as an exhibit to the 2020 Form 10-K (and every other Form 10-K since 2011): DCVAX-L Manufacturing and Services Agreement
Again, there are 3 options for what has happened: (i) the contract is still effective, but the company no longer considers it material; (ii) the contract is still effective, but the company failed to include the contract on its exhibit list as required by securities rules and regulations; (iii) either the company or Cognate/CRL terminated the contract and the company failed to disclose the termination, as required by Form 8-K.
That's it. Those are the options. Again, someone should call DI and ask him what the status of the contract is. It should take him 2 seconds to answer.
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