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Monday, March 21, 2022 12:22:57 AM
Other than that, I’d disagree with the minimization of the second milestone step challenge. It may or may not be a great machine that can pass with flying colors the second milestone below:
(ii)Twenty-five percent (25%) of the Rights shall vest upon the demonstration to the Company’s reasonable satisfaction that the EDEN system can replicate the Company’s current DCVax-L manufacturing process as verified by yield, phenotype and functional assay data.
Maybe you think that’s easy, but I’d say it’s only easy if it works given those parameters.
I just don’t get why they won’t say they’ve met the second milestone. I think your 10k analysis of the payment terms seems correct, but why not just say it? Things aren’t always what they seem with this company, and the small task of being blunt and avoiding contradiction seems to be the last thing on their mind.
(BYW, I hope you are correct, but so many times numbers seem to add up to one thing, when they really were meant for another.)
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