This section all but guarantees we have a positive Phase III results if we did not they would not have done this exchange with Mr Fife ...they did this agreement so the company was in the clear and they can move forward with Crofelemer... Its going to be a BONANZA PEOPLE...
Page 34 of the 8-K.... This is the page that will refute all of the Clowns who come on and tell people that the company converted all of this debt into COMMON SHARES and that Fife will be diluting those common shares until this is back to 05 or lower.... and the answer to that is NO FUCKING WAY. BECAUSE ALL OF THE COMMONS ARE LOCKED UP... Read and you will understand why... the company is virtually Debt free for the next Year.
7. Lock-Up. Investor hereby agrees that, (i) for the duration of period from the date of this Agreement until the twelve-month anniversary of
the Closing (the “Lock-Up Period for Exchange Shares”), Investor will not, without the prior approval of the Company, offer, pledge, sell, contract to
sell, sell any option or contract to purchase, lend, transfer or otherwise dispose of any Exchange Shares (collectively, the “Lock-Up Exchange Shares”),
and (ii) for the duration of period from the date of this Agreement until the six-month anniversary of the Closing (the “Lock-Up Period for Equity
Securities”), Investor will not, without the prior approval of the Company, offer, pledge, sell, contract to sell, sell any option or contract to purchase, lend,
transfer or otherwise dispose of any shares (other than the Exchange Shares) or any other equity security of the Company which Investor owns as of the
date of this Agreement or comes to own after the date of this Agreement (collectively, the “Lock-Up Equity Securities”). Notwithstanding the foregoing
restrictions on transfer, Investor may, at any time and from time to time, transfer any Lock-Up Exchange Shares during the Lock-Up Period for Exchange
Shares, and/or transfer any Lock-Up Equity Securities during the Lock-Up Period for Equity Securities (i) as bona fide gifts or transfers by will or
intestacy, (ii) to any trust for the direct or indirect benefit of Investor or the immediate family of Investor, provided that any such transfer shall not involve a
disposition for value, (iii) to a partnership which is the general partner of a partnership of which Investor is a general partner, provided, that, in the case of
any gift or transfer described in clauses (i), (ii) or (iii), each transferee agrees in writing to be bound by the terms and conditions contained herein in the
same manner as such terms and conditions apply to the undersigned, absent such agreement to be bound said transfer will be deemed null and void ab
initio. For purposes hereof, “immediate family” means Investor’s spouse, child or parent. During the Lock-Up Period for Exchange Shares and Lock-Up
Period Equity Securities, Investor shall retain all rights of ownership in the Lock-Up Exchange Shares and Lock-Up Equity Securities, respectively,
including, without limitation, voting rights and the right to receive any dividends that may be declared in respect thereof. The Company is hereby
authorized and required to disclose the existence of this Agreement to American Stock Transfer and Trust Company LLC, the Company’s transfer agent
(the “Transfer Agent”). The Company and the Transfer Agent are hereby authorized and required to decline to make any transfer of the shares if such
transfer would constitute a violation or breach of this Agreement.
Investor understands that, during the Lock-Up Period for Exchange Shares and Lock-Up Period for Equity Securities, the certificates or
other instruments representing the Lock-Up Exchange Shares and Lock-Up Equity Securities, respectively, including any applicable balance account at the
Transfer Agent, shall bear a legend in substantially the following form (and a stop-transfer order may be placed against transfer of such Exchange Shares):
THESE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO A LOCKUP AND MAY NO
