All,
Please note the following, which was posted on the Company website on the "Falcon Issues" page today.
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Unfortunately, circumstances have become more difficult for the Company, and its options have been curtailed.
Falcon used the Preliminary Injunction (“PI”) issued by the New York Superior Court as the basis for sending letters to a number of parties. These letters were sent to at least one potential lender and to Halsa’s lead investor. We are very frustrated that this occurred. First, the information about the lender was provided confidentially to board members. Presumably, Falcon’s director nominee directly shared that information with Falcon. Second, in all cases both the Company and any relevant counterparties would have ensured compliance with the PI. We believe Falcon knew this but was making extraordinary attempts to poison funding alternatives for its benefit, regardless of the outcome on the Company and other shareholders.
At least in part due to the letter sent, Halsa withdrew its interest in working with the Company.
This is very damaging, and we are evaluating the best path forward.
