GET
Thanks for bringing this to my attention that this was mentioned in a 8k, which I never saw or knew about until you posted it, this can be said for other investors as well whom did not know about the GTHP - Shenghou fee split agreement. So I hereby immediately RETRACT MY COMMENT OF NON DISCLOSURE.
THE ITEM 13 YOU QUOTED:
13. SUBSEQUENT EVENTS
On February 17, 2024, the Company entered into a fourth amendment to the agreement with SMI. Under the terms of the amended agreement, SMI also agreed to pay the Company $531,100 on or prior to March 15, 2024. MAKES IT SOUND LIKE GTHP GETS ALL THESE FESS AND DOES NOT REFERENCE THAT THESE FEES ARE TO BE SHARED WITH SHENGHOU LLC , so perhaps this is misleading by not referencing again a fee spliting arrangement that most investors like yourself were unaware of.
What is MOST INTERESTING about your posting referencing the fee splitting agreement is: GTHP (disinterested Directors "effectively waived the conflict-of-interest provisions of the Company’s code of ethics." "On January 15, 2017, each of the disinterested directors on the Company’s Board of Directors, having considered the interests of Dr. Faupel and Mr. Blumberg and having approved the agreement, effectively waived the conflict-of-interest provisions of the Company’s code of ethics." THIS LOOKS LIKE A RED FLAG TO ME
I will again say that Shenghou LLC the original License Agreement Holder was a sham transaction, as Shenghou did not have the expertise to fulfill its obligation under the same, and perhaps it is a self directed dealing of GTHP assets - Splitting GTHP fees to insiders Faupel and Blumberg who are owners in Shenghou., LLC. and perhaps GTHP effectively waived its conflict of interests code to allow Faupel and Blumberg to receive compensation at the expense of the shareholders of GTHP, without having to disclose this as compensation to these two insiders at GTHP. I would call this turning a blind eye.
