Humanigen Inc (HGENQ)

[US-JUSTICE]

just look at many of the companies, 100% funded by investor money. no profit operations. and you wonder why they are bankrupt and shut down. and shares are worthless. shares are worth nothing if the business is out of business and keeps losing money and assets are less than liabilities. in this case the fake creditors want their money and thinks they are entitled to 7 million for breach of contract or cancellation of contract or $3 million because FDA didn't approve the FDA application. these shareholders blame the CEO and know the risk. Was it a pump and dump in 2022, ceo mislead investors and they bought the shares, they know the risk, if FDA doesn't approve the drug, they owe millions to drug manufacturing companies and clinics who did all the work.
the company would not have needed to declare chapter 11 if there was no FAKE creditor claims of 40 million. these fake creditors won't get a dime yet force bankruptcy.
if the company doesn't go bankrupt, they may get some money.
as of now, the fake creditors not only get no payment, they owe their lawyers for legal fees for making the lawsuits. the fake creditor commitee is being billed $40,000/month and who is paying for it not whhgenq. there is no money to pay
why waste money on legal fees to sue someone, when there is zero chance of getting any payment even if Judge orders the fine. you cannot collect the fine or lawsuit. even if you win.
they probably collect on the $5 million INSURANCE fraud. which is going to the company to pay legal fees as insurance company has the money to pay. hgenq has no reserve to pay anyone, it's essentially chapter 7 with the trustee of dissolution.