Humanigen Inc (fka HGENQ)

[VanGan]

We have different interpretations of the APA. I do not see how it represents a roadmap out of bankruptcy.

Taran acquired lenz, ifab, all the related IP, and the Australian subsidiary. The APA says that Taran did not acquire any equity in HGENQ or any other subsidiary.

Other than the $2m upfront for those assets, the only thing Taran owes HGENQ is milestone payments.

1) $3m if lenz gets approved for CMML in the US
2) $1m each fro the next 3 indications that lenz is approved in the US (as long as those three approvals happen within 7 years of closing)
3) $1 m each for any 1st approval in the UK, Germany, France, Italy, and Spain (as long as those approvals happen within 5 years)

Other than that, Taran has no obligations to HGENQ. They own the primary asset, lenz. They can do whatever they want. They don't need HGEN equity to go public. They can IPO on their own or reverse merge with another company. All they owe HGENQ is the milestone payments.

Cameron was able to weasel his way out of HGEN's debts. Screwed the shareholders in the process.