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Tuesday, February 10, 2009 1:22:42 PM
Also, the intellectual property is, in my opinion, worth considerably more than what the debt (primarily to Dutchess, incidentally,) is.
Not a chance. And here's why.
You have already talked to Gomez and have reported that he told you who was interested in buying up the various parts. He also told you what parts were being discussed. I don't know what he told you, but I will bet you dollars to donuts that there was not any pharmaceutical companies biding, not were there any patent rights involved. The licensing of the silly Ancestry/Witness?Doggie junk is clearly not in the same league as valuable intellectual property would be [If it existed.]
The fact that (as you have reported] the only serious offers in play do not include intellectual property is more than enough evidence to show that there is nothing of value there.
If it had serious value, it would be at the top of the list of marketable assets. If it was valuable Frudakis, Gabriel and Gomez would have arranged private financing to take the company private and maintained control of it. If it was valuable Frudakis would have negotiated some kind of merger with an interested partner in order to keep control of it and maintain his ability to benefit from it.
No way that anyone who 'knows' the value of the intellectual property, walks away from it if he thinks that it is valuable. NO way.
regards,
frog
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