Innovex Inc (fka INVX)

[levelnever]

The other thing I'm trying to track down is I believe this was part of their restructuring plan (from a PR in January before Thailand BK filing when Randy Acres was appointed CEO), a partnership with Standard Chartered. If the June restructuring was approved as Cornick's buys seem to indicate then I would expect they may be working on this at the moment.

The letter states the interest of SCB in purchasing all of the Company’s outstanding bank

debt, approximately $55 million, from Bank of Ayudhya Public Company Limited and TMB Bank

Public Company Limited at a discount from the total value outstanding. Additionally, SCB has

indicated its interest in injecting up to $10 million of additional working capital into the Company to

allow the Company to take advantage of existing sales opportunities. Any transaction with SCB is

subject to the completion of its due diligence and definitive documentation, internal approvals of SCB

and acceptable agreements with the Company’s current banks and arrangements or settlements with

the Company’s other creditors. “We are excited about a new partnership with the Standard Chartered

Bank” said Acres. “This transaction would provide the needed working capital to grow the Company

and bring it back to financial health.”