CurAegis Technologies Inc (fka CRGS)

[tovcinthebasin]

(vii) Gifts, Favors and Entertainment
Torvec’s objective is to compete in the marketplace on the basis of superior products, superior service and competitive prices. No payment in any form shall be made directly or indirectly to anyone for the purpose of obtaining or retaining business or to obtain any other favorable action. No gifts should be accepted from a supplier, vendor or customer unless the gift has insubstantial value and a refusal to accept it would be discourteous or otherwise harmful to Torvec. Personnel must receive approval from their supervisors before they accept any gift having a value of over $25.00. I would guess for under $25 it would be "chinzy". This policy applies equally to giving gifts to suppliers or vendors or non-governmental customers (see the above discussion of gifts to governmental representatives).

Did someone left at TORVEC in the filing suggest that any gift giving was appropriate? It is important to know that in this regard that gift giving is an important aspect of doing business in china and that more than one business transactions has been stymied due to inappropriate or insulting gifts made by Americans. Isn't that a violation of the code of conduct?