Seelos Therapeutics Inc (SEEL)

[MasterMerlins]

Going against my BETTER Judgement.. ( and waiting in vain for somebody else to pick up on this.. On either board )

I am going to share some info..!

Apricus "Bought" the Remaining 50% stake of PreVonco from Innovus Pharma.

The Cost..?

$25K & the Return of the Innovus Shares that we were Given when Innovus Pharma became a Public Company.. ( shares that by the way.. Were not Reflected on our Financial Statements.. So, NO... We are not Reflecting a LOSS..! )

And to be Honest.. Out of all the Apricus Deals to date.. This was one of the deals that I thought we weren't getting a fair Shake..

Especially, since Innovus Pharma is going to have to ( and has been having to ) DILUTE in order to Survive..! After EVERYTHING was Said and Done, Our Shares in Innovus Pharma were going to be WORTH .. NOTHING..!

I believe this is the BEST possible Scenario for us.. ( Given their Financial Circumstances )

"ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.



On October 4, 2012, we entered into a Settlement Agreement with Apricus Biosciences, Inc. (“Apricus Bio”) pursuant to which we sold to Apricus Bio our remaining fifty percent (50%) share of the future commercial right of PrevOnco™, in exchange for the return of 135,888 shares of our common stock which Apricus Bio had acquired through the conversion of promissory notes issued by the Company and a one-time cash payment of $25,000. In addition, we agreed to terminate our licensing right to the NexACT® technology and any claim to any PrevOnco™ backup compounds."