$250,000 CRADA payment in December?
The $ 250,000 CRADA payment is the one payment that GNBP HAS to make or risk losing Dr. Rosenberg and their only real asset.
While they have been stiffing NIH and other investor lenders over the past year they always found a way to make the CRADA payment. (Sometimes a bit late, but made nevertheless.)
It is now very questionable as to whether the CRADA payment due in December was made by GNBP. GNBP has no cash income except for loans or investors. GNBP has not announced any new loans or investments of $ 250,000 that would cover the December CRADA payment. Tony Cataldo and Mike Handelman have gone dark, with no word at all since the 12-4-2012 announcement that Hans Bishop had resigned.
Today's filings make it official that Bristol is stating its claims against GNBP and any assets they may still possess. I expect that Theorem and Ayers as well as many of last years 13 individuals who loaned almost 1.5 million in spring and summmer of 2012 will be thinking of doing the same thing very shortly.
Another in a long line ..........................
