Blackcat, I think YOU don't get it. Dr. Harnoy did not file a wrongful termination notice. Seth did.
From what I understand it was clear and unequivocal that IMUN was not meeting its licensing obligations to ITL. ITL offered repeatedly to renegotiate payment terms and all offers were snubbed by Seth. ITL's board even flew to NY to meet with Seth and he refused all offers to negotiate an amicable resolution to the non-payment. Then Seth made up this fantasy that the agreement was wrongfully terminated. It wasn't. It was rightfully terminated and Seth gave ITL no alternative. The settlement if anything is proof of this.
Now you have 9% of a non-public company, very little cash in the bank and a CEO who likes to burn the cash. If Seth shuts down all its operations, close its office and stop paying all salaries, it might make it until ITL sees an exit.
$5/share is also a pipe dream. A successful clinical trial will probably make ITL worth $300m to $1b, 9% of that is $27m to $90m. There are a total of 197m shares right now so do the math. That is less than $.50/share, even without any debt that needs to be paid off and how much of that will Seth and crew burn through in the next few years until the trial is done.
I am not trying to blow out anybody's candle here. Just trying to be realistic.
AI
