For those of you who did not read this in the last 10 Q filed.
On February 19, 2013, the Company and ITL entered into a settlement agreement whereby the parties have agreed to the following: (1) the Company will submit a letter to the Court advising the Court that the parties have reached a settlement and that the Company is withdrawing its motion, (2) ITL will pay the Company $20,000, (3) ITL will issue to the Company, ITL’s share capital equivalent to 9% of the issued and outstanding shares of ITL, (4) IMUN WILL CHANGE IT'S NAME and (5) the settling parties agree that the license agreement will be terminated.
IMUN will now divorce itself from ITL. IMUN will remain in the same BIO space with another company in the near future. IMUN will retain 9% interest in the issued and outstanding shares of ITL. We will be a shareholder of ITL at the cost of $3.7 MILLION DOLLARS.
It will be ITL responsibility to raise funds and be successful in the Bangkok trials. We will see if DR. Harnoy has something or not after trials results are reported.
Long and Strong for all IMUN Shareholders.
Blackcat7717