BioSante Pharmaceuticals, Inc. (BPAX)

[Just the facts maam]

Thanks professor, I was under the impression they may recover their expenses first before honoring the 5% but obviously they have no intention of honoring it.

If there are more than $2.5 million of "development expenses" between the completion of the merger and the first sale of LibiGel products, then no cash payment will be payable to CVR holders for any sales of the LibiGel products.