Intellect Neurosciences Inc. (fka ILNS)

[itwillgetbetter]

Something else.

If Dr.Chain sold his stake in ILNS it would be a material event and a filing would have been filed with the SEC cause it would be a material event just like in the prior 10K Chassman!

http://www.sec.gov/Archives/edgar/data/1337905/000114420413055306/v356503_10k.htm



Item 13. Certain Relationships and Related Transactions, and Director Independence.



We describe below any transactions, arrangements or relationships of which we are aware, as of the date of filing of this current report, which occurred since the beginning of the last fiscal year or are currently proposed to which we are or will be a participant (as defined in Item 404 of Regulation S-K); in which the amount involved exceeded or will exceed $120,000; and in which any related person (as defined in Item 404 of Regulation S-K) has or will have a direct or indirect material interest. We include in the description below transactions involving certain of our founders and control persons.



Certain Relationships Involving Margie Chassman and David Blech



Ms. Margie Chassman is one of our founding principal stockholders and is the spouse of Mr. David Blech. Ms. Chassman beneficially owns 11.0% of our common stock, including shares by a trust, for which Ms. Chassman serves as Trustee and of which one of Mr. Blech’s sons is a beneficiary. Ms. Chassman has expressly disclaimed beneficial ownership of certain of the shares that applicable SEC rules deem her to beneficially own. See “Item 12 - Security ownership of certain beneficial owners and management and related stockholder matters.”