NanoViricides Inc. (NNVC)

[davidc2]

This is amazing, does this explain all the delays?

Quote:

In Reply to 'SecuritiesLawyer'
Theracour can immediately revoke the NNVC licensing agreement.

As it reads: "If Nano fails to market an approved product within a reasonable period of time, then Theracour shall have the right to buy back the rights to the said product by arranging to repay the costs financed by Nano for the said product."

You could drive a herd of camels through this loophole.

"Reasonable period of time" could mean anything. But given that NNVC told Theracour that approvals should be in place by 2009, it would be hard for NNVC to argue that a six-, or seven-, or ten-year delay could be considered "reasonable" in any court in the land: https://web.archive.org/web/20050713005513/http://www.nanoviricides.com/ppl_home.htm

Oh, but wait, you say - NNVC has 90 days to remedy the breach, right?

Note the word "approved". So, all it would take is a drug approval within the next three months. Good luck.

In short, this contract is tissue thin.

Thx, Karin.