Elichen ~ I'm not sure on this one. Great question. Could go either way. My assumption is that Elite would still want those additional AS for additional bargaining power with a BP. We now are able to come to the bargaining table saying in essence to the BP's.....look we would like your help and money....but we don't need it.....we already have funding and can obtain further funding if needed. This IMO places Elite in the best possible position to obtain a BP partner.
Maybe LPC is going to get those Preferred shares but I doubt it. You don't want a company like LPC having voting rights.
No it doesn't mean that at all especially if the preferred shares where such as great deal as made out to be. Of course NH should put something out explaining his position and rationale on a Huge Picture Basis and perhaps letting investors know if we are looking at an endless opened ended share issuing machine.
Elichen- as I mentioned I heard from Dianne and Elite will still need the additional AS. So we still need to vote yes. We need those AS shares to cover NH & JT's shares as cognition has mentioned. I think we will also get to use them with a partner.
This PR is huge. We have the product. We have the intellectual property rights and now we have the funding. I'm happy with this but a partner would top it off! Either way we have the green light for ART to move forward!
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