This is just starting to rise in value and has much more to gain. This is an exceptional cancer drug they're in the middle of financing and if look into past news already got some. They do not want to dilute and will be able to get incredible financing most likely. But buy now cus once all this happens this will skyrocket in value. Lots to come here.
Increasing long term debt is a sure way to find non toxic funding. Especially if it's for something they already own. That's sticking it to shareholders the right way huh? Add the 2 sales together and plug in the interest charges.
============================================================== Effective December 28, 2015, we executed a Patent Purchase Agreement (the “Purchase Agreement”), with Advanomics Corporation, Montreal, Canada (“Advanomics”), pursuant to which we acquired all of the right, title and interest in and to all of the remaining worldwide patent rights (Patent Numbers PCT/FR2007/000697 and PCT/CA2014/000029) (the “Patents”) for our anticancer compound, Adva-27a. In October 2015, we had previously acquired all of the US Patent rights from Advanomics, so as a result of this transaction we now own all of the relevant patent rights throughout the world for Adva-27a. The Purchase Agreement provides us with direct ownership of the Patents,
The purchase price paid by us for these patent rights was $12,822,499, which will be paid pursuant to the terms of a secured promissory note, with quarterly payments of principal and interest beginning in March 2016 and continuing each consecutive calendar quarter thereafter through December 2020. Advanomics has been granted a security interest in the Patents.
Section 2.2 Purchase Price. The purchase price to be paid by Purchaser to Seller for the Assigned Patents is Twelve Million Eight Hundred Twenty Two Thousand Four Hundred Ninety Nine US Dollars ($12,822,499) (the “Purchase Price”), which shall be paid pursuant to the terms of that certain Secured Promissory Note (the “Note”). The Note and the applicable Security Agreement (the “Security Agreement”) are attached hereto and incorporated herein as if set forth as Exhibit “B-1” and “B-2.
Patent Title: NOVEL GEM-DIFLUORINATED C-GLYCOSIDE COMPOUNDS DERIVED FROM PODOPHYLLOTOXIN, THEIR PREPARATION AND THEIR APPLICATIONS
Owner: Advanomics Corporation
Patent Title: NOVEL GEM-DIFLUORINATED C-GLYCOSIDE COMPOUNDS AS ANTI-CANCER AGENTS
Owner: Advanomics Corporation
PCT Application: PCT/CA2014/000029
Priority Date: 14-Jan-2013
Countries Issued: None
Countries Pending: USA
Canada
Europe
India
China
Japan
Korea Exhibit B-1
SECURED PROMISSORY NOTE
$12,822,499.00 December 28, 2015 Montreal, Quebec, Canada
FOR VALUE RECEIVED, the undersigned, SUNSHINE BIOPHARMA, INC., a Colorado corporation with its principal place of business located at 469 Jean-Talon West, 3rd Floor, Montreal, Quebec, Canada, H3N 1R4 (the “Maker”) hereby promises to pay to the order of Advanomics Corporation, a Canadian corporation (the “Payee”), at such place or places as Payee may designate in writing, the principal sum of Twelve Million Eight Hundred Twenty Two Thousand Four Hundred Ninety Nine U.S. Dollars and no/100 ($12,822,499.00). Interest shall accrue on all unpaid principal balances due hereunder at the rate of two percent (2%) per annum (my note: goes to 12% and accelerated if defaulted), payable as follows:
WHEREAS, Seller is the owner of U.S. Patent No. 8,236,935 (the “Assigned Patent”);
Section 2.2 Purchase Price. The purchase price to be paid by Purchaser to Seller for the Assigned Patent is Four Million Three Hundred and Twenty Thousand U.S. Dollars ($4,320,000) (the “Purchase Price”), which shall be payable in Twelve (12) equal annual installments of Three Hundred Sixty Thousand Dollars ($360,000.00) per payment due and payable on or before December 31 of each calendar year, with the first payment being due and payable on or before December 31, 2016. This obligation shall be memorialized in that certain Secured Promissory Note in the principal amount of the Purchase Price (“Promissory Note”), a copy of which together with a copy of the pertinent Security Agreement (“Security Agreement”) are attached hereto and incorporated herein as Exhibit “A-1” and “A-2”.
We hold the exclusive rights to Adva-27a in the United States. We received this license from Advanomics Corporation which owns the international patent applications filed on April 27, 2007 (PCT/FR2007/000697). These patent applications, which are now issued in Europe and the United States (US 8,236,935) and are still pending elsewhere around the world, were originally owned by Institut National des Sciences Appliquées de Rouen (France) and have recently been purchased by Advanomics. On January 14, 2013, Advanomics filed a new patent application covering Adva-27a manufacturing processes as well as new Adva-27a derivatives and compositions.
Offer to exchange 56,839,061 Common Shares for 56,839,061 Common Shares of Sunshine Biopharma Inc., a Canadian corporation, that have been registered under the Securities Act of 1933
We have filed a registration statement on Form S-4, of which this Prospectus is a part, to register the issuance of Common Stock that is to be delivered to our shareholders by a to-be-formed Canadian corporation upon the completion of a redomestication of our Company, Sunshine Biopharma, Inc., a Colorado corporation. We are proposing to change our jurisdiction of incorporation from Colorado to Delaware, then to the Canadian federal jurisdiction under the Canada Business Corporations Act (the “CBCA”) through a process known as a continuation under Delaware and Canada corporate law (the “Continuation” or the “Continuance”). In order to give effect to the Continuation, our Board of Directors has adopted a plan of merger under the Colorado Revised Statutes (the “Plan of Merger”) to reincorporate our Company into a Delaware corporation in order to take advantage of the laws of the State of Delaware authorizing a continuation, and simultaneous therewith, to file a Certificate of Transfer with the Delaware Secretary of State to continue our existence as a Canadian corporation.
I'm sure this was previously posted and I just missed it, but can anyone with some experience in this area please speculate as to what sort of financing a company can expect to get in these circumstances? Is major dilution our only hope?
They have a lot of debt (relative to their size) and little cash, and need a lot more cash to get to Phase I. Where does that leave us? I was hoping a rise in the market value of the company would provide them with better access to financing, but now we're back at a penny.
The last funding deal actually had a caveat to it, maintain a certain price and the get a small discount, fall below it and they get around a 90% discount. I'll have to check that filing again. But I'd be surprised if they can find a non toxic financing deal at this point. I speculate Slilaty is aiming for more grant funding but may not be eligible till he follows through with moving this entity through Delaware to Canada. See what happens. No deals with anyone reputable (non toxic) until he actually gets cleared to start phase 1. And a LOT of damage control between then and now.