Just to clarify, this scenario does not even remotely describe what is being discussed. There is no bidding process involved in any of this, his team did not submit a proposal to amedica. Best way to settle this is sending an inquiry to the SEC regarding this arrangement, which I will be doing to get clarification. It is beyond me that any rational person could justify hiding this setup is ok with no disclosures. Either way this gets settled by the only people that matter, will update when they get back to me.
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