Also wondering why SMI is not mentioned in this 8-k. I'm not sure Shenghuo ever gave Guided that $1 million they promised????
"At its option, Shenghuo also would provide up to $1.0 million in furtherance of the Company’s efforts to secure regulatory approval for LuViva from the U.S. Food and Drug Administration, in exchange for the right to receive payments equal to 2% of the Company’s future sales in the United States, up to an aggregate of $4.0 million."
I still believe SMI is incapable of getting CFDA approval, and I have said in the past that I would like to see Shenghuo step back in. Shenghuo was uncermemoniously kicked to the curb in 2016 when SMI came along with big promises, but since then, SMI has proved to be full of BS...... on the other hand, Guided did just ship SMI four devices.....
SMI has about six more months to get CFDA approval, which of course is impossible since they haven't even started the clinical trial yet... but Guided keeps extending SMI's deadlines.....
Shenghuo short-term debt and convertible notes were all paid off between 12/31/2019 and 06/30/2020..... however Shenghuo is the largest long-term debtor....
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