Replies to post #3122 on CardioVascular BioTherapeutics (fka CVBT)

[donkey40]

Twd - life is a journey so let us first fact check how CVBT got to where it is today. Then we have the background information to calmly and openly discuss where it may hopefully go in the future.

What the Court documents indicate it there has been a whole heap of litigation between the Montano faction and the Wallen faction. The early litigation was brought by Wallen faction to remove Montano faction from the running of the company. In successfully doing that, Montano lost control of his 30-odd million shares, had to file for personal bankruptcy, and had a Court ruling he was liable for personal guarantees extended by him to Wallen amounting to approx $2m.

To Montano’s credit, he was trying to make CVBT work by giving his personal guarantees to corporate borrowings of CVBT back in the day. But sadly he didn’t manage to deliver on strategy and financing back then. Having lost his shares in CVBT, he was then no longer required to act in the best interests of shareholders since he no longer was CEO of the company.

There is a plethora of Court documents narrating the efforts of Wallen to keep the ‘lights on’ at the company and the attempts by Montano setting up in opposition to the company. That has all finally been ruled on by various judges and also an Arbitration forum. The outcome is Montano was awarded some $900k award for back wages earned but unpaid for his efforts when still employed as CEO back in 2012 and 2013 mainly.

Do we need the detail of how we get to that - not really. But anyone that is interested in that can ask here and I will post what I can from the Court extracts.

Hopefully if the detail behind the litigation events of the past near 10 years is brought out into the open, those shareholders and others interested in discussing the future potential of this company will be able to do that rather than any conversation being quickly drowned out by references to the company history. That is all in the past - shall we try and look forward to seeing if the Wallen faction can now deliver what the Montano faction sadly didn’t manage to.