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GetSeriousOK

05/16/23 8:29 AM

#314038 RE: srinsocal #314024

Who said anyone would pay millions for the patents?

What I said was that Kelly, Rick, and Patty would pay off EX-IM bank in the case of bankruptcy (or if they needed to keep their poison pill intact in the case of a hostile takeover). That's a half million.

They'd have to dig into their own pockets, of course. This ridiculous little popsicle stand of a company will never be able to pay off EX-IM Bank otherwise.

The EX-IM loan doesn't default until November 2023.

What I also said was that IF an entity thought they could sell the device (where all others have failed, I might add), they'd become a Distributor. For RecoveryRx in particular, Distributors make more money than BIEL, and being a Distributor means you don't have to assume the debt.

$16 million debt isn't much for a vibrant successful company, but for a popsicle stand generating $100,000 gross revenues in the last six reported months, $16 million is a mountain of debt.