Staelin is "liable?" for what? Everything he said looks like well-masked Safe Harbor BS to me, protected by phrases like "I believe," "should provide," "assuming," "we intend," "plans to," "the plan is," "predicated on the expectation..."
The only statement he made with questionable liability was ".... agreeing to purchase a minimum of approximately $14,000,000 worth of product from us," and that's why I'm commenting on it, but that clause is almost certainly specified in the contract as a condition necessary to keep the exclusive rights in those territories, as in any distribution agreement.
If MundiPharma legally promised to buy $14 million worth of goods, why didn't BIEL say that before today? A contractual obligation to buy $14 million worth of product would have been HUGE news for this tiny company, if true. No, I don't think it was a legal promise to pay $14 million, and clearly MundiPharma doesn't believe it either. I think Staelin is using word play to imply it.
Furthermore, if MundiPharma had this huge blockbuster contract with exclusivity in SE Asia for five years starting in November 2018, why did BIEL sign that Synergy Deal in August 2022? They broke any possible MundiPharma 5-year contract when they signed that deal, and yes they specifically said they SIGNED that Synergy deal.
But, fine, you and the rest of the BIELievers call the company tomorrow and tell them you want to invest in their lawsuit against MundiPharma. Write them a check. I'm sure you'll get your money back, with interest, when BIEL wins that $14 million in a Singapore court of law.
When? Soon!
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