Replies to post #42815 on Humanigen Inc (fka HGENQ)

[cowtown jay]

I wonder how the Liquidating Trustee is going to declare a distribution to existing equity holders, who hold far more shares of HGEN than the company issued. Am I going to get a distribution based on my oldest shares, but not my newest shares? For that matter, if InhibRx-styled news is released by which we establish a business relationship with Sanofi, and an advanced Purchase Agreement results in the payment due to all of our creditors, what need do we have of the Liquidating Trustee?

Docket List:
https://dm.epiq11.com/case/humanigen/dockets

[cowtown jay]

The, "...court recognized developments (details of which appear to be redacted), that will bring sufficient value to have justified an amendment to the Asset Purchase Agreement, allowing for additional Milestone Events and higher payments. So there will be no reason to decline a distribution to existing equity holders. It is clear that favorable regulatory approval/authorization is required to enact Milestone payments."

The court recognized the feasibility of Humanigen's ability to meet the CH11 obligations.

"G. Feasibility

Here, the Combined Plan and Disclosure Statement provides for the liquidation and
distribution of all of the Debtor’s remaining Assets. Accordingly, the Debtor believes all chapter
11 plan obligations will be satisfied without the need for further reorganization of the Debtor. "


pg 35/69
https://document.epiq11.com/document/getdocumentbycode?docId=4343521&projectCode=HUM&source=DM

The last report that I saw reflected that Sanofi was holding just under 5% of our (then Kalobios) shares. So they would have significant financial benefit in the event of a recall of our loaned shares, or merger news.

Sanofi would have significantly more financial benefit if Humanigen/Taran enacted the plan they previously suggested, details which included providing a merger partner with ~238,160,270 shares of our stock (which is twice as high as our current OS). I determined that they would accomplish this by declaring a 5:1 forward split, (temporarily?) increasing our OS to 595,400,675 shares.

In any event, I have been saying that achieving any Milestone Event would fully satisfy all creditors, and provide for a Distribution to existing equity holders. It was nice to have validation of that opinion expressed by management.

I know that I'm missing something significant about Sanofi, so I decided to consider them in terms of the merger details previously discussed. So maybe this will conclude with our joint ownership of a merger entity with Sanofi.

[cowtown jay]

I would like to respectfully address comments made here very recently. A couple of you have said, "Do I still believe HGEN shareholders are screwed? Yes." And similarly, from another poster, "As for HGEN I also am in the camp that we are screwed as shareholders. The comments were from SG44 and DTG, respectively.

However, the Debtor said, "Here, the Combined Plan and Disclosure Statement provides for the liquidation and
distribution of all of the Debtor’s remaining Assets. Accordingly, the Debtor believes all
chapter 11 plan obligations will be satisfied without the need for further reorganization of the Debtor. "

I can't reconcile the Debtor's statement, that all CH11 obligations will be satisfied, with your opinions that shareholders will be screwed. This is especially true since the Asset Purchase Agreement was amended to increase the number of Milestone Events, and also increase the amount of the payments for each Milestone Event. And we know that a US BLA, or regulatory approval from any of a number of foreign governments, are REQUIRED to reach a Milestone Event. For you guys to be correct about shareholders getting screwed, then the value from reaching the Milestone Events could not exceed the amount due to Unsecured Creditors. That will not happen, any financial recovery will be far greater than the amount owed to Unsecured Creditors.

And sosjtb, while I agree that the initial vaccines were better than NO vaccine in real time, I don't agree that, "Science and reason is what ended the pandemic when it was killing on a daily basis." Our initial focus on getting mRNA vaccines to as much of the world as we did, was only the precursor to what could be a far worse pandemic, with a more virulent outcome, into populations with impaired innate immune response systems, damaged by the previous mRNA vaccines.

Also, I recently shared videos on the subjects of:

a "Potential breakthrough coronavirus treatment," and

how "Treatments for Covid Are Being Ignored By FDA."

How did Tucker alter those topics? I earlier shared a video of Chris Cuomo interviewing the former CDC director, Robert Redfield. Does that mean I have TWO tinfoil hats?

Back to the main subject of this post. What I did not discuss was management's efforts in the private sector, capitalizing on establishing business relationships with partners such as Sanofi and Novavax. I think those opportunities are palpable, and reason beyond this CH11 that promise our success.