Replies to post #10089 on BioCurex, Inc.(fka BOCX)

[great-grandma]

That's pretty much what he told me too. He said there was an option to sell more stock, but that the company was not planning to do so - assuming I interpreted everything correctly.

[tommyb]

Thanks for the feedback. I am by no means skilled in contract law, so my interpretation of the "affirmative covenant" section could be way off. It just seemed to rather clearly state that BOCX needed to raise additional equity as part of the agreement, but perhaps they are not contractually obligated for some reason (e.g., maybe there was a verbal agreement that BOCX would make a good faith effort to raise the additional equity, but it was not a requirement).

My original fear was that this loan was just a temporary fix to gain BOCX more time to try and raise equity, and if they couldn't, the hedge fund would "foreclose" (so to speak). As time passes, it looks more like the loan was intended to get BOCX to the start of revenue, which is encouraging.

All we need is an announcement from Abbott to bring the stock price up, and BOCX will be in reasonably good shape.