Replies to post #23763 on Cytogenix (fka CYGX)

[Jimmy Joe]

G I sure hope you are right.
"years ago cygx was deperate today we have syn and the dna vaccine market at our finger tips"

By the by G I am not pro Phenuel Pursuits nor am I anti CYGX.
Heck I would not have touched Phenuel Pursuits no matter what my dire need was had I been in charge. There are far too many avenues to explore without getting involved with that type of outfit. Would not have touched Phenuel with a ten foot pole. This is exactly where someone with expertise AKA experience in the corporate world could have avoided this mess for the lack of a better word. Mr. Campo has this experience. I do not think Mr. Campo was around when this deal was formed or I do not think he would have given it his blessing had he been around at that time.
My best guess is that someone knew someone who knew of this group calling itself Phenuel Pursuits who had contacts abroad.
That may have been the thing to get the wheels turning.

If CYGX gets even a fraction of a DNA vaccine market I will be happy. Until then it still remains to be seen.

Mr. Kibbles is out to lunch.

JJ

[arnold]

gdepc, IF CYGX failed or refused to give PP the results of the tests on herpes as PP stated in their lawsuit, the contract would have been considered breached. Once the contract was breached, if PP made an additional payment it's possible they could no longer claim the contact was breached. We've discussed this issue with a couple of lawyers and they agreed that this was a possibility, although not a certainty. I seem to remember this being discussed on the board after the suit was filed. You can do some DD on your own and ask your attorney for his/her opinion on this issue. Another thought would be that IF CYGX failed to give PP what was called for in their contract, why would PP give them additional money when CYGX did not deliver according to the contract in the first place? Please remember, I am saying, IF, as this is something that the courts will have to answer unless a settlement is reached between the companies before it gets to court.

IF, and remember again I am saying IF, LW made the statement that PP attributed to him in their lawsuit, then it definitely would have been a huge mistake...one that a kid in grade school would use to taunt another kid. I can't imagine another CFO making such an inflammatory statement.

It was 2 years ago, July 21, 2003,that CYGX made the option agreement with PP. While technically that is "years," it is not YEARS ago in the way most of us think. Not sure how desperate CYGX was at the time....but to date they still have no financing in place so they may be just as desperate now. Hopefully they have learned lessons from their past and will be more careful and selective this time.

As you said, "a bunch of lawyers don't get there way what do they do sue who ever ticked them off," did you forget that MS, the CEO, is a lawyer and every agreement has ended in a lawsuit...one he himself filed and LOST to AVGI & Waldroff?

It's amazing though, so many people blame the lawyers; this is country based on laws and if you were injured in an accident or "injured" in business, who would you call for help?