To: Another_Voice_2 who wrote (10906 ) 8/20/2018 7:42:31 PM From: HardToFind Respond to #2 is what is his understanding with Dr. D as to his authority. If he did his research he should know one of the pressing items is the ownership (uncontested) of the shingles cide virus. If not clear can he sue Dr. D. to clear this up? This is a perplexing question and an annoying situation. Dr. Diwan is clear that NNVC has not yet licensed the shingles indication. It is not clear why the negotiation to license this has taken so long, or has perhaps stalled out. Maybe Diwan wants more money than NNVC can afford today, and he is waiting for another equity financing. Maybe Diwan wants to have NNVC continue increasing the value of the license with continued development (animal testing, etc.). Maybe this is a complex issue and he is too busy to pursue it right now. Maybe there was some feedback from the value assessment that needs to be cleared up. As it sits right now, Diwan's silence on the matter raises the specter of double-dealing (managing NNVC to optimize his own personal interests). Precedence tells us that if Dr. S got fired by Diwan (which the severance package seems to lead one to believe), Dr. T has limited leverage to change Diwan's mind or behavior on the matter.#3 Does he have an understanding of the future on NNVC. Is he going to sell the company to the highest bidder, or raise money to run NNVC as a standalone company? Shortly after the plant at Shelton was up and running, Seymour & Diwan hosted tours and an informal Q&A. Seymour indicated at that time he wanted to get the company up and running, and then sell the company so that he could retire (wealthy). He implied that Diwan wanted to pursue cancer, etc. with nanomedicine, and wanted to sell NNVC to clear his plate and free him up to do that. (I'm not sure if Diwan still feels like he has enough years left in him to tackle cancer.) At the last shareholders meeting, a then-member of the board of directors told me that (in his opinion) the company needed to be restructured to become salable. (Sadly, this person's opinion doesn't matter quite as much anymore.) As I believe I stated earlier, Seymour, just before his sudden departure from the company, told me the licensing was in the midst of being restructured to the shareholders' benefit. This discussion was as a result of me asking why the SEC documents said the licensing royalty was 15% of revenues, whereas Seymour had publicly stated it was 15% of profits (a very different thing). Despite asking several times, I never got an answer to my question, but the previous comment came seemingly as an attempt to redirect my attention and imply that my question didn't matter anymore. Anyway, that implied restructuring of the licensing agreement has yet to happen about seven months later. Also, about 20% of the company will revert ownership to Series-A shareholders in the event of the change of control (i.e., sale) of the company.Bottom line : I think the original intent was to sell the company as soon as management got things up and running. I don't know what management's intents are right now. If the company goes bankrupt, Diwan gets all of the company's IP license assets (which is even more than 20%). But I think Diwan wants NNVC to be recapitalized, as it then would continue to be a source of lifeblood capital for TheraCour. Without capital, IMO, the licenses aren't worth much.
