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Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Sincerely,

George et al

Message: Debenture Due Friday the 13th, May 2022
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Per Note 7 of 9/30/21 Financials:

On May 13, 2021, the Company closed a US$6.0 million secured convertible debenture (the “Debenture”) with Shenzhen Hepalink Pharmaceutical Co., Ltd. ("Hepalink"). The Debenture bears interest at 10% per annum, payable on the May 13, 2022 maturity date. Hepalink may elect to convert the principal amount of the Debentures and accrued and unpaid interest thereon into common shares of the Company at a conversion price equal to the lesser of CAD$0.93 per share and the 5-day volume weighted average trading price of the common shares on the date of conversion. The Company granted Hepalink a security interest in all of its assets, including its patents and other intellectual property, as security for its obligations under the Debenture.

The current 5 day average trading price is ~.6 CAD. .93 CAD represents a 55% premium over the current market price.

ClinicalTrials.gov has an estimated primary completion date of 3/22/22 and an estimated study completion date of 9/22/22.

Somethings got to give - soon. We are 16 days from estimated primary completion date - I presume that means database lock? We are 10 weeks from debenture due date. 

I suspect that the estimated primary completion date will be delayed possibly 4-6 weeks.

So what's the plan Mr McCaffrey?

The next few weeks should be telling.

Chicagoest 

 

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