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TOPIC: Bimini

Bimini 25 Nov 2018 20:53 #12368

  • myownhedgefund
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So Cytori had sue just to get their $1 million from Bimini....LOL
What's with Cytori and the partnerships they form ?

>>>On August 31, 2018, we filed a Demand for Arbitration with the American Arbitration Association in San Diego, California, against Bimini Technologies LLC (“Bimini”) for fraud and breach of a Sale and Exclusive License/Supply Agreement made in 2013 under which Bimini licensed rights to the Company’s Standalone Fat Transplantation, including the Puregraft Product Line and associated trademarks. Our arbitration demand alleges that Bimini failed to make a $1.0 million milestone payment due to the Company after Bimini achieved $10.0 million in gross profits from the sale of the Company’s Puregraft product line, and Bimini deceived the Company about Bimini’s true gross profits figures. Our arbitration demand seeks that $1.0 million milestone payment, as well prejudgment interest and attorneys’ fees. On October 29, 2018 Bimini made the $1.0 million milestone payment. The parties subsequently entered into a settlement agreement resolving the claims in the Demand for Arbitration.<<<

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Bimini 26 Nov 2018 05:53 #12369

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myownhedgefund wrote: So Cytori had sue just to get their $1 million from Bimini....LOL


Welcome back Hedge.
Anyway- on your remark- from what I observe from over here, lawyers seem to have become an integral part of the American Way of Life. Helps with keeping the unemployment rate down and adds to GNP. :grin:

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:
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