Humanigen Inc (CE) (HGENQ) Quote

Just so I understand, are you implying they have intentionally not met section 1129(b) so they would be forced or have reason to modify the combined plan?

If that were the case, and it was not already met the judge would not have approved the combined plan. The only method forward utilizing that idea is for the liquidating trustee is to come forward and say the approved combined plan was a farce. I'm not sure that's a feasible option or a method which we would or could receive anything.

i guess you dont remember the last bankruptcy. shareholders were included in the restructuring

I don't agree that shareholders are shut out. I don't think management would be reserving the right to further, "...modify the Combined Plan and Disclosure Statement to the extent, if any, that Confirmation pursuant to section 1129(b) of the Bankruptcy Code requires any such modification."

No, I've never spoken to Durrant. My only contact was when he replied to a compassionate use query from me, on behalf of someone else.

The latest docketed item, filed today, contains redactions. This is at least the third time information has been sealed or redacted. Multiple parties, other than management, may have an interest in withholding information for now.

But the question is, when will we have positive news, whether regulatory or partnership related?

That news will open the floodgate of buying interest, and I think it will disqualify us from continued effort in the bankruptcy court.

By the way, a new US survey finds that 43% of American adults have little or no trust for the medical and pharmaceutical industries.

which was the master plan all along. average people NEVER would have been allowed to buy 14 mm shares well below par value .
its over jay and it was planned to be over .
ill be happy to be proven wrong .
durrant cares so much about shareholders he has not answered a single email to multiple investors.
have you ever even spoken to this guy?

the reason i say what i say is that the last time they went bankrupt shareholders were always part of the new deal. in this one we are specifically shut out .

It's really not that hard to figure out. The key is the amended Asset Purchase Agreement (APA).

That unleashing of additional Milestone Events, and increased payments from reaching those Milestone Events, would satisfy all financial obligations to all classes of creditors, and lead to a Distribution to the existing equity holders.

Once again, "The Debtor intends to request
confirmation under section 1129(b) of the Bankruptcy Code with respect to any Class that has not
accepted or is deemed not to have accepted the Combined Plan and Disclosure Statement pursuant
to the terms of the Combined Plan and Disclosure Statement or section 1129 of the Bankruptcy
Code. The Debtor reserves the right to modify the Combined Plan and Disclosure Statement to
the extent, if any, that Confirmation pursuant to section 1129(b) of the Bankruptcy Code requires
any such modification."

I just never felt assured that this unknown Liquidating Trustee would act in our best interest with sole discretion to determine our Distribution rights. I think there are several financial firms, and the SEC, and the hybrid NIAID/NIH with their financial stake in Moderna's success, that could compromise the decision of the Liquidating Trustee. This may be an initial challenge for the judge's consideration of Section 1129 compliance. But there is plenty of data reflecting how much of Moderna's operating expenses are paid by NIAID and the NIH, and scientists from those agencies are receiving royalties from the sell of this drug, and just today I posted a link to the peer-reviewed British Medical Journal's publication, reflecting that Pfizer failed to disclose that their vaccine resulted in a 36% increase in Serious Adverse Events from the vaccine, compared to the placebo group.

There is no way that Creditors could be paid in full, without a Distribution being declared to existing equity holders. After all, if all the creditors are paid in full, then the company should not be in bankruptcy court.

the only reason they would want to keep any shareholders is so that they may buy more shares , and the best way to get them to do that is to give them a pittance of what they had .
durrant is an old pro at this. he has come through all this crap a wealthy man while ruining a lot of people

i say foolish because i look at this from the eyes of the next suckers that put money here , why would they want to give former shareholders a penny?
again there are no such thing as loaned shares, and the short positions were most likely largely covered during the share price plummet.
and even if durrant dealt shareholders a break now , how much could it really be?
i think jay forgot that marty stopped lending shares before the bankruptcy, not after . and that durrant had nothing to do with any of that …
they would have had to disclose they are holding the whole float ( and then some according to jay ) in any bankruptcy filing
its just preposterous to continue to float that theory

I don't believe any of Jay's theories are foolish, though as I've said prior I don't believe this has gone our way, or will go our way at all.

When we look at the extremely basic facts of this case it is hard to dispute:
- The company has been dissolved.
- There is nothing in the approved plan to indicate any recovery for shareholders. The exact opposite is actually stated multiple times.

IF we were to receive some fancy stock discount deal, that would be interesting. But again, there is no reason or obligation for Durrant to do that...so why would he? The answer is: He wouldn't.

Regarding your Dale comment. I did try to look at the most recent edgar filings for Dale/Durrant/etc. a month or so ago but they are severely limited. Dales last was sometime in 23' which if I remember indicated he still owned 10ish million shares of Humanigen? (don't quote me). I hadn't seen any gigantic sell-offs so I imagine he still does.

You are correct, if he joins in the Taran venture its safe to assume they will issue themselves X shares to recoup any losses here and repeat the process. To point out, I only used him as a reference in a prior comment to drive home the point about fairness.

i will add that dale earnheart will not mind that deal as they can issue themselves as much new stock as they want

no big deal i just dont want jay feeding into that comment and believing more foolish theories about the stock being loaned and overly owned by the very people that stripped it clean.
the facts are closer to the company being bled dry and
durrant and the company they paid cash to find a buyer standing in a circle agreeing that durrant can have all the assets cheap.
notice i said circle
the only possibility i can see is current shareholders being involved in some new entity at an extreme discount to current share structure.
of course with any new pumping, shareholders will be able to purchase MORE stock .
rinse and repeat is all this MAY be.

You are absolutely correct, that is my bad on the gaff and thought put into that section of my comment. I intended to outline what is basically the opposite of what I actually said, but instead said something dumb. 😅

all 119 mm share means is there are 119 mm outstanding, doesnt mean they own them

Thank you for confirming, "...there are still 2 employees labeled as full-time and being paid." I suspected as much, and that is why I decided to continue my reading of Doc 309-1(?). Thanks also for keeping the link location visible.

No worries, SG44, I did not take your comments as being directed at me.

At issue are two mutually exclusive declarations. The first being in regards to the amended Combined Plan and Disclosure Statement, which greatly enhanced the Milestone Events. As we know, the Milestone Events can only be accomplished by the award of a BLA in the US, or regulatory approval from one of the foreign regulators, such as in Australia, approving lenz for CMML.

I think any event that would trigger the enactment of payment from the Milestone Events, would fully satisfy the Unsecured Creditors, leaving only the existing equity holders as claimants. I discussed this on June 1st.

"Existing equity holders were excluded from voting on the Combined Plan and Disclosure Statement. However, it was the Combined Plan and Disclosure Statement that vested sole discretion into the Liquidating Trustee to declare a Record Date for a Distribution to Existing Equity Holders. The Declaration of a Record Date would not adversely affect the superior claim holders in any way. In fact, it could add value to their claims, if certain Causes of Action are implemented."

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174526922

On June 3rd, the Debtor objected, "...to the Equity Claims identified on Exhibit A to the Proposed Order because such claims relate solely to the mere ownership of equity security interests in the Debtor (as opposed to a claim arising from such ownership). Therefore, the Equity Claims do
not constitute a “claim” within the meaning of section 101(5) of the Bankruptcy Code. "

I don't want to get fully into this, because I don't think there is a need to do so. But I will note what I said previously in this regard.

"I've never considered the PPS as reflective of the value of the stock. The value I have always considered was based on the projected value, when management recalls their loaned shares. It is for this reason that I have maintained open sell orders priced at $200.

Therefore, it is not mere ownership of shares that constitute my Equity Claim. My equity claim is based on a stated float that was reported at 192% of the Outstanding Shares, and knowing that excess shares in the market will have to be bought-in, in the event of a recall of the loaned shares, or a merger.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174621225

I hope the points I raised will be addressed by the Debtor's request to confirm the bankruptcy code in this highly unusual (but used previously by our predecessor company) circumstance.

"The Debtor intends to request
confirmation under section 1129(b) of the Bankruptcy Code with respect to any Class that has not
accepted or is deemed not to have accepted the Combined Plan and Disclosure Statement pursuant
to the terms of the Combined Plan and Disclosure Statement or section 1126 of the Bankruptcy
Code. The Debtor reserves the right to modify the Combined Plan and Disclosure Statement to
the extent, if any, that Confirmation pursuant to section 1129(b) of the Bankruptcy Code requires
any such modification."

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174659028

The judge cannot reconcile the expanded Milestone Events, with higher payments, to allowing the Liquidating Trustee to fail to declare a Record Date for a Distribution to Existing Equity Holders, should the judge feel that it is warranted. I hope the company wins the right to further modify the Combined Plan and Disclosure Statement, if management feels it is necessary, unless they simply move to discharge the bankruptcy entirely, which I think is ultimately going to be their only course.

The first monthly operating report in accordance with Chapter 11 requirements has been filed today and can be seen here:
https://document.epiq11.com/document/getdocumentbycode?docId=4348944&projectCode=HUM&source=DM

This does provide some insight into the current financial situation as well as some other things. Some key notes:
- Despite the Combined Plan stating that as of acceptance all employees will have officially resigned there are still 2 employees labeled as full-time and being paid.
- We can see the largest creditor still as Patheon at ~25mil of the total ~41mil in AP
- We can see HGENs common stock par value listed as ~119k. This is important because par value is $.001 per share indicating they still hold roughly ~120m shares.

Among many other things, I find these the most interesting. I'll continue to comb through when I have additional time.

I apologize if you took that any of my previous comments regarding off-topic conversation as being related to you. I assure you they were not. The comments I was targeting have since been removed from the board.

Anyway: The section you mention regarding Cramdown is a standard Chapter 11 practice in which the debtor aka filing company forces the outcome of the Chapter 11 on a class (like us) who would obviously vote against it.

1129(b) basically outlines that in order for a cramdown to commence the plan must be fair to all class holders. Fair being pretty open unfortunately. As an example, if Dale were to receive full price he paid for owned shares and we receive nothing, that would fall under unfair treatment of us as the specified class.

All in all, saying we as a class are forced into accepting this deal because the court deems it fair given the circumstances.

This is the most simplistic example I can think of in the way that I understand it. Take it with a grain of salt as I am certainly no expert on the matter.

I'm continuing my read of Doc 309-1, Exhibit A, Combined Plan and Disclosure Statement. I'll use this thread to post my notes.

"Nonconsensual Confirmation, i.e., “Cramdown”. The Debtor intends to request
confirmation under section 1129(b) of the Bankruptcy Code with respect to any Class that has not
accepted or is deemed not to have accepted the Combined Plan and Disclosure Statement pursuant
to the terms of the Combined Plan and Disclosure Statement or section 1126 of the Bankruptcy
Code. The Debtor reserves the right to modify the Combined Plan and Disclosure Statement to
the extent, if any, that Confirmation pursuant to section 1129(b) of the Bankruptcy Code requires
any such modification."

pg 45/85
https://document.epiq11.com/document/getdocumentsbydocket/?docketId=1089767&projectCode=HUM&docketNumber=309&source=DM

As I initially presented the following shocking information, some thought it was 'off-topic.' My bad, for wanting to share a feel-good video to offset the terrible information I was otherwise conveying.

So here is the peer-reviewed data that is incredulously true, as published in the esteemed British Medical Journal.

"Original Research | Published: 3 June 2024

Excess mortality across countries in the Western World since the COVID-19 pandemic: ‘Our World in Data’ estimates of January 2020 to December 2022...

Although COVID-19 vaccines were provided to guard civilians from suffering morbidity and mortality by the COVID-19 virus, suspected adverse events have been documented as well.15 The secondary analysis of the placebo-controlled, phase III randomised clinical trials of mRNA COVID-19 vaccines showed that the Pfizer trial had a 36% higher risk of serious adverse events in the vaccine group..."

see the 4th para of the Introduction
https://bmjpublichealth.bmj.com/content/2/1/e000282

The facts regarding excess deaths and Serious Adverse Events are spurring management's effort to align with high-powered allies, such as Sanofi and Novavax, to use Taran's patented covid vaccine enhancement.

Looks to me like the patents have finally transferred from Humanigen to Taran. If so, maybe that will lead the way to the release of news.

"Dr. Cameron Durrant, the Chief Executive Officer and Chairman of Taran stated, “I believe the potential benefits of lenzilumab can help numerous patients dealing with an array of illnesses and its development could save countless lives. I am encouraged by the court’s approval to sell the assets to Taran and thanks to SC&H’s process, I will be able to continue my work and lead the development of these products.”

“Dr. Durrant’s passion and dedication was evident from the first conversation I had with him,” added Matt LoCascio, Principal at SC&H Capital. “The opportunity for these assets to be developed further presents a chance to positively impact the lives of families dealing with incredibly serious ailments. We are confident Dr. Durrant will successfully lead the charge for approval and usage of these products.”

https://www.schgroup.com/press-release/scamph-capital-advises-humanigen-in-sale-to-taran-therapeutics/

You have literally been bring nothing. I'm fine with being proved wrong, but don't you think it's time to hear something from the company, not sure who's going to address since we have no ceo

I love hearing Lucie sing 'Voila.'

https://www.google.com/search?q=youtube%2C+lucie%2C+voila&oq=youtube%2C+lucie%2C+voila&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIICAEQABgWGB4yCggCEAAYgAQYogQyCggDEAAYgAQYogQyCggEEAAYgAQYogQyCggFEAAYgAQYogTSAQoyMDE5MGowajE1qAIIsAIB&sourceid=chrome&ie=UTF-8#fpstate=ive&vld=cid:9f9365db,vid:GRpZ1xUTj3k,st:0

But I'm going to love even more what 'Voila' means to us, when we hear it from Dubovsky.

He is no longer ceo because he took the asset and ran to Taran. This company is an empty shell.

In law. negligence is if you see harm done to someone and you don't prevent it, its called negligence. like not shovelling snow in front sidewalk or selling bad cars that is a known hazard risk ,and you know it's unsafe and still sell it.
What happening here is grand theft auto with gov't approval and blessing, which is the court here.
If there was no gov't, the fake creditors would not only get nothing but getting beaten up for asking for money they claim to be owed.. or giving fake fines and fake debts to anyone. that is the law in the streets or jungle.

Taran didn't have to agree to the milestone payments as a buyer. These asset purchase contigency or purchase obligations is why nobody would bid on the assets. in the closed auction. known as 'poison pill' in the supposedly open auction. Nobody would bid on hot assets with lien on it. The fake creditor committee are not entitled to anything after all the assets are liquidated and not enough to pay the their debts they 'claim' to be owed. Remember 40 million or 44 million of the debts are DISPUTED. The court and nobody ordered the buyer to give anything to the seller or the fake creditor committee who claimed to be ripped off. and owed money. of 40 million DISPUTED DEBTS.

Normally, in chapter 11 the shares of the bankrupt company is worthless as the creditors take ownership of the company and keep the assets.
In this case. all the assets were liquidated and sold like in chapter 7. so why even give the fake creditors anything?
The court didn't order taran to pay the milestone payments to the fake creditors like chime and patheon who claim to be owed 40 million of the total 44 million in debt which was the reason for the bankruptcy filing.
This is what smells rotten in this bankruptcy filing. The ip assets were sold for nothing and the taran was given over 2 million in accounts receivables and the cash of the company for the 2 million.

With the 2 million, the company cannot still repay the fake 44 million in debt, hgenq spent over 1-2 million in legal fees and in just the 6 months of bankruptcy filing wasted $500,000 in cost of bankruptcy filing and has no revenues.

The question why taran when even agree to pay hgenq or the trust account any money? Taran is the buyer and is NOT OBLIGATED to pay the milestone payments to the trust fund which is owned by the fake creditor committee.
The trust account has no reason or need to exist. after bankruptcy filing. so that is the question.

Thanks for that update, SorcererGuru44. I never finished reading the filing. If Durrant is no longer CEO of Humanigen, that would not stop our progress. We could see Dale's entities buy shares in Taran, if necessary. I don't think they'll go that route. I can't see the judge allowing the shares to be dissolved, if there was a proposed merger. Nor can I see why he would have expanded the number of Milestone Events, and increased the amount of the payments. It seems to me that the share structure is the most likely asset to be leveraged to meet the amended expansion of recovery.

Again, can we get back to the purpose of the board? I second guess myself posting comments like this because the trend shown is that it only adds another nonsensical post and furthers the outlier conversations that have nothing to do with the topic at hand.

Anyway: Even in January 3rd of this year it was made clear through Docket 7 the intent all along was not to restructure but at minimum dissolve sectors of Humanigen. Already Humanigen LTD (UK) has been entirely dissolved. When it comes to Taran, which has been nothing aside from a shell company for a few years there is currently nothing happening with it. No research, no manufacturing, no revenue, and no assets aside from those purchased from Humanigen.

I imagine the HGENQ ticker will remain in limbo for some time, as it looks like there is a plan between Taran and HGEN for the milestone payments to clear some of the secured creditors. Beyond that, it appears we are the new shell.

If I had a reliable method to reach Durrant myself I would just ask him. Unfortunately, with no one responding via hgen email addresses it seems like a null point.

As always, I hope you are correct.

From what I read in the text however, there is no longer a management team in existence. It was dissolved with the few remaining employees the other day.

Taran may still hold HGEN Shares, and that could indeed prompt him to do something like you describe to come out victorious on both sides of the spectrum here, but it may be a stretch.

you know why I know the LENZI drug ip asset has value?
Taran would not waste $2 million in legal fees and doing all this

You and I agree here.

This is basicallly CHAPTER 7 and is not chapter 11. There is no business, no employees, no assets once this case is concluded

We agree here as well.

Your next post is just babbling that could of been left out.

No, my friend, a stock-for-stock merger with Taran, or simply buying out Humanigen, would be anything but "pure generosity." Either move would result in a forced covering of short shares, just as a recall of the loaned shares would. And it looks to me like the news I have been waiting for is due to be released.

Any news regarding a merger announcement, a buyout, or a recall of the loaned shares, will have to be managed in a way I wouldn't know how to do, if my objective was to dissolve the company into Taran. Luckily for us, our management is one of the few with a demonstrated track record of success in this regard.

I really appreciate your post, and I hope for a Happy Monday for all of us.

intellectual property is why nividia stocks is worth billions, it has patents on certain code or technology and no other company can make or copy its Intellectual property. intellectual property is the new gold or asset class that didn't exist prior to the 20th century as there was no ip patent office. before the the 20th century. you cannot patent drugs or technology and no gov't protection. and even today, patents only for 20 years ,copyright protection only 50 years. and expires. the idea that someone can 'own' and technology or word is absurd in free market capitalism

This is basicallly CHAPTER 7 and is not chapter 11. There is no business, no employees, no assets once this case is concluded. all the hgenq shares is dissolved. whether Taran will issue NEW shares is the question and giving old hgenq shareholders who sold the company to taran for free is the question. it's a legal issue. to former shareholders or the person who sold the worthless assets. and buyer of the assets would be like buying an asset that has lien on it or dispute on it. and cannot sell the ip assets.

you know why I know the LENZI drug ip asset has value?
Taran would not waste $2 million in legal fees and doing all this show and this clown fake court hearing if the assets had no value. Theives don't bother robbing value village or steal worthless garbage. they only rob like jewellery stores not fruit stands or worthless junk.

No legitimate big pharma would buy an STOLEN asset if they know it's stolen. Its like this guy stole some statues and sold it to the museum. The museum didn't know it was stolen and thought he found it in some question, didn't ask where he stole the statue and paid the guy millions for the stolen artifacts. 30 years later the people who stature was stolen found the stolen artifact in some magazine and traced it back. The museum after 5 years was told to return the stolen artifact and refused or reluctant to return it.
In law, if someone has your stolen property, you can just go to the theives place where the stolen property is and just take it back. Obviously the person who artifact was stolen in another country cannot come to US to take the stolen property back, as the person who currently possesed the stolen property is protecting the stolen property with private security gaurds and the gov't protection of stolen property.

Happy Monday Jay,

You certainly are not wrong in the thought that all Taran has to do is offer their shares in exchange for HGEN shares. However, based solely on the information we know via the documented text I would hedge my bets that we will not receive anything.

At this point I feel I have read through every iteration of the Combined Plan and I do not see anything that points towards a positive.

When determining if Taran would do a share for share exchange, I have to ask myself: Why would he? He now has complete control of the asset and is under no obligation to do so. If he did, it would be out of pure generosity to existing HGEN shareholders, which doesn't make sense to me.

I actually posted video of Chime Biologics installing GE equipment, once the prefabbed extension of the facilities was completed in Wuhan. Some time later, I also posted pictures or video of Chinese citizens sitting in their cars outside of clinics, with IV trees rolled up to the cars, and I questioned what was in the IV bags. My concern in this regard was the propensity of the Chinese government to steal the technology, as we had done a technology transfer. I was further concerned that the Chinese government would nationalize the company. After all, we had agreed to let lenz be manufactured in China, but we had restricted them from selling this product in their own country. What bullshit! But this is what happens when political pressures are applied.

https://www.nasdaq.com/press-release/humanigen-and-chime-biologics-enter-into-manufacturing-agreement-for-covid-19

The Pantheon suit was significantly redacted, but the bottom line was that they failed to meet quality standards, and as I recall, they wanted paid for the inferior product. I think something similar occurred with Avid (or so said the FDA field inspector of the CDMO).

https://casetext.com/case/patheon-biologics-llc-v-humanigen-inc

The FAKE creditor committee was fake entity created by hgenq.
it's not like company was ORDERED to pay 44 million in liabilities or DEBTS.
40 million was DISPUTED and not a DEBT.
HGENQ didn't even object to the fake creditor claims since it was filing for chapter 11 and this entire chapter 11 process was fake.
Unlike debts like bank loans or bonds, gov't fines, taxes owed, that is debt that cannot be disputed.

the fake creditors of or the fake creditor commitee wont' get a dime from the trust. hgenq created the fake creditor committee, chime and patheon may not even have filed the claims. the lawyers know they won't get anything from their lawsuit. same with the shareholders who thought they can get any back from their 'settlement' of .047/share. chime an patheon won't get a dime of the 'claim' of 40 million. for 'breach of contract' lawsuits. there was no settlement or COURT ORDER to pay them the 40 million claim. claims are NOT debts like bonds or bank loans. or accounts receivables where the debtor signed to buy and received product or services RENDERED.

"The Creditors’ Committee initially objected to the sale to Taran ..."

"On May 20, 2024, the Reporting Persons announced that in light of recent developments at the Issuer, they have determined to withdraw their preliminary proxy statement and campaign against the re-election of the Class II directors..."

The two above statements apply to Humanigen/Taran, and to Novavax/Sanofi, respectively. They both represent an abrupt about-face from the opposition the creditors and investors had towards Humanigen and Novavax.

That's completely understandable. Humanigen's Unsecured Creditors were excited about the Asset Purchase Agreement (APA) in regards to monetizing Milestone Events, because that would be based on regulatory approval.

https://document.epiq11.com/document/getdocumentsbydocket/?docketId=1075977&projectCode=HUM&docketNumber=235&source=DM

And Novavax investors were excited about the removal of the company's going concern status, based on the co-exclusive licensing agreement they obtained with Sanofi.

To see some of the biggest stakeholders in Humanigen and Novavax abruptly cease their opposition to the directions of these two companies, foretells their unfolding success, which has been all too obvious to some of us, for quite some time.

you cannot save a company that wants to go bankrupt. or don't care if goes bankrupt. someone or some short position wanted the company to declare chapter 11 and shares become worthless.. they sold over 160 million worth of equity in 2020/2021 in the market.
now it's bankrupt they bought the assets back for nothing for free. and resell the lenzi asset for billions. gain and raise new equity. that was the entire scheme. you think if the lenzi assets are worth $1 billion they sell it for $100 million? any drug that is approved by the FDA has sales is worth at least 1 billion. that big pharma would pay for it. it cost over 100-200 million to develop a new drug today in 2024 from stage 1 to FDA approval

And for the .047/share legal settlement by former disgruntled fake shareholders, the award of $3 million was a settlement or out of court settlement that it agree to pay not ordered to pay by a judge or juror., The judge or juror would have awarded nothing to the shareholder lawsuit but since hgenq bought insurance on this type of lawsuit it agrees to pay $3 million. it collects the $5 million from insurance company. it only paid $500,000 for one year of insurance premium and made 4.5 million in insurance fraud payout. As for the shareholders who paid the law firm to get civil court hearing, they won't get anything as all the money is in some trust fund and they are last in line to the fake creditors. the company wanted to have the fake lawsuit which made it impossible to raise additional equity from the equities market. the company admitted wrong doing intentionally and wanted to settle as they won't pay a dime to the fake lawsuit and get the case out of court. but the lawsuit was death sentence to the company's ability to raise new equity from new shareholders.

The reasons Taran would buy Humanigen's stock, or enter into a stock-for-stock merger, were confirmed by several things, most importantly, the amended Asset Purchase Agreement. Add to that the recently announced co-exclusive licensing agreement between Sanofi and Novavax, and the pending spinoff of Sanofi's healthcare sector, at the same time that Novavax's former President of R&D will become available, possibly to oversee the integration of Sanofi's spinoff with Novavax. Dubovsky may also integrate some of the other 25 M&A candidates Sanofi is looking at. In the nearer term, we will likely turn to Sanofi to manufacture lenz, especially for CMML and aGvHD, plus for some of the 77 oncology, etc., trials that Sanofi has in progress, and where lenz could prove to be beneficial.

Due to some countries with inadequate funding for civil courts, the complainant is denied justice from delays in hearings due to backlog of years delays in filing court filings and high legal cost, and the accused just leaves the country and/or settles. Due to long legal cost, most people with no funds for legal representation don't even bother going to court. In wall street, SEC don't even bother with 97% of investors complaints of wrong doing of listed companies like investor fraud or 'investment fraud' complaints, ie many civil cases are just settled like lawsuits on insurance companies in car insurance. rather than lengthy court hearings if they admit to wrong doing under tort law.

What Is Litigation?

In the United States, anyone can seek a remedy in the public court system.

A plaintiff (a person who initiates a case and makes a formal legal complaint) files paperwork with the court to get the process started. The defendant (the person who the plaintiff has a legal issue with) is required to come to court if the court has authority (jurisdiction) over them.

When a plaintiff initiates a legal claim, the plaintiff has the burden of providing evidence and proving their case.

The defendant can ask for the case to be dismissed if there is insufficient evidence to proceed or can raise defenses and argue that the plaintiff’s evidence is not true or doesn’t meet the legal requirements.

A judge or a jury will then make a decision on the outcome of the case, which the parties are bound by unless it is overturned on appeal.

In some countries litigation can take couple of years from beginning to end. as there is waiting list in many courts. an delay in justice is a denial justice, which many gov't don't understand. In countries under MARTIAL LAW, decisions are handed out in days. not years because civil lawsuits are too numerous and backlog and 'not considered a priority.' or serious CRIME and often the penalty is just a monetary compensation and no prison.


The Litigation Process

There are different steps to the litigation process, which may vary slightly depending on the court the claim is filed in and the nature of the case. In general, however, this is the basic process involved in litigation:

A plaintiff files a complaint with the court. The plaintiff must state the legal grounds their action is based on. For example, a plaintiff could petition for divorce or could make a personal injury claim under tort laws alleging a negligent defendant harmed them.
A defendant is served with court paperwork (or waives service of process if applicable). The court must have jurisdiction over the parties and over the case. This means the plaintiff and/or defendant must have sufficient connection to the area (such as by living or doing business in the area where the claim was filed) and that the court must have legal authority to decide on the issues raised by the case.
The defendant may file an answer. This means the defendant has the ability to respond to the complaint the plaintiff has made.
Initial motions are filed. The parties file motions, which are requests they want to make to the court. The defendant can file counterclaims, which means they raise separate legal claims against the plaintiff.
The discovery process unfolds. The parties exchange evidence during discovery. Either party may file motions asking the court to require the other party to produce specific relevant evidence. For example, a plaintiff could ask the court to compel the defendant to turn over financial statements they believe are being hidden.
Pre-trial conferences take place: Usually, there are several pre-trial conferences throughout the process. During these conferences, scheduling issues are addressed and the parties have a chance to talk and consider settlement options.
A trial takes place. Both parties call witnesses, cross-examine each other’s witnesses and present evidence. The plaintiff presents first and has the legal burden of proving their claim. The defendant has the opportunity to raise defenses, call the plaintiff’s evidence into question or ask for the case to be dismissed if there’s not enough evidence. There is a specific burden of proof applied to the plaintiff. For example, in most personal injury claims, a plaintiff must prove their case by a preponderance of the evidence, or show that more likely than not their claims against the defendant are true and valid legal claims.
A judgment is entered. A judge or a jury decides the case.
One or more parties may appeal. This means they ask an appeals court to reconsider decisions made on legal (but generally not factual) issues raised in the original case. For example, a plaintiff or defendant could ask the appeals court to consider whether evidence should have been ruled admissible or whether the law was applied correctly, but not to reconsider whether a particular witness presented compelling testimony or not.
Judgment is enforced. If there are no successful appeals, the judgment is enforced.

Every step of this process requires following complex rules of evidence, ensuring you’ve submitted the proper court paperwork and complying with court deadlines. You should have an experienced attorney helping you throughout the entire litigation process.

The only legal issue is whether Taran can claim it owns an asset it bought for free that is supposedly worth $1 billion.
It assumes the seller hgenq agrees to transfer an asset worth 1 billion for free.
In law. it's money laundering, it's like selling your house which is worth 10 million to someone for free. you are also the buyer and seller.? to hide the assets and not pay the tax on the sale .
the gov't gets tax on all assets transferred.
that is some legal issue.

you one of those investors think you can buy shares of once $100 stock for 1 penny? pfff.
hgen shares was trading at $5/share for a reason because if FDA approved it,,the shares are worth $16/share
you think people would sell your shares worth $5 for 4 cents? pfffff the shares are worthless when they sold it at 5 cents. the shorts covered at 4 cents. that was the only buyer. now at here
no buyers zip. no volume

you actually niave or foolish that you can actually buy someothing for 10 cents on the dollar and don't think it is not stolen. why would someone sell you something for 90% discount?

why you think hot stuff gets like 10 cents on the dollar. the buyer of Lenzi= can trace the 'stolen' product. and knows it's 'stolen' there is no way someone would sell an asset worth 1 billion for free, OKAY!!!

only reason they would do that is if the Taran who currently owns of the 'potential' $1 billion Lenzi patent that it bought for FREE gets approved by the FDA but no buyer will buy a 'STOLEN' product that that has lien on it or litigation.