I could be mistaken but my recollection is that BP didnt actually have any manufacturing facilities. They were looking at using the funds to construct one!
So where did the funds from the IPO go and what were they used for?....
Also, from what I recall there are 2 issues between EMS and BP. 1) The ability of BP to perform their obligations as part of the licensing agreement (ie to manufacture Artimist), 2) The treatment of the euro8m of BP shares that EMS received in exchange for the manufacturing rights, and whether the administrator has any claim to this.
Either way, it has been wuite a while since we have heard something so hopefully we get an update shortly.
EMS Price at posting:
1.5¢ Sentiment: None Disclosure: Held
