Ann: Ikon Legal Action - Decision, page-6

First, let me thank MajorJonny for directing us to the Publicly Listed articles regarding Ikon and Advangen legal actions. For the first time, I understand the issue. Cellmid never explained exactly what the issue was; but they have never been transparent any way. I agree with MajorJonny and Phillit, this should never have turned into a legal action. It is a no brainer that there was no way Cellmid could have won this case. Maria was utterly and completely wrong to refuse payment. Full Stop.
The judge has been very lenient to Cellmid asking them to fully repay the agreed cost. The other costs that may be incurred or have been incurred will be interest to the amount, legal costs both sides and negative impact to the share price.
Cash wise, Cellmid will be about a million dollars worse off. Accounting wise, perhaps they have provided for this amount in their accounts.
On another related issue, I personally do not think there was any need for a 2 day trading halt. The announcement would have been enough. It just attract attention and opens up can of worms.
The Cellmid saga and the CEO continues.