They need to pay to fix the breech of contract and move on. The saddest thing is the ignorance of the CEO about the License that gives life to their company. They have been brought back to reality to what they can and can't do under the license. They will need to pay royalties to Dyadic and milestone payments and move on. It is a crime for a CEO to be that ignorant about the license that gives them the right to operate. Operating under the license is the only recourse and it is not the end but rather the true beginning. Bio fuels is out unless with Shell and they can sell their enzyme technology in the bio fuel arena to Dyadic.
My God, the company CEO is almost explicitly saying on his CC that his company can't exist, in ANY way, shape or form, without the Dyadic license. (NO ALTERNATIVE RECOURSE) His honesty is frightening, but appreciated.
Seems like Dyadic can now "buy" CDXS as a production house. Could get really interesting for both companies. Maybe a SHOTGUN wedding, with DYAI holding the weapon.
ALL MOOT OF COURSE ...IF... DYAI is in the wrong and merely bullying. Otherwise, CDXS is done in it's current form. Bayer could provide the capital for DYAI if needed to absorb CDXS. Seems like CDXS is now sitting on a 3-legged chair that is about to lose the other leg(s).
Joe, they need to pay according to the contract and move on. IMO, less than a couple of million would fix the breech and they can move on, paying royalties. That is the structure they have been working under whether the CEO knew it or not, That is their only recourse and it is viable and doable. He must feel like a total #$%$. The biofuel arena is closed to them unless they renegotiate with Dyadic or renegotiate with Shell. The structure of other research agreements negotiated in ignorance will need to be reviewed. They can't grant rights they don't own CDXS credibility has to be rebuilt for the company to continue.