ut Cytori didn't disclose Lorem Vascular was incorporated as a new Australian company on Oct. 24, according to a registration document filed with the Australian Securities & Investments Commission. An investor tracked down the document and passed it along to me Tuesday afternoon. A Cytori spokeswoman confirmed the document's authenticity.
Lorem Vascular was incorporated just five days before entering into the licensing agreement with Cytori, according to an 8-K filed with the Securities and Exchange Commission.
Lorem Vascular's lead director listed on the Australian document is Kian Thiam Lim. Its business address is Level 12, 2 Queen St, Melbourne, Australia.
This is the same business address for Victoria Investments and Properties, a real estate development and services company run by Kian Thiam Lim.
A Cytori spokeswoman confirmed Kian Thiam Lim is the "K.T. Lim" mentioned in the company's Monday night press release.
Lorem Vascular is "well capitalized" and was "vetted" by Cytori before the partnership was signed, the spokeswoman said. "As a courtesy, Cytori offered to assist in building out a website for them [Lorem Vascular] so there would be something available on the day of the announcement."
The Lorem Vascular web site -- a single-page introductory message -- was registered on Oct. 24 by a Cytori employee.
Cytori says the Lorem Vascular partnership is worth up to $531 million but almost all of this potential cash is contingent on stem-cell therapy sales not yet realized.
All he said really was the Lim set up a business to feed money to Cytori (separate from his real estate accounts). This is not uncommon and neither is a contingency to loan money based on business performance.
Looks to me like Adam is trying to pull some funny stuff. It's not nice to make a new productive and lucrative partnership look bad because it is not yet established. This is the time to get in in my opinion!
Fuerstein is #$%$ period... now you know why the stock reversed yesterday at 3.90 he and his friends shorted the stock there ahead of this #$%$ BS article... he also had to put it out today because the company will address his lies in the cc tomorrow his allegations are of no value everything disclosed is accurate.. There are upfront fees and stock purchases and the sales will come , considering the markets they are in ... Short term hit but will recover fully tomorrow I really hope some big funds put the boots to this loser who has been sued for his "style" of journalism.. This is my opinion just like the garbage he puts out is his opinion....