SEC Info℠

Home

Search

My Interests

Help

Sign In

Please Sign In

Regnum Corp. – ‘10-Q’ for 6/30/22

On:  Tuesday, 8/16/22, at 1:43pm ET   ·   For:  6/30/22   ·   Accession #:  1477932-22-6176   ·   File #:  333-222083

Previous ‘10-Q’:  ‘10-Q’ on 5/23/22 for 3/31/22   ·   Next:  ‘10-Q’ on 11/14/22 for 9/30/22   ·   Latest:  ‘10-Q’ on 5/15/23 for 3/31/23

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

 Text Wildcards:  ? (any letter/digit),  * (many).  Search Logic:  for Documents:  & (and),  | (or);  for Text:  | (anywhere),  "(&)" (near).  Details... 

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/16/22  Regnum Corp.                      10-Q        6/30/22   38:1.6M                                   Discount Edgar/FA

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    357K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     17K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     17K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     12K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     12K 
11: R1          Cover                                               HTML     63K 
12: R2          Condensed Balance Sheets                            HTML     85K 
13: R3          Condensed Balance Sheets (Parenthetical)            HTML     21K 
14: R4          Condensed Statements of Operations (Unaudited)      HTML     71K 
15: R5          Condensed Statements of Stockholders Deficit        HTML     44K 
                (Unaudited)                                                      
16: R6          Condensed Statements of Cash Flows (Unaudited)      HTML     60K 
17: R7          Organization and Description of Business            HTML     20K 
18: R8          Summary of Significant Accounting Policies          HTML     31K 
19: R9          Stockholders Equity                                 HTML     19K 
20: R10         Related Party Transactions                          HTML     21K 
21: R11         Income Taxes                                        HTML     28K 
22: R12         Concentration                                       HTML     15K 
23: R13         Change in Control of the Company                    HTML     15K 
24: R14         Commitements and Contigencies                       HTML     16K 
25: R15         Subsequent Events                                   HTML     15K 
26: R16         Summary of Significant Accounting Policies          HTML     56K 
                (Policies)                                                       
27: R17         Income Taxes (Tables)                               HTML     28K 
28: R18         Summary of Significant Accounting Policies          HTML     16K 
                (Details Narrative)                                              
29: R19         Stockholders Equity (Details Narrative)             HTML     19K 
30: R20         Related Party Transactions (Details Narrative)      HTML     42K 
31: R21         Income Taxes (Details)                              HTML     20K 
32: R22         Income Taxes (Details 1)                            HTML     20K 
33: R23         Change in Control of the Company (Details           HTML     25K 
                Narrative)                                                       
36: XML         IDEA XML File -- Filing Summary                      XML     57K 
34: XML         XBRL Instance -- rgmp_10q_htm                        XML    268K 
35: EXCEL       IDEA Workbook of Financial Reports                  XLSX     50K 
 8: EX-101.CAL  XBRL Calculations -- rgmp-20220630_cal               XML     72K 
10: EX-101.DEF  XBRL Definitions -- rgmp-20220630_def                XML     84K 
 7: EX-101.LAB  XBRL Labels -- rgmp-20220630_lab                     XML    309K 
 9: EX-101.PRE  XBRL Presentations -- rgmp-20220630_pre              XML    221K 
 6: EX-101.SCH  XBRL Schema -- rgmp-20220630                         XSD     59K 
37: JSON        XBRL Instance as JSON Data -- MetaLinks              143±   195K 
38: ZIP         XBRL Zipped Folder -- 0001477932-22-006176-xbrl      Zip     87K 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM  i 10-Q

(Mark One)

For the fiscal three months ended  i June 30, 2022

OR

For the transition period from: _____________to______________

 i 333-222083

(Commission File Number)

 i 600 Third Avenue,  i 19th Floor

 i New York,  i NY  i 10016

(Address of Principal Executive Office) (Zip Code)

( i 877)  i 313-2232

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☒ No ☐

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  i Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  i Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  i ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  i ☐ No ☒

As of August 15, 2022, there were  i 22,950,000 shares of common stock issued and outstanding.

TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

REGNUM CORP.

CONDENSED BALANCE SHEETS

The accompanying notes are an integral part of these financial statements.

REGNUM CORP

CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)

The accompanying notes are an integral part of these financial statements.

The accompanying notes are an integral part of these financial statements.

REGNUM CORP.

CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

The accompanying notes are an integral part of these financial statements.

REGNUM CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2022 and DECEMBER 31, 2021

(Unaudited)

Accounting Basis

Cash and Cash Equivalents

Revenue Recognition

Impairment of Long-Lived Assets

Fair Value of Financial Instruments

In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has not elected the fair value option for any eligible financial instruments. There have been no transfers between fair value levels during the six months ended June 30, 2022 or the year ended December 31, 2021. Financial instruments are measured at amortized cost or at fair value. Financial instruments measured at amortized cost consist of accounts payable, accrued liabilities and income taxes payable wherein the carrying value approximates fair value due to its short-term nature. Other financial instruments measured at amortized cost include notes payables wherein the carrying value at the effective interest rate approximates fair value as the interest rate approximates a market rate for similar instruments offered to the Company.

Income Taxes

Recent Accounting Pronouncements

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

Cautionary Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q (the “Quarterly Report”) contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are not statements of historical fact and involve a number of risks and uncertainties. We caution the readers that forward-looking statements are not a guarantee of future performance and that actual results could differ materially from those contained in such forward-looking statements. All statements, other than statements of historical fact included in this Quarterly Report including, without limitation, statements in this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” regarding the Company’s financial position, business strategy and the plans and objectives of management for future operations, are forward-looking statements. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “plan,” “seek,” “should,” “will,” and variations and other similar words and expressions are intended to identify such forward-looking statements.

These forward-looking statements are based on the current beliefs and expectations of our management, and are subject to significant risks and uncertainties. If the underlying assumptions prove incorrect or unknown risks or uncertainties materialize, actual results could differ materially from our current expectations. These risks and uncertainties include those factors described in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2021. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those anticipated in these forward-looking statements. All subsequent written or oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained in this section. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Quarterly Report.

Business Overview

Regnum Corp. was incorporated on March 31, 2016, under the laws of the State of Nevada. The Company was formed for a primary business purpose of servicing the increasing demand for premium entertainment content and becoming a depository of unpublished intellectual properties for resale with focus on achieving profitability and sustaining business growth. Following the acquisition by Phoenixus AG (“Phoenixus”) on April 7, 2021, the Company’s prior business model was abandoned.

Business Outlook

Since April 2021, the Company’s business model is focused on developing and commercializing therapeutics that treat rare and infectious diseases, specifically in populations that are neglected or face adherence challenges due to inconvenient dosing or delivery system, tolerability, or cost and accessibility of available therapeutic options. Under certain license and commercial agreements with CytoDyn which were assigned to the Company in January 2022, the Company’s primary asset is the commercial rights to leronlimab (also known as “PRO 140”) in all human immunodeficiency virus (“HIV”) indications within the United States. Leronlimab is the subject of a current Biologics License Application (“BLA”) that has been submitted in part to the U.S. Food and Drug Administration (“FDA”) with an indication to treat Multi-Drug Resistant HIV infection, with the potential for multiple additional therapeutic indications in HIV. As of the date of this report, the FDA’s review of the BLA is ongoing. Since the FDA approval process is ongoing and its outcome is uncertain, we are also seeking to acquire or in-license other pharmaceutical products or product candidates, although no products have been identified to date.

The Company is party to the following service agreements with Vyera, which is a subsidiary of Phoenixus: (i) a Management and Business Consulting Agreement, wherein Vyera is the service provider; (ii) a Shared Services Agreement; and (iii) a Research and Development Services Agreement (collectively, the “Shared Services Agreements”). Through these Shared Services Agreements, Regnum can receive and provide general and administrative support, and Regnum is able to receive management level business strategy consulting and research and development services. Services are invoiced to each party at an arm’s length markup. Disruption or interruption of any of these Shared Services Agreements, while not anticipated, could interfere in continuity of our operations.

Trends Affecting Our Business

Our industry is highly dynamic and competitive, with technological and scientific innovation paving the way for new products that may transform our industry. We anticipate the recent capital markets downturn in the biotechnology sector to affect our ability to secure additional funding. We do not currently generate revenue from product sales and anticipate we will need additional funding in order to continue our operations at their current levels, to conduct our commercialization activities for leronlimab if it is approved by the FDA, and to pay the costs associated with being a public company, for the next 12 months. To the extent we in-license or acquire additional products or technologies, we will also require additional funding in the future to support our operations. Additional financing may not be available to us on terms that are acceptable or at all.

Plan of Operations

We had negative working capital of $851,619 as of June 30, 2022. We anticipate the need for additional funding in order to continue our operations at their current levels, and to pay the costs associated with being a public company. We may also require additional funding in the future to expand or complete acquisitions. In the event we require additional funding, we plan to raise the necessary funding through the sale of debt or equity, which may not be available on favorable terms, if at all, and may, if sold, cause significant dilution to existing stockholders. If we are unable to access additional capital moving forward, it may hurt our ability to grow and to generate future revenues.

We reiterate that the Company’s business plan changed significantly and materially in April 2021, during the period for which the comparative financial statements presented hereby cover. As a result, financial results for 2021 do not represent the Company’s potential results in the future.

RESULTS OF OPERATIONS

Comparison of the six month period ended June 30, 2022 with the six month period ended June 30, 2021

Revenue

We had no revenue for the six months ended June 30, 2022, or June 30, 2021, which was the result of a change in business model as Wookey sold the controlling shares to Phoenixus in April of 2021.

Our operating expenses for the six months ended June 30, 2022 were $449,481, which consisted of $164,110 for legal and professional fees, general and administrative expenses of $285,371, and interest expense of $22,315. For the six months ended June 30, 2021, operating expenses were $15,849, which consisted of legal and professional fees of $14,384, and general and administrative expenses of $1,465. The majority of legal and professional fees in the first six months of 2022 were related to assignment of Commercial and License Agreement and Supply Agreement, due diligence related to business development efforts, and auditing. The increase in general and administrative expenses is related to services provided under shared services agreements entered in September of 2021.

The Company had a net loss of $471,796 for the six months ended June 30, 2022, as compared to net income of $93,175 for the six months ended June 30, 2021. The net income for the first six months of 2021 was the result of accounting entries recorded to Other Income in connection with forgiveness of debt by Wookey Project and Wookey Search (both related parties) and reversal of an expense upon cancellation of 1,000,000 shares of stock granted to Gary Allen for services. The increase in net loss is due to increased expenses for legal and professional fees and general and administrative expenses as the Company works to execute its new business model and identify business development opportunities.

Liquidity and Capital Resources

The Company’s cash position was $1,263,133 on June 30, 2022, and $0 on June 30, 2021. The increase in cash is the result of funds received in October of 2021 under a promissory note from the Company’s principal shareholder, Phoenixus, to support clinical development and general expenses. As of June 30, 2022, the Company had current assets of $1,357,808 and current liabilities of $2,209,427 as compared to $1,488,919 and $1,868,742, respectively, as of December 31, 2021. This resulted in negative working capital of $851,619 on June 30, 2022, and $379,823 on December 31, 2021.

Net cash (used in) provided by operating activities

For the six months ended June 30, 2022, net cash used in operating activities amounted to $225,286, as compared to using $0 net cash for the six months ended June 30, 2021. The increase in net cash used is a result of payments made to third parties for Legal and Professional and General and Administrative expenses.

Net cash (used in) provided by investing activities

Net cash used in investing activities was $0 for the six months ended June 30, 2022 and 2021.

Net cash used in financing activities

Net cash provided by financing activities was $0 for the six months ended June 30, 2022 and 2021.

Net cash (used in) provided by financing activities

We do not currently have any additional commitments or identified sources of additional capital from third parties or from our officers, directors, or majority stockholders. Additional financing may not be available on favorable terms, if at all.

In the future, we may be required to seek additional capital by selling additional debt or equity securities, or otherwise be required to bring cash flows in balance when we approach a condition of cash insufficiency. The sale of additional equity or debt securities, if accomplished, may result in dilution to our then stockholders. Financing may not be available in amounts or on terms acceptable to us, or at all. In the event we are unable to raise additional funding and/or obtain revenues sufficient to support our expenses, we may be forced to curtail or abandon our business operations, and any investment in the Company could become worthless.

Critical Accounting Policies

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with U.S. GAAP. The preparation of these financial statements requires us to make assumptions, estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. We monitor our estimates on an ongoing basis for changes in facts and circumstances, and material changes in these estimates could occur in the future. Changes in estimates are recorded in the period in which they become known. We base our estimates on historical experience and other assumptions that we believe to be reasonable under the circumstances. Actual results may differ from our estimates if past experience or other assumptions do not turn out to be substantially accurate.

Certain of our accounting policies are particularly important to the portrayal and understanding of our financial position and results of operations and require us to apply significant judgment in their application. As a result, these policies are subject to an inherent degree of uncertainty. Our critical accounting policies are outlined in “Note 1 - Summary of Significant Accounting Policies” to the financial statements included elsewhere in this Quarterly Report.

Emerging Growth Company

Section 107 of the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) provides that an “emerging growth company” can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an “emerging growth company” can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

Recently Issued Accounting Standards

For more information on recently issued accounting standards, see “Note 1 - Summary of Significant Accounting Policies” to the financial statements included elsewhere in this Quarterly Report.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

As a “smaller reporting company,” we are not required to provide the information required by this Item 3.

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

The Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Company’s reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Company’s management, including the Company’s President and Chief Executive Officer (who is the Company’s Principal Executive Officer) and the Company’s Chief Financial Officer and Treasurer (who is the Company’s Principal Financial Officer and Principal Accounting Officer) to allow for timely decisions regarding required disclosure. In designing and evaluating the Company’s disclosure controls and procedures, the Company’s management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and the Company’s management is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

Management’s Report on Internal Control over Financial Reporting

As required by Rules 13a-15 and 15d-15 under the Exchange Act, our Chief Executive Officer and Chief Financial Officer carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of June 30, 2022. Based upon their evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures (as such are defined under Rules 13a-15(e) and 15d-15(e) of the Exchange Act) were effective as of June 30, 2022. Our system of internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. GAAP.

Changes in Internal Control Over Financial Reporting

Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, performed an evaluation to determine whether any changes in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) occurred during the six-month period ended June 30, 2022. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that no change occurred in the Company’s internal control over financial reporting during the six-month period ended June 30, 2022, that has materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Limitations on Effectiveness of Control

Our management, including our Chief Executive Officer and our Chief Financial Officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all errors and all fraud. We believe that a control system, no matter how well designed and operated, cannot provide absolute assurance that the objectives of the control system are met. Further, we believe that because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

ITEM 1A. RISK FACTORS.

Risk factors describing the major risks to our business can be found under Item 1A, “Risk Factors,” in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on April 15, 2022. Except for the matters disclosed in this Report (including the disclosures contained in Item 5 below), there has been no material change in our risk factors from those previously discussed in the Annual Report on Form 10-K.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF THE PROCEEDS.

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

In December 2021, our majority shareholder, Phoenixus AG (“Phoenixus”), and our affiliated company, Vyera Pharmaceuticals, LLC (“Vyera”), which is wholly-owned by Phoenixus, settled a litigation with the U.S. Federal Trade Commission and several U.S. states captioned Federal Trade Commission, et al. v. Vyera Pharmaceuticals, LLC, et al., Case No. 20-cv-00706 (the “FTC Case”). In connection with such settlement of the FTC Case, Vyera and Phoenixus became subject to a Stipulated Order for Permanent Injunction and Equitable Monetary Relief that was entered in connection with the settlement of the FTC Case (the “Stipulated Order”) as well as a Settlement Agreement entered in connection with the settlement of a related class action (the “Class Settlement Agreement”). The Stipulated Order and the Class Settlement Agreement set forth a number of obligations and constraints. Many (but not all) of these obligations and constraints are expressly applicable to the “Corporate Defendants,” which is a defined term whose meaning includes Vyera and Phoenixus, along with their “subsidiaries . . . and affiliates controlled by [Vyera and Phoenixus].” As such, we believe certain of the terms and provisions of the Stipulated Order and the Class Settlement Agreement apply to our company since we are controlled by Phoenixus. These terms and provisions could have a material adverse effect on our ability to establish our business as an independent pharmaceutical company.

The following summary of the terms of the Stipulated Order and the Class Settlement Agreement, as well as their application to our company, is intended solely as a summary, and not as an exhaustive recitation of all of the obligations and constraints imposed by the Stipulated Order and the Class Settlement Agreement. Reference should be made to the Stipulated Order and the Class Settlement Agreement (each of which are publicly available for review) for a complete explanation of their terms.

1. Subject to certain limited exceptions, the Corporate Defendants (including Regnum) are prohibited from engaging in certain business activities and from entering into certain types of agreements, including specifically any agreement that prohibits, interferes with, or restricts a third party from providing the Corporate Defendants’ drug products to another pharmaceutical company for the purpose of developing a therapeutic equivalent or biosimilar of the drug product; any agreement that restricts in any way any third party manufacturer of an active pharmaceutical ingredient (“API”) from providing that API to another pharmaceutical company; and any agreement that restricts any third party from selling or otherwise providing pharmaceutical sales data regarding the Corporate Defendants’ drug products. The Corporate Defendants (including Regnum) are also generally prohibited from doing business with Martin Shkreli and Kevin Mulleady, each an individual formerly associated with Vyera and/or Phoenixus.

2. The Corporate Defendants (including Regnum) are required to provide a notice to customers and suppliers regarding the terms of the Stipulated Order.

3. The Corporate Defendants (including Regnum) are required to agree to sell drug products to other pharmaceutical companies for use in developing a generic or biosimilar drug product, subject to certain specifications and qualifications.

4. Vyera and Phoenixus are required to make certain contingent payments upon the occurrence of certain triggering events. Generally speaking, these contingent payments are to be comprised of 20% of the net proceeds of the sale or other monetization of certain “Corporate Assets.” Although the obligation to make contingent payments does not specifically require Regnum to make contingent payments itself, the definition of “Corporate Assets” encompasses assets held by Regnum (subject to certain exclusions). Thus, Regnum’s sale or other monetization of any non-excluded asset is likely to trigger a contingent payment obligation on the part of Vyera and/or Phoenixus. This, in turn, could require our company to make payments or distributions over to Vyera and/or Phoenixus.

5. The Corporate Defendants (including Regnum) are required to provide advance written notice to the plaintiffs of certain contemplated transactions, including the acquisition from a third party of a pharmaceutical company, any rights or interest in a pharmaceutical company, or any exclusive rights to market, distribute, or sell any FDA-approved drug product.

6. Vyera and Phoenixus are required to comply with certain compliance reporting obligations, including without limitation the submission of an annual compliance report. These compliance reporting obligations do not specifically require Regnum or other subsidiaries or affiliates to submit their own compliance reports. However, certain information from or regarding Regnum may need to be included in the compliance reports submitted by Vyera and Phoenixus, as more fully described in the Stipulated Order and the Class Settlement Agreement.

7. The Corporate Defendants (including Regnum) are obligated to provide access to certain business records upon the request of the plaintiffs, subject to specific terms and limitations.

8. In connection with the settlement of the FTC Case and the related class action, Vyera and Phoenixus entered into Collateral Assignment and Security Agreements, which generally provide the plaintiffs with security interests in certain “collateral,” which may encompass certain assets held by Regnum. Accordingly, to the extent that Regnum intends to transfer or otherwise dispose of covered collateral, prior notice to, and approval from, the collateral agent may be required.

Each of these terms could adversely impact our ability, among other things, to (i) establish our business as a pharmaceutical company, (ii) attract and secure third-party financing; or (iii) acquire or in-license new intellectual property or (iv) enter into other necessary commercial relationships. If all or any one of these adverse effects occur, our business and business prospects could be harmed to a significant extent.

ITEM 6. EXHIBITS.

The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.

 __________

* Filed herewith.

** Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing		Date		Other Filings
		12/31/22
Filed on:		8/16/22		NT 10-Q
		8/15/22
		7/28/22
For Period end:		6/30/22		NT 10-Q
		4/15/22		10-K
		3/31/22		10-Q,  NT 10-K,  NT 10-Q
		1/3/22		8-K
		12/31/21		10-K,  NT 10-K
		10/21/21
		10/8/21		8-K
		9/1/21		8-K
		6/30/21		10-Q,  NT 10-Q
		5/13/21		8-K
		4/7/21		8-K
		3/31/21		10-Q
		12/31/20		10-K,  NT 10-K
		12/15/20
		12/17/19
		12/15/19
		3/31/16
				List all Filings

↑Top

---

Filing Submission 0001477932-22-006176   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

---

---

Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
About — Privacy — Redactions — Help — Fri., Apr. 26, 6:53:15.1pm ET