Global Immune (PINK:GIMU)

Due to the lawsuits against the previous managements of GLGT, the company had been effected with several lawsuits (California and New York) for alleged corporate debts, plus certain activities of some of the GLGT previous management. This complicated the current management's search for a suitable merger candidate. The company is back in talks with a China-based Chemical Company with substantial assets. This company is willing to try and enter the North American public markets through GLGT, notwithstanding the liabilities associated. This chemical company is willing to find a suitable and reasonable way to settle the lawsuits and debts over time, and continue to revive GLGT.

Source: PR Newswire