Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Investment in Macrophage Therapeutics, Inc.

v3.21.2
Note 7 - Investment in Macrophage Therapeutics, Inc.
6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]

7.

Investment in Macrophage Therapeutics, Inc.

 

In August 2018, Dr. Michael Goldberg resigned from his positions as an executive officer and a director of Navidea. In connection with Dr. Goldberg’s resignation, Navidea and Dr. Goldberg entered into an Agreement (the “Goldberg Agreement”), with the intent of entering into one or more additional definitive agreements, which set forth the terms of the separation from service. In February 2019, the MT Board removed Dr. Goldberg as President and Chief Executive Officer of MT and from any other office of MT to which he may have been appointed or in which he was serving. Dr. Goldberg remains a member of the MT Board, together with Michael Rice and Dr. Claudine Bruck. Dr. Bruck remains a member of the board of directors of Navidea. The MT Board then appointed Jed A. Latkin to serve as President and Chief Executive Officer of MT. On or about December 18, 2020 the Joint Official Liquidators and Foreign Representatives of Platinum Partners Value Arbitrage Fund L.P. sent a letter to MT directing that Dr. Goldberg be removed from the MT Board. The MT Board has taken no action in response. See Note 11 with respect to the litigation matters related to Dr. Goldberg in Note 7.