Ted Karkus was pretty sure that the arbitrator would rule in...

Ted Karkus was pretty sure that the arbitrator would rule in their favor. This is from the transcript of their Q2 earnings call. I for one am very happy. Sorry Ted!



Operator
[Operator Instructions] We have a follow up question from the line of Mr. William Lab.
Unidentified Analyst
Thanks, Ted. Ted what’s the arbitration about?
Ted Karkus
Oh the arbitration that was related to the Phusion joint venture which we entered into with Phosphagenics a number of years ago. The funny thing is when we entered into it was a 50:50 joint venture and about a year after we entered into it and we started to have some issues a year or two, whatever the time frame was. Actually remember the Director [ph] saying, yes we want factored into a 50:50 and they just don’t seem to work and this just didn’t seem to work.
And I really don’t want to comment on it, simply because the arbitrator has not rolled yet, but I can say that things are pretty much positive there, and we are looking to re-group some of our investment and we are going to see if the arbitrator agrees with us. I am optimistic that some dollars will be awarded to us, legal expenses as I said we’ve already litigated this in front of the arbitrator. It was much more thorough, much more intense, hundreds of thousands of document it was ridiculous, it never should have gone through arbitration, but the other side wasn’t willing to settle on any reasonable terms and -- listen its frustrating when you have people not making smart business decisions. And there wasn’t much we could do and it literally was our only choice. But at this point I -- you see that neutral [ph] is going to be positive in the next six months and in my opinion. And again, that’s just my opinion; I don’t want my lawyers calling me a passive calling the [Indiscernible]. So I got to be careful what I say, but most of – virtually all of the legal expense are behind us now and it’s just a matter of how the arbitrator rules and I’m cautiously optimistic that he will rule in our favor.

http://seekingalpha.com/article/399...rkus-q2-2016-results-earnings-call-transcript