CHM chimeric therapeutics limited

in response to glyna in mmx forum

  1. 77 Posts.
    Glyna, talking about one company lending to another....

    You have a short memory...

    Mr Zuks told the court the promised funding was slow in coming from Mr Grimaldi, and it was "a bit of a surprise" to learn that a $56,000 cheque from Chameleon Mining, signed by Mr Barnes and his secretary, was to be used to pay for one of the instalments in the project. A further $96,000 was also to be paid by Chameleon.

    Mr Zuks said he asked for "evidence" that the payment could be made because of concerns he had that it could be a related-party transaction, and that Mr Barnes was "uncomfortable" when the matter was raised. "It stuck in my mind, where Barnes sort of -- his words weren't flowing clearly. He just felt uncomfortable with it. Why, that was his business, but I could see that something was not right."

    Mr Zuks said he was told that the two companies "had this arrangement where they, from time to time, loaned money to each other".
 
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