RVXoldtimer - This has been talked about at a couple of AGM's. I suggest reading through imtesty's transcripts of the Q and A's for the last couple of years to find the exact words used.

You are correct ZEL is a wholly owned subsidiary of ZCC. If my understanding is correct the proceeds will be followed directly to the shareholders less costs and administrative allowances. In short, if the proceeds of a sale are not followed through then they become taxable as income at the corporate rate to ZCC and then what's left is all that could be dividended out to the shareholders. DM has said on a number of occasions that this would be done in the most tax efficient manor possible as he is a large shareholder and doesn't like paying tax as much as anyone else. Mostly keep in mind that Eastern Capital is a 38% owner of ZCC and Ken Dart really doesn't like paying taxes. I rest easy knowing we have a very strong advocate on our side.

It is possible but not a given that some or most of the IP has been moved out of ZEL but we don't know that at this time. If there happens to be a buyer that is willing to pay up and contract in IP development $$ then maybe they take ZEL lock, stock and barrel and ZCC shareholders could look forward to having their grandchildren collecting royalties when those drugs finally get to market. That could be said for RVX-208 and the company RVX as well. If some dollars remain in ZCC that wouldn't be the end of the world either as it is very possible that ZCC ends up being listed at some point in the future anyways. Both DM and Eastern are going to want to exit at some point and neither are get any younger...unless we've developed an epigenetic drug that reverses aging that I missed along the way.

I share Bears concern about dilution of the royalty when ZCC raises money on occasion but see signs that suggest it won't be that way for to much longer.

Just my two cents worth on the topic.

tada