Liabilities; Solvency. The Company has no liabilities or obligations, absolute or contingent (individually or in the aggregate), except (i) the liabilities and obligations set forth in the Company Financial Statements, (ii) liabilities and obligations which have been incurred subsequent to [June] 30, 2017in the ordinary course of business which have not been in the aggregate, materially adverse, (iii) liabilities and obligations under the lease for its principal lab, and (iv) liabilities and obligations under licensing, sales, procurement and other contracts and arrangements entered into in the normal course of business. The Company is able to meet all of its payment obligations as they come due. The fair market value of the Company’s assets exceeds the fair market value of its obligations, whether contingent or otherwise.
Appears in 2 contracts
Sources: Acquisition Agreement (Processa Pharmaceuticals, Inc.), Acquisition Agreement (Heatwurx, Inc.)