NanoViricides Inc. (NNVC)

[loanranger]

And the winner of the first chunk of the S-3 goes to (drum roll, please).......

Dr. Milton Boniuk!!!

Actually the first 571,433 shares from the S-3 covered by this supplementary prospectus represent interest paid on the Series B Debentures, the vast majority of which were sold to the Boniuk entities. None of the proceeds of this batch of shares will go to the company.

Boniuk Interests 190,477
Boniuk Charitable 190,477
Vivien Boniuk 95,239
Robert Gold 47,620
David Gold 47,620

Based on that allocation we can now determine how the original $6,000,000 in total debentures was distributed. They went $2M, 2M, 1M, .5M and .5M respectively.

"The Selling Shareholders are not required to offer any of the shares of our common stock covered by this prospectus for resale. Since the Selling Shareholders may sell all, some or none of their shares, we cannot estimate the aggregate number of shares that the Selling Shareholders will offer pursuant to this prospectus or that the Selling Shareholders will own upon completion of the offering to which this prospectus relates."
http://www.sec.gov/Archives/edgar/data/1379006/000114420414073177/v396020_424b3.htm
p. S-26

Those that proposed that the Doctor's recent purchase of 50,000 shares stood as a symbol of his confidence in the company now need to consider what his sale of a multiple of that amount might mean. Seriously, I think his recent purchase was meant to mitigate against any questions that these sales might raise.


Any actual sales of shares by any of the first 3 entities listed should be reported in a Form 4.