NanoViricides Inc. (NNVC)

[Rawnoc]

"With multiple questionable stock promoters NNVC has pumped the stock +330% while heavily diluting shareholders and stealing NNVC out from under public investors as insiders siphoned off millions of dollars."

"NNVC shareholders seem unaware of this incriminating must-read document, written by a company insider and supporter, which outlines countless examples and allegations of NNVC managers Seymour and Diwan abusing shareholders and looting the company."

"First, NNVC does not own any of the intellectual property or patents under development by NNVC. 100% of NNVC's research, development and "technology" relies on licenses on the IP from Theracour. As a result, NNVC is literally nothing without the "Theracour Pharma, Inc" relationship."

"Diwan and Eugene seem to have deliberately used NNVC's cash to develop drugs for the benefit of Diwan's Theracour to which NNVC had no rights."

"Theracour can gouge NNVC for an arbitrarily decided "30% of direct cost" additional fee? As Diwan is 70% owner of Theracour, 70% of this money is his and how much cash he has received is not explained in the SEC filings."

"There is no excuse for a public company with more than a few million dollars to not be using a reputable big 4 auditor. NNVC shareholders should demand this to ensure their financial statements are reliable."

"Where is the truly independent analysis? Where are the big pharma companies knocking down their door with huge cash payments for exclusive research contracts like BIND?"

"NNVC shareholders are fed a steady diet of "imminent news," promises and promotion that never materialize into anything meaningful like this absurd 2009 press release about agreement with unnamed "Major Pharma" that turned out to be nothing."

"We estimate NNVC has only performed testing on ~5k animals which makes the ~$20m "spent" on R&D over the past 7 years also very questionable."

"We think NNVC should trade for less than cash given egregious dilution and cash burn (biotechs often trade for less than cash for these reasons) but even applying a generous premium to NNVC gives a per share value of less than $1 or -82% downside."

http://seekingalpha.com/article/2010691-nanoviricides-house-of-cards-with-minus-80-percent-downside-strong-sell-recommendation