NanoViricides Inc. (NNVC)

[loanranger]

The 10-K you signed says otherwise, Gene.

When asked about the increase in authorization of the preferred A shares, which vote at the rate of 9 times the common share rate and can be converted at the rate of three and a half common shares each, the CEO told the inquirer this:
"Preferred shares are in essence “virtual or potential shares” since they can't be converted into common shares unless there's a change in control anyway."

He seems to have left a little something out. The highlighted language is from the latest and at least the two prior 10-k's:
"Eugene Seymour, Chief Executive Officer and Director. Includes 1,044,429 shares of NanoViricides common stock held by Dr. Seymour and 142,857 shares of NanoViricides common stock issuable upon exercise of options held by Dr. Seymour that are currently exercisable or will become exercisable within 60 days. Does not include 428,571 shares of the Company’s Series A Preferred Stock (the “Series A”) which votes at the rate of nine shares of Common Stock per each share of Series A and is convertible into three and one half shares of Common Stock upon a change in control of the Company or upon achieving certain trading prices of the Common Stock."

When, if ever, will the company be telling us what those "certain trading prices" are, Mr. CEO?
Why aren't you even acknowledging their existence in your private responses to inquirers?
Since they potentially dilute the share holdings of common shareholders by adding 29.75 million shares to the existing 57.8 million shares outstanding and since that term of the Preferred is supposed to be on file with the SEC for investors information, maybe you should either tell us where it is in the company filings or when you expect to file it. I couldn't find it.


https://www.sec.gov/Archives/edgar/data/1379006/000114420415054864/v418491_10k.htm#a_022