NanoViricides Inc. (NNVC)

[Trendliner]

THE PICTURE OF THE FUNDAMENTAL OBSTACLES IS HANGING TOGETHER WITH REMARKABLE CONSISTENCY

I know Gene reads this board. He knows the thread of this conversation about the technical issues; consistency, candidate optimization, etc.

It's reasonable to assume that if he had answers to any of these issues they would have been addressed in the CEO letter. They were not addressed. The only reasonable conclusion is that currently NNVC does not have solutions to these technical issues.

This does not rule out an 11th hour breakthrough, however that would that is a long-shot at best.

It is known that investors overvalue long-shot stocks. By one calculation - a model that is not mine - places the stock's fundamental value south of 50 cents a share - 32 cents as of Friday's close. So why does it sell at more than three times that? The long-shot bias may not explain the entirely of the overvaluation but it is a safe bet that it explains a good portion of it.

Trendliner