EOM Pharmaceutical Holdings Inc. (IMUC)

[hankmanhub]

WOW - IMUC just got a huge haircut with new financing.

There were 3M (approx) shares outstanding, Now after the financing of the preferred depending at price the conversions happen at there could be more (maybe much more) than 25M or more of common shares, so for $5M they bought say 25M out of 28M shares or about 90% of the overall company. That will leave the current shareholders with 10% or less of IMUC. This share price should drop much further if I am right and the probable conversion price will be the minimum of 35 cents not the current 65 cents. Now this is a toxic financing. They basically gave the company away to the new buyers. I wonder who the new buyers are - they are walking away with it all should some years down the road the tech prove out for a limited group.