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Thank you, looking forward to the 10-Q. It should be a doozy!
It's common for the SEC to just let OTC equity go death spiral.
What makes $CYDY interesting is the additional involvement of the DOJ and the FDA comments regarding claims.
Maybe even add in FINRA to nail Fife for something.
Don't forget the worthless inventory listed under "current assets" of which the accounting has been challenged already once by the SEC and $CYDY has rebutted. The ball in the SEC's accounting rules group on that issue.
There is easy money to be had for the "book runners" and placement agents if they can move some volume.
As a fee to the placement agent, the Company agreed to pay a cash fee equal to 12% of the gross proceeds received from qualified investors in the offering, as well as a one-time non-accountable expense fee of $50,000 in the aggregate for all closings in the offering. The Company also agreed to grant the placement agent or its designees warrants with an exercise price of $1.00 per share and a 10-year term to purchase 12% of the total number of shares of common stock sold to qualified investors in the offering. On January 3, 2022, the Company issued warrants covering a total of approximately 1.4 million shares of common stock to the placement agent in full satisfaction of its obligations under the placement agent agreement through November 30, 2021.
Alleged fraud...LOL!
$CYDY still making deals that destroy common equity value...
"Item 3.02 Unregistered Sales of Equity Securities."
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001175680/000119312522002781/d257663d8k.htm
https://ih.advfn.com/stock-market/USOTC/cytodyn-qb-CYDY/stock-news/86953042/current-report-filing-8-k
As a fee to the placement agent, the Company agreed to pay a cash fee equal to 12% of the gross proceeds received from qualified investors in the offering, as well as a one-time non-accountable expense fee of $50,000 in the aggregate for all closings in the offering. The Company also agreed to grant the placement agent or its designees warrants with an exercise price of $1.00 per share and a 10-year term to purchase 12% of the total number of shares of common stock sold to qualified investors in the offering. On January 3, 2022, the Company issued warrants covering a total of approximately 1.4 million shares of common stock to the placement agent in full satisfaction of its obligations under the placement agent agreement through November 30, 2021.
Not all pump and dumps are fraudulent... the OTC marketplace is full of story stocks with pump and dump patterns and no fraud committed.
Stock promotion and insider trades that follow the regulations and disclosure requirements are not fraudulent.
"The Body of the article contradicting the title."
The market has had enough of $CYDY 1/2 truths and exaggerated claims.
Correct...
Unfortunately, NOT ENOUGH LIFE RAFTS TO ALL GET OUT !!!
So much hype, so little substance, so $CYDY...
The "book runner" on that deal will absolutely require steep discounts and protections...as usual... $CYDY and Fife have destroyed common equity value.
Free leronlimab!!!
Agreed, I have no issue with the molecule or ideas regarding CCR5.
It is terrible the process has been so mismanaged by a stock promotion scheme like $CYDY.
If only $CYDY progressed science as well as the processed press releases.
New 52 week low coming.
Wonderful...too bad has zero to do with $CYDY being a pump and dump fraud.
They are investigating Santa Claus and the Easter Bunny...
There is barely enough demand to handle the volume of discounted shares being sold by the warrant holders selling after the 6 month rule 144 hold.
Yes and this 250m shares will be lucky to raise $150m with a Buck a share price and risk discount at this point.
It was Nader's and other executive compensation levels versus progress and comparison to true biotech's that was my first red flag $CYDY was basically a stock promotion, not an actual biotech.
Has Cytodyn ever released how they arrived at the preposterous $10M a year compensation package for Nader Pourhassan? I recall them mentioning once they have a third party compensation advisory firm. Shareholders should demand to see the calculations used to arrive at this figure. Who were they comparing Pourhassan's comp package to?
The new 10Q will be out soon. I'll make sure to point it out in the next filing.
Bingo!
Why does idiot Nader brag about obtaining PIPE financing at usury level interest rates, but turned down grants? Hint: which source of funding involves third party oversight over him?
LL thus far is a failed compound, and worth $200 million under the best conditions.
With Leronlimab stuck inside a toxic financed negative equity stock promotion scheme and it's worthless.
Free Leronlimab!!! The self touted miracle drug from $CYDY!!
""Death By Nader""
Leronlimab is only worth $200 million TOPS, and $CYDY as a corporate entity is at NEGATIVE EQUITY thus making the common stock worthless by most financial measures.
also on value, the inventory is worthless too, that will be the next SEC item to be challenged on $CYDY's accounting.
Bicker all one wants on the investigations and who's to blame, but regardless $CYDY common equity is garbage.
Added small quantities today at $17 (original stink bid) and $16.50, and I have some Jan $20 call's that were based on Dr. M timeline... Doh...that play is way riskier than I expected as I normally never play current month option contracts.
So all tanned up and relaxed from Mexico?
Ready for the next stage of S1R science?
I am. ;)
Many firms are starting to charge commission for OTC trades.
I expect retail volume to start shifting away from OTC to where the new action is on the online brokerage apps and options.
This is BAD news for PIPE runners who want to sell their cheap 6 month held discounted stock.
We all agree that the stock price was artificially manipulated to $10.01.
"Da SEC will be in touch. Dats not a guess"
Oh we agree, it's all in the 10-K and judicial discovery. It's not "will be", they ARE in touch.
Down 89.91% is due to "manipulation" but the pump to $10.01 was on $CYDY merits?
The financial fact of the matter is the common equity is worthless once the capital structure is reviewed with the vendors, toxic debt, preferred shares...etc. are accounted for.
PIPE runners and MM's will do their best to keep the churn above $1 as long as possible to accommodate the long shares held 6 months and scheduled to be sold by the warrant holders and other entities compensated with discounted stock.
So factually the height of the pump ($10.01) to today is a loss of 89.81%
Lets have the facts this year.
In the meantime, $CYDY stock continues below $1...
Connect the dots...
The $CYDY saga reads like an OTCBB pump of a bygone era, just accelerated via social media.
$CYDY as a corporate entity is coming to and end, and the common equity will be worthless.
The compound LL and CCR5 as a treatment has yet to be proven or disproven, and won't be for many more years to come.
The fact of the matter is LL is dead in the water as long as $CYDY owns it.
$CYDY was and is an alleged "pump and dump" that has accomplished very little except sell stock.
CYDY: Just checking in here, why the PPS drop? This was multi dollars not long ago. I traded this back in 2015 before the big run.
Even I caught the listing of "Inventory" as a current asset questionable accounting. Especially when in reality any sort of approval was nowhere close.
131. On February 18, 2021, the SEC sent CytoDyn’s CFO, Defendant Mulholland, a letter regarding the Company’s Form 10-K for the Fiscal Year ended May 31, 2020. In the letter, which was posted to the EDGAR website, the SEC issued targeted inquiries concerning CytoDyn’s BLA, specifically: (i) the timeline of CytoDyn’s communications with the FDA prior to submitting the BLA; (ii) how the RTF impacted CytoDyn’s timing in respect to efforts to capitalize inventory with respect to leronlimab; (iii) the nature of additional information required by the FDA in order to resubmit the BLA; and (iv) “why your projected date for resubmitting the BLA keeps slipping.”
132. After reviewing CytoDyn’s March 23, 2021 response, on April 16, 2021, the SEC issued another letter to Mulholland. In the letter, which was posted to the EDGAR website, the SEC asserted that certain responses of CytoDyn failed to sufficiently respond to the SEC’s inquiries, including responses “to support management’s assertion that prelaunch inventory represented an asset at each date it was capitalized” and questioned the appropriateness of CytoDyn’s capitalization conclusions. Specifically: ? ? ? You assert that your meetings with the FDA addressed safety and efficacy of the drug. However, the FDA’s July 2020 Refusal to File letter states that your Biologics License Application omitted information necessary for the FDA to perform a substantive review of the product’s safety and effectiveness. You indicate that “…current scientific work being performed by the Company to complete a successful resubmission of the Company’s BLA” is ongoing and that you do not expect to resubmit your BLA until midcalendar year 2021 or shortly thereafter. You assert that you manufactured leronlimab consistent with cGMP standards. However, we note that the FDA’s September 20, 2020, response to your list of questions related to the Refusal to File letter continued to reference issues with your clinical and statistical data, device related issues, and chemical manufacturing and control related issues.
I thought it was hillarious that discovery from the CYDY versus Amarex lawsuit provided the "smoking gun" for this class action lawsuit against $CYDY.
This is an absolute MUST read for what has actually been happening at $CYDY.
This story is perfect for the TV show on CNBC "American Greed"
https://zlk-core-prod.s3.amazonaws.com/core/storage/app/cases/13564/events/12319/US_DIS_WAWD_3_21cv5190_83_AMENDED_COMPLAINT_for_Violations_of_the_Federal_Se_1640278818.pdf
Thank you, much appreciated. I'm more the SEC filings versus courtroom filing research.
$CYDY is a classic hype driven stock selling scheme.
LOL, yep it's gotta all be some sort of BP conspiracy.... LOL!!!
I'm not sure, can you provide a link or summary. I think all I saw was out of Vancouver.
$CYDY most definitely fits the pattern of a stock promotion, but has it conducted illegal activities in timing and communications?
That's to be determined.
Now that getting up there in volume size.
I think they mean a "form 4", so the question becomes, is a form 4 required for all rule 144 transactions?
Form 4 is required of all "insiders" sales, but not of all rule 144 sales are done by "insiders" so there is no form 4 for this transaction.
OK... Free Leronlimab!!!! And remember the joy of capital gain offsets like $CYDY!