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Nada blames everyone always but him. The Iranian felon and Bulgarian gym owner have a nice scam going for the last 12 years.
Exactly. Similar to sensitivity and specificity. You can't get 100% in both, there is always a tradeoff.
Nader is a pathological liar and I would not be surprised if bankruptcy proceedings have already started. Mind you, this is the man who did not inform his investors of DOJ and SEC investigations when they occurred and just put them into the 10K after the fact. Also, Scott thought even that should not have been disclosed.
No, what will happen is one day suddenly a simple press release will be released that Cytodyn has declared Chapter 7 bankruptcy.
All IMO, of course.
So if tomorrow Nada decides to do a friends and family fundraise where he sells them 10M shares for $0.01/share that would not be illegal?
Grip that is the most amazing thing. A failed bric-a-brac salesman joins forces with a gym owner to run a 10 year grift whereby the salesman has made $19M the last two years!
Why the heck are Gardiner's shares being held by Timmins? Did anyone else find that weird?
Is anyone concerned that these extreme sweetheart deals to his friends is in effect amounts to buying votes for the upcoming proxy vote? How is this legal?
Does anyone have an email address for the DL chancery court judge that called Nader a mastermind of greed? I will inform him that the CYDY board is attempting to replace the shares that were taken away from Nader by his ruling. BTW, I a a former lawyer so I know how to craft the email to him that will get his attention.
I would think earning $19M in two years for essentially burning through shareholder equity should allow him to have a comfortable life, provided the Feds don't take it all away from him.
NaDeer made a sacred oath to the gym owner 12 years ago that by golly together they would both bleed the company dry and he's going to stick to that oath! That's why he won't quit as CEO, but shareholders are welcome to vote him out if they don't want him...provided they are allowed to do so as he's doing his best to prevent the vote.
First, they have not received that cash. Second, that can't even come close to paying Kelly's annual $3.3M compensation, much less Nader's. Minuscule amount.
Finally the Philippines revenues revealed....$300K. Wow Nada, you really earned your $10M!
I'm listening to it now. Same ole bs, Scotty reading anecdotal patient testimonial stories and Nader babbling as usual.
On p.9 of the annual report:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001175680/000119312521285634/d236050d10ka.htm
https://i.ibb.co/FYnBBds/2021-comp.png">https://i.ibb.co/FYnBBds/2021-comp.png" />
Sheridan if he gets lucky and a judge takes pity on him.
I saw that about the shares being given back to him despite what the judge warned. Looks like he's taken a liking to being in that Delaware court room as he's surely headed back there over this!
So Nada earned $10M in total compensation again for 2021. Scotty earned $3.3M in total compensation. Unheard of compensation for OTC biotech that is pre-revenue (lol at Philippines too small to mention) and no approved drugs. No wonder they are fighting tooth and nail to prevent the shareholder proxy vote. On Oct 6 they will lose as courts are not in the business of squelching shareholders voices.
AND they had the nerve to talk about rewarding themselves "discretionary bonuses" for pumping up the share price (before it collapsed) and TRYING to get the drug approved for Covid!
Make sure to let OTC Markets, Issuer Services department (For questions regarding companies trading on our markets and issuer compliance) issuers@otcmarkets.com know that CYDY is being investigated by both the SEC and DOJ. You can point them to p.125 of the latest 10-K to the heading where it states: "Securities and Exchange Commission and Department of Justice Investigations"
Jeff Beaty says that "traditional financing and <Nasdaq> uplifting are tough to do when you have a criminal and felony background"
13D call
The old adage of repeat a lie enough times and it becomes the truth is what Nada lives by.
That boy is going to be outfitted in a lovely shade of orange soon if....God is willing
13D group releases a white paper blasting Nader's reliance on toxic debt financing.
White Paper
Exactly. Nader folded like a cheap suit once the 13D's lawyer pointed out to the court that in the past the current directors on the BOD were not subject to the same scrutiny and did not make the same disclosures required of the 13D group.
Dr. Harish Seethmraju along with Dr. Lalezari used to brag that they were not compensated by CYDY and objective in their analysis. Well, looks like Seethmraju wants to hop onto the gravy train and be a board member so he too can earn around $1M a year! Longs are being put into the washer and shaken down.
CYDY will be bankrupt soon. Many have pointed out that the cash situation is dire. Despite Nader's proclamations to the contrary, the 10K doesn't lie. Even if he can convince shareholders to authorize 200M new shares the SEC will not make them effective. It's over with no revenues coming in and the burn rate at a conservative estimate of $10M a month. SEC and DOJ investigations ongoing thus the reason why the SEC will not allow Nader to issue shares to probably pocket for himself like he has done in the past and been sued by shareholders twice and rebuked harshly by a sitting DL chancery court judge. All IMO of course.
Nadar made an another egregious lie according to her, but shareholders were to blame for believing him. SMH.
Well in Naderland they chose to pursue indications for which it won't work and ignore the indication that it does work on, HIV, and they have data in hand. So close to the finish line, but they ignore HIV. Why is that? I suspect its because an approved drug will bring heightened scrutiny by legitimate institutional investors who will question everything. Such as why is an unqualified felon the CEO? Why is a gym owner on the BOD earning nearly $1M in total compensation per year and seemingly having a life time appointment to the BOD? Why are two other BOD members earning $1M in total compensation yearly? The gravy train for Nada and friends ends with Nasdaq, an approved drug, and in short, legitimacy. It is to their benefit to stay in the shadows of the OTC.
Why would investors buy unauthorized shares?
No she could have sold to a market maker directly without having to file a Form 4. Believe someone else pointed that out here.
Don't be so sure. Others have pointed out the curious timing of his wife's stock purchases/sales.
That filing was one for the ages. He has the nerve to seek massive share increase which history shows he will use to reward himself nicely.
He will blame Mahboob, Pestell, disgruntled shareholders....everyone but himself.
Now it all makes sense why NP was given a $1.53M a year salary. When the BOD members are earning over $1M in total compensation, why risk upsetting the apple cart?
Latest filing shows BOD total compensation outrageous sums. Naydenov got $995K, Timmins 1.017M, Patel 1.041M. For doing what?! Most companies pay an honorarium basically to people to serve on a BOD usually anywhere from $25k-$200K. This is obscene how much these 3 directors earn. No wonder they signed off on Nadar's 2020 compensation.
Of course Nader wants 200M more authorized shares. The SEC will not authorize it, just like it has not made EFFECT the last two S-3's. The SEC has put its foot down to protect the integrity of the public markets, and indirectly, shareholders. This charade is over.
100%. Imagine Nader responding "well, this is what I did that caused my then wife to file a restraining order against me"
lol do these people really think Nader is going to want to revisit THAT incident from his past?
Why hasn't the SEC declared effective the last two S-3 filings? These are my best guesses as to why, IMO:
1. The SEC and DOJ are investigating the company based on subpoenas served and they won't allow new shares to be issued while this is ongoing.
2. The SEC has noticed a pattern of issuing shares to pay for loans to lender John Fife , who it has sued for acting as an unauthorized securities dealer. The SEC wants to make sure CYDY does not enter into more agreements with Fife.
3. The SEC has noticed a general pattern of Nada and Scotty "eating at the trough" via cheap options, so to speak, after new shares have been authorized. The SEC has noticed that everyone gets rich with new shares authorized, except of course retail shareholders.
CYDY being sued again. This time by 2 shareholders contesting the legality of CYDY's rules for removing directors from the BOD for cause.
CYDY sued again