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He had a year to do something, anything, but was fired after accomplishing nothing but delays. Another Tony C. fiasco and it cost the shareholders $15.4m and 27m shares. No wonder they were both escorted out the door. And it's taken years for NP to mop up the mess left behind by do-nothing Tony.
There's absolutely NO PROOF or even OPINION CYDY and the shareholders received anything of value by Tony C's f'up purchase of ProstaGene, and this is why I NEVER get an answer to the question "what value did the shareholders get from Tony C. purchasing that boondoggle of a company, ProstaGene, for $15.4, and giving his buddy, Pestell, 27m shares for NOTHING." I suspect this is why Tony C. was kicked off the board and escorted out the back door in 2019.
INCORRECT and very WRONG!
The former do-nothing chairman of the board that ran the company from 2012-2019 has a LOT to do with today's share price. smh
Tony C. was removed from the board in 2019. (EYE ROLL)
2018 is a decade ago?? LMAO
According to the 13D filing, he's a 13D/Patterson bootlicker that gave Patterson $200k to help fund the failed hostile takeover attempt.
There's no question they held this company back for several years, but fortunately NP has us moving in the right direction. Do-nothing Tony C. got us nowhere for seven years - absolutely NOWHERE! SEVEN YEARS and NOTHING to show for it except ownership of a boondoggle company - ProstaGene!!! Oh yeah, and he made his buddy Pestell a multi-millionaire!
Not familiar with them. Are they anything like that 13D paid pumper clown Phil Harrison who, according to the 13D filing, threw away $200k on IncellDX in the foolish hope that it would fund a successful hostile takeover? LOL
LMAO What idiot gave Pestell 27m shares in the first place??? Oh yeah, it was do-nothing Tony C. And why is it NOBODY can name just ONE thing of value the shareholders got from that ProstaGene purchase boondoggle of Tony C's?? Shareholders should be thanking NP for mopping up the huge mess that was left behind when the board escorted Tony C. out the back door.
A better question would be "what value did we get when do-nothing Tony C. purchased ProstaGene for $15.4m and gave his buddy, Pestell, 27m shares?"
I agree that BP wouldn't consider CYDY with an idiot at the helm which explains why they had no interest while do-nothing Tony C. was at the helm from 2012 - 2018. It would also explain why so many are expecting BP to be all over CYDY when we get the NASH results, thanks to NP.
Yes, we can agree on that. We're so fortunate the overwhelming majority of shareholders re-elected him last month. Can you imagine what a disaster it would have been if those 13Douchbags got in and wreaked havoc while trying to steal LL? It could have been as bad as when Tony C. squandered $15.4m on ProstaGene and gave his buddy Pestell 27m shares. What a disaster that was!
Btw - what value did we get from ProstaGene? What a waste of money that was!
And when they saw the evidence, 13D got a public spanking and had their azz handed to them.
I'd be more curious about how much the 13D gang of misfits squandered on their failed takeover attempt and subsequent appeals, not to mention the paid 13D pumpers who still haven't figured out that it's over. But that's not our problem, is it. LMAO
Fortunately for the CYDY shareholders, NP was willing to go big and not cheap like the 13D gang. Look at what they got - absolutely nothing after squandering their money. Just like what CYDY got after Tony C. squandered $15.4m on ProstaGene and 27m shares on his buddy, Pestell. Absolutely nothing. What an idiot!
For those that don't understand the risk of a DOJ investigation, DOJ is said to launch probe into short selling by hedge funds, research firms.
"Macus Aurelius Value is said to be involved in the inquiry and other well known short sellers such as Carson Block's Muddy Waters and Andrew Left's Citron research promoted shorts that are being investigated, according to the report." Perhaps you remember Citron playing their games with CYDY.
https://seekingalpha.com/news/3779192-doj-is-said-to-launch-probe-into-short-selling-by-hedge-funds-research-firms
Yes, CYDY shareholders are in great shape following the annual meeting last month. Imagine how the failed 13D gang of miscreants and their paid pumpers must feel, especially that Phil Harrison character that foolishly blew $200k on IncellDX convertible options. What a loser. Even more hilarious is that his name showed up in the 13D filing. The clown is clueless.
Very good point! The first thing that NP did after the board demoted that idiot Tony C. was to mop up the mess left behind by Tony C. and then fire him and escort him out the door. It's a real shame they didn't fire him before Tony C. squandered $15.4m on purchasing ProstaGene and giving his buddy Pestell 27m shares. Wow, talk about "dilution". What a mess that idiot left behind for NP to mop up!
The short's horror stories and tall tales are ineffective, and shorts appear to want out knowing the BTD and NASH results will be announced any day now. They're facing huge margin calls and immediate bankruptcy if either one of these announcements are positive, and we all know how great the science is behind LL. There will be carnage in the streets for the shorts if CytoDyn gets the news that we're all expecting any day now. Yep, the future for anyone shorting this stock looks very bleak and gloomy, and bankruptcy for anyone shorting CYDY is on the very near horizon. It may already be too late for them to get out. Tick-tock...
Who's waiting for the end of next year when we just had the annual meeting last month?
Definitely NOT a problem for me! Too many near-term catalysts and binary events for anyone to want to wait for something at the end of next year. LMAO
Shareholders are NEVER helpless. CytoDyn, specifically NP, has a very open, informative, and responsive relationship with the shareholders, and this is why he was just re-elected to the board. If the majority of shareholders felt "helpless", they/we wouldn't have re-elected him.
Some "helpless" shareholders?? Sure, if you consider an overwhelming majority of shareholders "helpless". LMAO
It might as well be an eternity for the failed 13D gang of miscreants and anyone else who thinks nothing is going to happen between now and the end of next year. No NASH results, no BTD(s), no partnerships, no mTNBC results, no HIV BLA, and on and on.
Uh...he and the chair were just re-elected to the board last month by an overwhelming majority of the shareholders. LMFAO
Last month! LMAO
The same annual meeting that we just had last month? LMAO
LMAO And why is that?
Wrong. The key word here is "AWAITING".
"Dr. Seethamraju is currently awaiting approval from his employer, Mount Sinai, to be able to continue to serve as a director."
Obviously is the word of the day.
Obviously that was NOT the case. Perhaps you should take it up with the CytoDyn board of directors.
WRONG! Perhaps this will help. This was clearly stated on the company profile. "Dr. Seethamraju is currently awaiting approval from his employer, Mount Sinai, to be able to continue to serve as a director." Obviously he didn't get it.
So which one is it???? LMFAO
Wrong. Amarex resubmitted it and they were responsible for the integrity and completeness of the BLA, not CytoDyn.
LOL The audit has NOTHING TO DO WITH DAMAGES. IT IS FOR THE DISPUTED NON-PAYMENT.
LOL It's a $65k bond (i.e 1%). I'm sure paying it by Jan 14 will be a major issue for them. I mean it's not like paying $5.95 which would be chump change, but it's still a small amount. LOL
LOL So, that is why the judge ordered Amarex to undergo an independent audit and CYDY said "Upon completion of our court-granted audit, if any damages are discovered which are due to negligence on behalf of Amarex, we will aggressively pursue all and any legal action.”
I think this is self-explanatory.
LOL - it's a "bond" - not "cash".
CytoDyn Announces Favorable Ruling Granting Injunction Against Former CRO
Court order requires CRO to provide CytoDyn full access to all its clinical trial data
VANCOUVER, Wash.--(BUSINESS WIRE)-- CytoDyn Inc. (OTCQB: CYDY) (“CytoDyn” or the “Company”), a late-stage biotechnology company developing leronlimab, a CCR5 antagonist with the potential for multiple therapeutic indications, today announced that the U.S. District Court for the District of Maryland has granted CytoDyn’s previously-announced motion for a preliminary injunction against NSF International, Inc. and its subsidiary Amarex Clinical Research (“Amarex”), the Company’s former Contract Research Organization (“CRO”).
Over the past eight years, Amarex provided clinical trial management services to CytoDyn and managed numerous clinical trials. The Company’s complaint alleged that Amarex failed to perform its obligations under the master services agreement and work orders that governed the relationship between the parties. As a result, the Company suffered substantial damages.
The Court concluded that the Company was likely to succeed on its claims that Amarex breached the various agreements with CytoDyn, and therefore entered an injunction requiring Amarex to provide CytoDyn access to databases of its clinical trial data that Amarex has been wrongfully withholding. Specifically, the Court’s injunction requires Amarex to provide CytoDyn full access to the electronic data capture (“EDC”) and all related data. Further, it requires Amarex to cooperate with an independent audit to begin promptly after February 1, 2022. Additionally, the order is subject to the Company posting a $6.5 million bond no later than January 14, 2022.
Nader Pourhassan, Ph.D., CytoDyn’s President and Chief Executive Officer, commented, “We are pleased with the Court’s ruling and are focused on the positive momentum of our pipeline. It is gratifying to see that Amarex will be held accountable for its numerous shortcomings in delaying the potential of the availability of leronlimab to thousands of patients for multiple indications. By doing so, we believe they also harmed our shareholders. Upon completion of our court-granted audit, if any damages are discovered which are due to negligence on behalf of Amarex, we will aggressively pursue all and any legal action.”
https://www.cytodyn.com/newsroom/press-releases/detail/591/cytodyn-announces-favorable-ruling-granting-injunction
As I said...
"Further, it requires Amarex to cooperate with an independent audit to begin promptly after February 1, 2022."
"Upon completion of our court-granted audit, if any damages are discovered which are due to negligence on behalf of Amarex, we will aggressively pursue all and any legal action.”
I find this comment especially noteworthy:
"Upon completion of our court-granted audit, if any damages are discovered which are due to negligence on behalf of Amarex, we will aggressively pursue all and any legal action.”
I think you missed my point. To simplify it, if a stock goes up 5 cents or $5, it doesn't matter if the increase is still 5%.
STAT is notorious for being one of worst biotech websites. Why would I pay to read that garbage?? I'm not shorting this stock.