Tenax Therapeutics Inc (TENX)

[7777777]

Thus, the confidential treatment holding information is not so easy to
understand. There are holdings that have applied for confidential treatment not only for the
further appreciation/depreciation of the stock price but for other reasons. To illustrate, we
found that a considerable number of stocks were delisted within 3 months after they were filed
for confidential treatment. A majority of them were delisted due to merger and acquisition, and
most of the price appreciation was achieved before they were filed for confidential treatment.
This finding contradicts the common belief that investment firms use confidential treatment to
hide their private information about possible further merger and acquisitions; in which case,
stocks should appreciate more after they were filed for confidential treatment