Cytodyn Inc (CYDY)

[Saltz]

The R/S is an option. Nothing has been decided other than a vote to increase authorization to R/S from 10:1 to 15:1. It seems many here now think it is a foregone conclusion that a split will take place. That is not the case.

Tony knows they have to get off the OTC if they are going to attract institutional investment. The first option is to get an organic uplift in SP through positive PR's in the form of favorable data from the Combo Trial and Safety data from the Mono Trial. They are hopeful that will lead to a BLA approval from the FDA. If BTD were granted in addition that could provide the horsepower for an organic increase in SP needed to avoid a R/S.

Another option on the table is a R/S somewhere in between these events as there would be positive news in the pipeline to support the split. One thing is for sure they will not R/S without positive news in the wings to support a R/S as they know the shirting that would occur.

Obviously there are many moving parts. The first of which is the meeting with the FDA. We absolutely need agreement to Lock and unblind to get to the results.

Here we find ourselves in the all to familiar waiting game. The challenge is to stay focused on the reality of the current position of this investment.