NanoViricides Inc (NNVC)

[arvitar]

This case is unusual though.

In their recent SEC filings, NNVC says they only have enough money to continue current operations for another nine months. That's excluding any costs for work required to take a candidate into IND testing.

Yet investors are choosing to ignore this dire situation as disclosed by the company itself.


On top of this, the CEO has jumped ship right at this critical moment for raising funds. He did that without even finding a replacement, leaving Diwan as the CEO, President, and Chairman of the board. Diwan is also the major shareholder of Theracour, who receives almost the entirety of every penny NNVC spends. This egregious conflict of interest further negates any possibility the company has for raising additional funds.

Investors are frozen, and pretending as if their investment isn't going to vanish in less than a year.