Cytodyn Inc (CYDY)

[The Lawman]

Science great but CEO in over his head.

I believe in the science behind CYDY.

And I believe in Dr. Pestel.

However, I don't believe the company can reach its potential with Pourhassan as CEO.

Today's call was just one more example of Pourhassan's shortcomings.

Pourhassan evaded questions, distorted information, and spent much of the call praising his purported accomplishments.

Suggesting he had obtained $500 million of product, and then refusing to disclose the cost of this product when pressed by Saltz for this information, was just one example of how Pourhassan distorts information, and lacks credibility.

Does anyone still believe anything Pourhassan says regarding timelines, licensing deals, or most anything else he tells the shareholders?

I know I don't.

Perhaps the pharmaceutical companies Pourhassan is wooing don't believe him either, or don't want to partner with a company run by someone of his caliber.

Even Dr. Pestel seemed somewhat disinterested and disgusted today; maybe he too would like to be working with a competent CEO given how much he has at stake.

It is not just that Pourhassan is grossly overpaid at $1M per year, and it is not just that he has not invested any of this bounty in company stock, as almost all CEO's do; it is that he lacks the competence and demeanor to take this company to the next level.

So even if the board of directors wants to keep Pourhassan on the payroll, I urge the board to please bring in a seasoned professional CEO to run this company.

Until that happens, I fear Cytodyn will struggle to succeed, and will waste a truly terrific drug that would serve a great medical need.

LM