Cytodyn Inc (CYDY)

[edwardport]

perhaps the board member resigned because this corporate action (financing) is a major liability for him as well as it is for all board members

On December 30, 2019, the Company entered into a private warrant exchange in which certain accredited investors purchased unregistered common stock at a reduced exercise price per share of $0.50 for any warrant with a stated exercise price greater than $0.50 per share and no discount for warrants with a stated exercise price equal to or less than $0.50 per share.

The Company sold 2,230,000 shares of common stock, as well as 446,000 additional shares as an inducement to exercise their warrants, for a total of 2,676,000 shares of common stock, $0.001 par value. Aggregate gross proceeds from the private warrant exchange were approximately $1.0 million.


at that time the stock was trading close to $1.00 per share so why do a financing so cheap? self enrichment? average price per share under $0.25

now the stock trades up to $2.50 per share and they walk away with 10-1 on their money

WOW! NOT GOOD AT ALL FOR SHAREHOLDERS