Cytodyn Inc (CYDY)

[justdafactss]

If DD states appr 688 million shares remain of a total 700M A/S (only 12M left) then its HIGHLY probable there are no shares remaining to cover the ILLIAD note.

If so that would more than likely be the reason CYDY cannot file the S-3 on April 30, 2020 as stated in this filing:

The Company agreed to use commercially reasonable efforts to file a Registration Statement on Form S-3 with the SEC by April 30, 2020 registering a number of shares of Common Stock sufficient to convert the entire Outstanding Balance of the Note plus, if legally permissible, 1,666,668 shares of Common Stock from Investor’s February 12, 2020 warrant exercise plus 833,332 shares of Common Stock from Investor’s February 4, 2020 warrant exercise.
https://www.sec.gov/Archives/edgar/data/1175680/000119312520099591/d914246d8k.htm

Looks like raising the Authorized Shares or a reverse split are the only alternatives left.