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tc2000chartreader

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tc2000chartreader

Re: neogn8 post# 12581

Monday, 09/28/2020 1:05:34 PM

Monday, September 28, 2020 1:05:34 PM

Post# of 14684
Sorry neogn8, that is not entirely correct. Any investor that buys the preferred, then GNBT is putting 39% of the funds into a sinking fund to pay a 13% dividend to that investor over the next 3 years. So basically 3 years of dividends is guaranteed. However that does not mean the common shareholders are getting anything from that. In fact, the common is only benefitting by GNBT getting 61% of the proceeds to their cash balance to use to fund all the other ongoing products.
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