Cel Sci Corporation (CVM)

[Fosco1]

Hi All and George

I liked your explanation George, until I had a look at the latest 10Q

Cash and liquid assets (Treasuries) by 03/31 were around $ 17.5M
Facility upgrade costs were mostly behind ($ 9.5 M out of the required $ 10.6M already engaged and accounted for), so there was no urgent and desperate need of cash, that's for sure

I do see some reasons though for this timely cash raise, others than Feuerstein's version of "raising before the doom"

1- Geerts to present a solid company after data readout :
- Rock solid data and data analysis
- Rock solid upgraded facility
- Solid balance sheet (I presume around 45M$)

that's not for the FDA etc... that's for any eventual Co that would want to buy-out CEl SCI : no defect in the shield.
"Be decent or pass your way"

2- Geerts friends where so happy to give him away $ 22M, and then even more : $ 32M, so why refuse it ? It costs Geert nothing as he can mitigate the effect of dilution on him and his board of directors by granting himself more options (And, well, he does it for our own good as well as we'll see when there is a buy-out although we do not know it yet). In addition, he might need more capital after results, so let's have them happy giving away millions. By the way, spending $ 32M on the casino is quite a high figure,unless he has been pretty convincing in his conference that the casino's roulette would fall on the right colour

3- There might have been some extra costs as well on the facility. Delays mean extra costs

Finally, I see as very positive the fact that Feueurstein had been previously warnt by Kingswood capital that Geert was not so sure of significance back in May. This makes me really think they wanted to manipulate this parrot, to keep price per share down. Why would they have changed their mind, then ? Why offering now to Geert more than he ever wanted ? ($ 32M instead of $ 22M)

Hope you are all well and GL for data readout

Fosco