Cytodyn Inc (CYDY)

[justdafactss]

WHAT HAPPENED ON JUNE 29, 2020?

The convertible note issued on January 30, 2019 was particularly enriching to Fife. We estimate that Fife’s total return for this single note ranged from 1327.6% to 1344.9% of the cash received by CytoDyn.11 This return is most notable because of the dubious timing of a “penalty payment” issued by CytoDyn to Fife. CytoDyn transferred 4.0 million shares valued at $22.5 million12 to Fife one day prior to June 30, 2020, when the intraday share price dropped from $10.01 per share to $4.65 per share in seven minutes. This timing is very disconcerting with the recent disclosure that both the Department of Justice and Securities and Exchange Commission have issued subpoenas to CytoDyn related to, among other things, the trading in the securities of CytoDyn.