Cytodyn Inc (CYDY)

[JPG77]

Nader's ProstaGene debacle?? LMAO

Where do you see Nader's name mentioned in this PR?

CytoDyn Completes Acquisition of ProstaGene and Names Dr. Richard G. Pestell to Board of Directors

“Richard is a driving force in CCR5 antagonist research and we gain significant expertise and intellectual property with this acquisition that advances the development of PRO 140 as a novel cancer metastasis therapeutic,” said Anthony D. Caracciolo, CytoDyn’s Chairman. “We are privileged to have Richard join CytoDyn to expand our executive and scientific team, and we enthusiastically welcome him as the newest member of our board of directors.”

Under the terms of the definitive agreement, CytoDyn acquired substantially all of the assets of ProstaGene, including the transfer or assignment of certain intellectual property rights held by ProstaGene and Dr. Pestell. The aggregate transaction consideration consisted of 27,000,000 shares of CytoDyn common stock. One-fifth of the stock consideration is being held back for distribution over an 18-month escrow period, to the extent not needed to satisfy indemnity claims. Approximately one-half of the stock consideration otherwise distributable to Dr. Pestell (approximately 8.3 million shares) is restricted and subject to vesting and forfeiture upon certain events over a three-year period. The total transaction value, based on the $0.5696 closing share price for CytoDyn common stock on November 15, 2018, was approximately $15.4 million.

https://www.cytodyn.com/newsroom/press-releases/detail/299/cytodyn-completes-acquisition-of-prostagene-and-names-dr

The sunk cost in this mess makes Nader’s Prostagen debacle look like a grain of sand.

Tony C pissed away $15.4m and gave his buddy, pestell, 27m shares! And what value did we get for Tony C's purchase of that failed company ProstaGene??????? NOTHING!!!!! Now THAT is pissing money away.

$300,000,000 pissed away in 3:years for nothing.