Monday, January 17, 2022 1:34:04 PM
1. SEC is preventing CYDY from doing secondary offering to raise much needed cash. The didn't approve the S-3 last year to allow a secondary, and now that they are under investigation they are not likely to approve one. SO the company is going to have few options for raising cash.
2. SEC/DOJ actions against management -- banned from future management and Board of a publicly traded company. Perhaps indicted too. This will likely happen whether the company goes BK or not.
3. Cytodyn is bleeding out its last cash -- can't pay Samsung past due bills (~$13 mil) and the $22 mil due end of January, and the $6.5 mil surety bond and the ~$50 million vulture fund debt (mostly due this year), and the legal expenses and the big payroll they have accumulated.
4. May bring on BK to try to protect against vendor collections. If Cytodyn can't pay the surety bond then they have a settlement to get their day, they may have to pay more (Amarex claims ~$13 mil owed).
5. If Fife isn't paid, the BK means they claim all non-IP which is remaining cash, sell furniture and perhaps clinical data (not IP).
6. Some bottom feeder biotech/small pharma may buy LL rights. They certainly don't want the company just the drug, perhaps inventory from Samsung and the clinical data (from Fife?).
This could be the wind down of the company. This scenario means shareholders get shafted as all assets are collateral for outstanding debt.
Recent CYDY News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/03/2024 09:15:10 PM
- Form SC TO-I - Tender offer statement by Issuer • Edgar (US Regulatory) • 06/03/2024 09:10:56 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 05/06/2024 09:17:30 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 05/06/2024 09:16:24 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/06/2024 09:09:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/09/2024 02:30:20 AM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 03/01/2024 10:16:47 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 03/01/2024 10:15:34 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 02/22/2024 10:16:11 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/22/2024 05:15:08 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 02:00:24 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 10:31:57 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 01/29/2024 10:22:17 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/29/2024 01:40:14 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 01/19/2024 10:15:35 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 01/16/2024 10:16:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/06/2024 02:04:57 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/06/2024 02:04:20 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/06/2024 02:02:59 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/06/2024 02:02:30 AM
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