Cytodyn Inc (CYDY)

[kevindenver]

Once the toxic lenders add another board member the most logical is Chapter 11 with a capital restructure handing over the new equity to the lenders and old common will be cancelled.

When the company has virtually no cash, no means of raising cash and ~$100 mil in debt they can't pay that is the recipe for bankruptcy. Samsung will be owed $35 mil the end of January. The company couldn't post the $6.5 mil bond to get their clinical trial data back to be able to START preparing the clinical portion of the BLA. Can't pay the Vulture debt and the vulture is converting the maximum each month to get their cash back. SEC won't allow the company to do a significant secondary with all the shareholder approved stock.

By any definition, these are the conditions for bankruptcy -- protection from creditors -- Chapter 7 or 11.

Those who follow OTC know the script.