Enzolytics Inc (ENZC)

[foxi]

That's a question we all wish we could answer.

ENZC recently reported an accumulated deficit of $29,533,234 and has some ongoing legal stuff (at least three active lawsuits) to resolve. With the share price steadily fading, if they can't get a revenue stream through products like IPF Immune, they might be open minded to a buyout offer if one came along. Financing is also a reasonable possibility if the deal is sweet enough for equity partners (Samsung?) who believe in their tech.

When? Nobody knows. ENZC said in the Going Concern in recent filings that it expects to be able to operate on its own at least through Q1 2023.

ENZC's pattern in the last few quarters has been to raise capital by selling Series E Convertible Preferred and Series C Convertible Preferred stocks. They're nearly out of room to facilitate conversions or do their own dilution, with the total Outstanding Shares approaching total Authorized Shares, but as long as the market supports it, they could reverse split and carry out another round of dilution to keep future operations sufficiently funded.

Regarding your question about the WeFunder SAFE and turning that into ENZC shares, the SAFE notes are part of the Crowdfunding Convertible Notes reported in ENZC's fillings. Look on page 18 of this filling to see your options.

https://www.otcmarkets.com/otcapi/company/financial-report/327932/content


From the same report:

Since the underlying obligation to the investors is a BioClonetic obligation as it relates to a sale of the company and capital raises at the Company believes that neither of these scenario’s will never happen,

The wording here is a double negative, so it's anybody's guess. :P