Cytodyn Inc (CYDY)

[kgromax]

WRONG AGAIN

The Cytodyn document RESTATES past filings - why would it be published now if this was already known.

You didnt provide any proof to support your statement. Hence this statement is pure BS.

Here is my proof - the document (anybody can verify it is authentic and new):
https://www.cytodyn.com/investors/sec-filings/all-sec-filings/content/0001558370-22-012454/0001558370-22-012454.pdf

And some key excerpts:
“During the preparation and audit of the annual financial statements as of and for the fiscal year ended May 31, 2022, the Company concluded that a material error was identified in how the Company was accounting for common stock issued to settle certain convertible note obligations dating back to fiscal year 2021. The Company had been accounting for these transactions in accordance with debt extinguishment accounting. However, although the contractual terms did not explicitly describe the transactions as induced conversions, the transactions should be accounted for as induced conversions rather than extinguishments of debt and are therefore subject to induced conversion accounting.
The Company anticipates that the restatement for these errors will result in changes of previously reported non-cash loss on convertible debt settlement, additional paid-in capital, accumulated deficit and net loss as follows in each presented period: …
In connection with the restatement, the Company’s Principal Executive Officer and Principal Financial Officer have determined that a material weakness in the Company's internal control over financial reporting existed as of August 31, 2020, February 28, 2021, May 31, 2021 and August 31, 2021.“