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Friday, March 03, 2023 2:01:09 AM
they are essentially out of cash and almost out of shares. welch already has 45,000,000 warrants and 9,000,000 shares. they gave him 15m warrants 3 times now in lieu of the bond repayment. does he even want another 15m? sure, if they strike gold, he'll be rich, so the more the better. on the other hand, they can't strike gold if they go bankrupt. taking another 15m warrants from them at this critical juncture might be a bridge too far. but i guess its the same either way... if they pay him then that leaves them with ZERO DOLLARS right now. if he takes another 15m warrants instead, then they are down to less than 65m available shares, which they still use/require regularly for various other purposes - paying vendors, debt renegotiation, warrant exercise agreements, employee equity incentives (believe it or not!), etc. its a tough time for all involved over at cytodyn.
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