Cytodyn Inc (CYDY)

[kgromax]

BOMBSHELL 8K

The company got $1.1m in cash, net of new liabilities, in exchange for 37m shares reserved, or less than 3 cents per reserved share.

If ignoring new liabilities, it got $3.4m in cash, or less than 10 cents per reserved share.

The details:

(1) Past toxic loans continue to kill the shareholders with 9.8 million shares additionally gone into the « infinite dilution » black hole
=> $0m cash

(2) Private investors have stopped believing the past lies, with only $1.2 million found after 4 months trying to sell these shares…less fees…
=> $1.1m cash

(3) The company thus had to borrow $2.3 millions with secured promissory notes…backed by the Amarex reserved bond money it had set aside, and with even more expensive terms - not much margin left to survive…
=> $0m cash (and less with the fees…)