Renovaro Biosciences Inc (RENB)

[janice shell]

"In addition to Hindenburg’s shorter attack, we became aware yesterday that our Company was listed without our knowledge on the Berlin stock exchange. We are taking immediate legal action to file a complaint with the proper authorities."

Seriously? Why are they trying to make it sound as if there's some relationship? Seems Renovaro's been trading on the Berlin exchange since at least 2020. Here's a five year chart:



https://www.boerse-berlin.com/index.php/Shares?isin=US29350E1047

See also:

https://www.boerse-berlin.com/index.php/Investor_Information/Open_Market

See also this information:



If nothing else, it shows the company was still called Enochian Biosciences when it was listed in Berlin. The name change from Enochian Biosciences took place in August 2023. And just two days ago, The company once again changed its name, to Renovaro Inc:

On February 13, 2024, the Company changed its corporate name from Renovaro Biosciences Inc. to Renovaro Inc. (“Renovaro”, and together with its subsidiaries, the “Company”, “we” or “us”). In August 2023, the Company changed its corporate name from Enochian Biosciences Inc. to Renovaro Biosciences Inc. The Company engages in the research and development of pharmaceutical and biological products for the treatment of cancer, HIV, and HBV with the intent to manufacture said products.

https://www.sec.gov/Archives/edgar/data/1527728/000173112224000248/e5415_10q.htm

Now, it has gone through a number of name changes:



In the text of that document, which is the company's 10-K for fiscal 2023, RENB makes no reference to its other former names, DanDrit Biotech USA, and Putnam Hills Corp.

https://www.sec.gov/Archives/edgar/data/1527728/000173112223001770/e5061_10k.htm#a_003

DanDrit was featured in a merger that ended with Enochian Biopharma as the surviving entity:

On January 12, 2018 (the “Agreement Date”), Dandrit Biotech USA, Inc., a Delaware corporation (the “Registrant” or “Parent”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, DanDrit Acquisition Sub, Inc., a Delaware corporation and a wholly owned subsidiary of the Registrant (“Merger Sub”), Enochian Biopharma, Inc., a Delaware corporation (“Enochian” or the “Company”) and Weird Science LLC, a California limited liability company and the super majority stockholder of Enochian (the “Majority Stockholder”). The Merger Agreement provides that the Merger Sub will merge with and into Enochian, with Enochian as the surviving corporation (the “Merger”).

https://www.sec.gov/Archives/edgar/data/1527728/000121390018000600/f8k011218_dandritbiotech.htm

Note that that filing was made by DanDrit BEFORE it became Enochian. It is entirely possible that it began trading in Berlin before 2018.

And this is an explanation of the 2014 merger of DanDrit with Putnam Hills Corp:

https://www.sec.gov/Archives/edgar/data/1527728/000121390013006509/f8k110713_putnamhills.htm

Once DanDrit had completed the merger with Putnam Hills an began trading in the US, it filed to do an S-1 offering. The SEC had comments. This is funny:

Please tell us how the “earnings per share” that you present here and elsewhere outside of the financial statements based on the DanDrit Biotech A/S and subsidiaries’ capital structure is relevant to an investor. Also advise why you use the term “earnings” when only losses have been incurred.

https://www.sec.gov/Archives/edgar/data/1527728/000000000014013101/filename1.pdf

In the S-1 itself, DanDrit's international subs are referenced:

Functional Currency / Foreign currency translation — The functional currency of DanDrit Biotech USA, Inc. (Formerly Putnam Hills Corp.) is the U.S. Dollar. The Functional Currency of DanDrit Biotech AS is the Danish Krone (“DKK”), and the functional currency of Dandrit Corporation PTE. LTD. is the Singapore Dollar, The Company’s reporting currency is U.S. Dollar for the purpose of these unaudited proforma condensed combined financial statements. The foreign subsidiaries balance sheet accounts are translated into U.S. dollars at the period-end exchange rates and all revenue and expenses are translated into U.S. dollars at the average exchange rates prevailing during the periods and years ended 2013, 2012 and 2011. Translation gains and losses are deferred and accumulated as a component of other comprehensive income in stockholders’ equity. Transaction gains and losses that arise from exchange rate fluctuations from transactions denominated in a currency other than the functional currency are included in the statement of operations as incurred.

It seems possible the listing on the Berlin Boerse happened that early, or at any rate during the years preceding the eventual merger of DanDrit and Enochian.

https://www.sec.gov/Archives/edgar/data/1527728/000121390014000933/fs10214_dandritbriotech.htm