Cytodyn Inc (CYDY)

[justdafactss]

Then lets harp on this 2/22/2024 filing--- As of November 30, 2023, we had approximately 398.1 million unreserved authorized shares of common stock available for issuance. Our ability to continue to fund our operations depends on our ability to raise capital. The funding necessary for our operations may not be available on acceptable terms, or at all. If we deplete our cash reserves, we may be forced to file for bankruptcy protection, discontinue operations, or liquidate our assets.
https://www.sec.gov/Archives/edgar/data/1175680/000155837024001547/cydy-20240130x424b3.htm

Prime EXAMPLE---

Polished.com Suspends Operations and Announces Intention to File for Chapter 7 Bankruptcy Protection

Polished.com Inc. (the “Company” or “Polished”) (NYSE American: POL) has suspended its operations. These steps followed a comprehensive review by the Company’s Board of Directors of available strategic alternatives, and upon consultation with the members of the Company’s management, with the assistance of the Company's legal and financial advisors. The Company anticipates filing a case under the provisions of Chapter 7 of the Bankruptcy Code as soon as practicable.

As recently disclosed, following the Notice of Acceleration from its lenders earlier this month, the Company was working to reach a resolution with its lenders and exploring multiple paths to obtain additional financing to sustain operations. Despite working aggressively to raise capital and improve its liquidity position, the Company was unable to obtain additional financing.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240229885336/en/