NanoViricides Inc. (NNVC)

[seeker_of_value]

Yesterday Seaside was able to unload some of their shares. In between our volume was so low that Seaside had to buy shares from NNVC, but had no opportunity to sell them in a very weak market. Yesterday the volume was decent and my estimate is that Seaside unloaded about 500K shares. Think about it, who else would sell in the 70 cent range? Most of us have very high hopes on this company and have bought shares mostly at higher prices, so none of us would take a loss and sell shares at a loss on a day when very good news came out. Seaside on the other hand has been collecting shares for 1 1/2 months, they had to sell yesterday since they make a profit even when selling at such depressed prices. Seaside selling caused the shares to eke out only a minor gain yesterday on the back of such good news.

This is the reason I have not liked the recent Seaside agreement. It is one thing to sell shares in the market when the stock is strong, it is quite a different matter to keep selling at such depressed prices. Such relentless selling will destroy the stock price. I would have preferred if management had given say 3 months for the stock price to recover well above $1 and then sold more through Seaside.