NanoViricides Inc. (NNVC)

[JG36]

Actually you and I have little real disagreement. I fully agree that it is the nature of biomedical research that things take longer than you think, even after you take into account that things take longer than you think. And that's the point. We are told that NNVC has enough money to get through phase I/IIa testing. I believe that is true, provided there are no serious setbacks and delays. But we know that NNVC has experienced years' worth of setbacks and delays in the past, so we shouldn't be too surprised if there are more in the future. And time is money. NNVC has to spend money every month. So with enough delay there will be more rounds of share dilution, and a greater probability of outright bankruptcy. That is why I see this as a lottery ticket with enough upside to be worth holding, not the near sure thing that Puffer thinks it is.