Replies to post #116583 on Protagenic Therapeutics Inc. (PTIX)

[smakkdaddy]

Which is exactly what it seems like they are about to do…

The information required by Items 4(a) - (c) is set forth in Rows (5) -
(11) of the cover page for each Reporting Person hereto and is incorporated
herein by reference for each such Reporting Person.

The Company's Quarterly Report on Form 10-Q for the quarterly period ended
September 30, 2015 filed with the Securities and Exchange Commission on
November 13, 2015, discloses that the total number of outstanding shares of
Common Stock as of November 11, 2015 was 400,000,000. The percentage set
forth on Row (11) and the number of shares of Common Stock set forth on rows
(6), (8) and (9) of the cover page for each Reporting Person are based on
the Company's total number of outstanding shares of Common Stock and assume
the conversion of convertible notes and convertible preferred stock
(collectively, the "Securities"), subject to the 9.99% Blocker (as defined
below) or the 4.99% Blockers (as defined below), as applicable.

Pursuant to the terms of certain of the Securities, the Reporting Persons
cannot convert or exercise such Securities if the Reporting Persons would
beneficially own, after such conversion or exercise, more than 9.99% of the
outstanding shares of Common Stock (the "9.99% Blocker"). Pursuant to the
terms of certain other Securities, the Reporting Persons cannot exercise
such other Securities if the Reporting Persons would beneficially own,
after such exercise, more than 4.99% of the outstanding shares of Common
Stock (the "4.99% Blockers" and together with the 9.99% Blocker, the
"Blockers"). The percentage set forth on Row (11) and the number of shares
of Common Stock set forth on rows (6), (8) and (9) of the cover page for
each Reporting Person give effect to the Blockers. Consequently, at this
time, the Reporting Persons are not able to convert all of such Securities
due to the Blockers.

The Investment Manager, which serves as the investment manager to Hudson
Bay Master Fund Ltd., in whose name the securities reported herein are
held, may be deemed to be the beneficial owner of all shares of Common
Stock, subject to the applicable Blocker, underlying the Securities held
by Hudson Bay Master Fund Ltd. Mr. Gerber serves as the managing member
of Hudson Bay Capital GP LLC, which is the general partner of the
Investment Manager. Mr. Gerber disclaims beneficial ownership of these
securities.

There's more than 10% of those shares right there, at that magic 400 mill # which the investment manager is forced to hold

Looking very good indeed IMO