Replies to post #127966 on NanoViricides Inc (NNVC)

[bloomvest]

and delivering nothing! Never has and never will

I listened to the meeting again and what is very disturbing is how he justifies charging NNVC (though he never mentions the cost +30%) by saying:

"many such arrangements have milestone payments, royalty payments..., but we decided not to do that, i'm just covering my butt, i don't want to take losses for work being done for NNVC"

Covering costs is covering your butt. Taking a 30% mark up is using it as an ATM.

[NewMoney]

Yeah, it's hard to take a milestone payment without reaching a milestone. They clearly knew that wouldn't work so they didn't go that route. Hence the ATM strategy.

[JG36]

So Dr. Diwan is covering his butt so he doesn't take losses when he fails to get stuff done (like tox) while working for NNVC. I sure wish investors could cover their butts in this way.