If it's anything like I participated in previously, yes, Tony 'lent' Cytodyn $1 million in a promissory note. But at the end of the term of the note (6 months?) the principal plus the 7% interest is convertible into shares at .75 and I believe it includes 20% warrants as well. He would get 1,333,333 shares plus an additional 16,666 shares due to the $35,000 interest from the note (7% annual interest for 6 months) as well as 26,666,666 warrants (I think the exercise price was $1.35).
Someone please correct me if my memory failed me.
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