I am the manager of Cool Blue Capital. We have not sold a single share of CytoDyn stock and have no plans to do so. The SEC filing that you all are looking at, the S-3 that was filed last week uses misleading terminology calling us a "Selling Shareholder". It refers to all investors acquiring a significant number of shares through a private offering as "Selling Shareholders". The fact is that we have not sold any shares and have no plans of selling any time soon.
The S-3 filing also says, in the note above the table from which you draw the share count numbers referenced in your post ...
The following table is based on information provided to us by the selling stockholders and is as of April 30, 2020, except as otherwise noted below. The selling stockholders may sell all or some of the shares of common stock they are offering, and may sell, unless indicated otherwise in the footnotes below, shares of our common stock otherwise than pursuant to this prospectus. The tables below assume that each selling stockholder sells all of the shares offered by it in offerings pursuant to this prospectus, and does not acquire any additional shares. We are unable to determine the exact number of shares that will actually be sold or when or if these sales will occur.
Again, an S-3 simply registers previously unregistered shares so that they are ABLE to be sold.
It does not, in any way, constitute evidence that the "selling shareholders" intend to sell OR actually did sell any of their position.
In your numbers, you assumed that the selling shareholders sold all shares registered by the S-3. There is nothing in the S-3 (or any other SEC filing) that renders that assumption valid.