That's nothing. This will run regardless as long as it works. 120 m shares added is just more $$ for the mm's to make on the way up. I saw a pos scam run to .033 with 2.1 billion float. This is Covid treatment with 350-400 mil. Imo this could be .30 next year.
Yes..122million shares @$.001. It's called predatory venture capital lending. And whether or not it's worth diluting shareholder value by 1/3 as these shares hit the market...will depend on the results of their research and what they do with this $2Million to advance it QUICKLY! If they can secure a patent for a COVID drug worth $billions...then shareholders would benefit regardless of the dilution
As far as alternatives they could have taken...that's another story. Not sure if all avenues were exhausted before this funding route was taken. That's the job of a CFO and if we didn't seriously look at selling the company's IP first and what the return would be under that scenario..then the CFO didn't do his job. OR maybe Dr. Steve doesn't want to sell now because he wants the personal glory of the discovery down the road...After all he's already a billionaire (he sold a company for $1BN before)
As an investor, I would have preferred an asset sale now for $1-$2 per share and be done with it. We now know that this technology is likely to be successful (UGA tells us that)...so they should have looked at selling it and the patent pending with it as an alternative.
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