Replies to post #187269 on Cytodyn Inc (CYDY)

[Evil Rabbit]

I have little doubt the IB wanted our IP as collateral. But the 13 Angry Men would never reveal that important little tidbit.

[Northstar42]

To my knowledge, the issue of the IP was not mentioned, but I do not think the BoD at that time would have agreed to allow it to be collateral for financing. Following the meeting referenced by Dr. Errico, Nader Pourhassan managed a reconstitution of the Board which allowed him to act unilaterally without proper oversight, at least that is the impression I got. With Scott Kelly and Jordan Naydenov's support, Pourhassan effectively neutralized the Directors responsible for audit and compensation oversight. The results of progressing without proper controls are in the operational and legal record. Not a pretty sight.