No need to argue the timeframe of the stock sales, as rule 144 allows all of the shares to be sold under a set formula.
The true toxicity of this type of financing comes from the fact NONE of the shares are held by the financing company and the toxic lender's time risk of 6 months is more than compensated by the warrants.
All hes doing is selling shares at wholesale/auction prices.
Actually it's worse as $CYDY is selling stock at already below market price while also giving away shares via the warrants for a double dip discount.
There is huge money to to be made in toxic lending and the OTC.
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