"Since July investors have been patiently waiting for an uplisting and finally got a very positive response from the NASDAQ. CEO Pourhassan said “any item that they request will be handled immediately. I’m very optimistic that we could uplist as soon as we hear the next steps from NASDAQ.” Adding to the optimism was the CFO Mulholland, who alluded to the fact that as of last quarter they were $2.3 million short of the $5.0 million net equity requirement as well as the $4.00 minimum bid requirement. Mike Mulholland CytoDyn’s CFO said
“We have a plan to cure the shortfall in equity.”
The quarterly report is due to be filed by the 15th of January, and based on the equity infusion from a private investor and conversions of debt into equity the company should handily exceed their $5 million net equity requirement. Pourhassan assured investors that they have very quick access to capital and can raise whatever they need to ensure positive equity exists for an uplisting. CytoDyn is the number 1 volume traded stock on OTC Markets, so if they aren’t worthy of an uplisting who is? When you connect these dots the NASDAQ listing seems likely the week of January 18th assuming NASDAQ likes what they see on the 10-Q report. For the past 2 quarters it seems like NASDAQ was holding back and simply wanted to see a filing with a $5.0 million equity before they would grant an approval. "
AND THEN THIS
Nader Pourhassan, Ph.D., President and Chief Executive Officer of CytoDyn, commented: “While we realize the regulatory review of our application to uplist to Nasdaq will take several weeks, we believe the Company is well positioned for success. As we advance the evaluation of our drug, leronlimab, including the upcoming results of the COVID-19 trials, we believe a listing on Nasdaq will enhance shareholder value by providing our shareholders with improved liquidity and by giving us greater access to the capital markets, which will allow us to achieve our objective of bringing leronlimab to market.”
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