Replies to post #200050 on Cytodyn Inc (CYDY)

[justdafactss]

The SEC warned CYDY once already about material weaknesses---

Item 3. Legal Proceedings.
On April 17, 2018, the staff of the Division of Enforcement (the “SEC Staff”) of the SEC issued a “Wells Notice” indicating that the SEC Staff is considering recommending that the SEC institute proceedings against us alleging that we violated certain provisions of the federal securities laws pertaining to the disclosure of material weaknesses in our Internal Controls over Financial Reporting (“ICFR”) during the period from 2008 to 2016. A Wells Notice is neither a formal allegation of wrongdoing nor a finding that any violations of law have occurred. Rather, it provides us with an opportunity to respond to issues raised by the Commission and offer our perspective prior to any SEC decision to institute proceedings. Subsequently, we entered into negotiations with the SEC Staff during which we reached an agreement in principle to settle this matter. As part of the proposed Offer of Settlement, we would (i) neither admit nor deny any wrongdoing, (ii) pay a monetary penalty of $35,000, and (iii) agree to cease-and-desist from committing or causing any violations or future violations of those provisions of the federal securities laws. During the course of these negotiations, we took steps to improve our ICFR and we have remediated the material weaknesses in ICFR and determined that, as we previously disclosed, our ICFR was effective as of May 31, 2017. As a result of our remediation efforts, the SEC Staff lowered the monetary penalty in the proposed Offer of Settlement to $35,000 from $50,000. Final resolution of this matter is subject to mutual agreement on the language of the Offer of Settlement, as well as final approval by the SEC. Accordingly, there can be no assurance that our efforts to resolve this matter will be successful or that the settlement terms will be as anticipated
https://www.sec.gov/Archives/edgar/data/0001175680/000119312518229738/d840102d10k.htm

[3X Charm]

Astounding incompetence for the money paid to these CYDY EXECUTIVES.

They are trying to clean up their act with the embellishments in the 10Q of all the shady shenanigans over the years, now that the SEC and DOJ closing in.

I CAN HEAR THE SHREDDERS IN VANCOUVER FROM my porch in Tampa.

I wonder who will flip?