“ Nader Made This Company what it is Today “ …could not agree more,
CYTODYN has 1 billion shares and closed at $0.575 per share today, after trading at $6.20 per share in Feb 1 2021. It has no money, no way of making money, and no drug approvals. After almost ten years of NADER LL is still an unproven drug.
In the 3 years with Nader and Kelly at the helm ( 2019 to 2022), the AS were increased by 300million shares and over 40% dilution.
Also over $300 million in operating expenses were incurred or around 6 times more per year that the prior 6 year period.
And what did shareholders receive over the 3 year period?
A fraudulent HIV BLA submission and RTF on an indication that met endpoints in a combo trial in 2018.
Nader purposely botched the submission as revealed in an email to Amarex to appease message board posters and attempts to manipulate the SP. That scam worked and Nader traded on the pump to the tune of over $15.2million in ill gotten gains.
During his reign, there was no oversight for the CRO, Amarex, leading to a claim of faulty work and over billing after years of compliments by Nader. Now our data is tied up in court due to lack of $12m in payment and requirements to post a $6.5 million CASH BOND. The cash bond is a requirement due to the poor financial condition foisted on the company by Nader. These bonds usually cost a fraction of the face amount to secure.
Company credibility has been destroyed by lies , missed deadlines and the FDA public rebuke of Nader and the company. The FDA has commented on the missed Deadlines for the HIV BLA resubmission.
Nader purposely conducted the CD 12 trial with 2 doses, despite knowing 4 doses were required. What kind of idiot runs a 2 dose full trial, instead of a small dosing trial to prove up the 4;dose theory. Another stock pump shortcut that cost shareholders valuable time and millions in wasted trial and analysis costs.
This brings us to the squandered tens of millions on lawsuits for Pestell, unjust enrichment and a proxy war that Nader won, but we all lost.
The company is insolvent. There is little cash, Samsung is due $35 million in days and $6.5 million is due in days for the Amarex bond. Without that data the HIV BLA is in limbo.
The 200million shares authorized are not shelf registered and will be steeply discounted with the current SP making total debts higher than any cash value… this makes the company insolvent. If I am not believed read the 10Q which outlines the dire financial condition of CYDY, it’s cash position and lack of ability to raise cash.
Lastly we have the SEC and DOJ investigations. Hopefully the fines do not put Cydy out of business, but do put Nader and Kelly in Prison.
So yes, Nader IS responsible for no trial success, a fraudulent HIV BLA submission, an RTF, unprecedented FDA rebuke, toxic debt and no cash.
This is the current state of Cydy, a company on the edge of complete financial disaster, and NADER IS THE EXACT REASON Cytodyn IS IN THIS POSITION!
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