“Was this the wealthy California Investor alluded to in past CytoDyn presentations?”
Probably not. Welch is too smart and experienced to have given any funds to CYDY with NP as CEO
“Looks like CytoDyn has a heavy weight benefactor in their corner now.”
His assistance with the bond was not cheap. He’d net $4 million if he converts the bond tomorrow. His assistance is great in a time of need, but he understands the situation and that’s why the patents are collateral.
I wouldn’t call someone who has collateralized ALL of Cydy’s patents/ value over
a $6.5 million pledge a benefactor.
THAT BEING SAID, THE BOD is doing the best they can with the dumpster fire left behind by Nader.
Another step forward , but also a very telling sign of the company’s dire straits. Puts all the buyout and partnership dreams to bed at least for now.
Also pegged the price for LL… $6.5M.
Welch is at least familiar with the possibilities of LL and it is a sliver of hope that something can be salvaged from this wreck. Long precarious road ahead. Or a short one if they default.
Dr. Welch was formerly a board member of Cytodyn, quit October, 2020. He owns a lot of stock and is doing the surety bond because he has good credit and can get a better deal than Cytodyn. He's getting 15 million warrants convertible at $.30 a share -- so pretty good profit for just tying up some cash for a few months -- $4,500,000 at todays price. Pretty good return.
All that because Cytodyn doesn't have the cash to put up for the surety bond.
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