Welch was a client of Paulson brokers who were terminated. He was able to secure a sweet gig based off his relationship. He has ZERO healthcare experience. For putting up a bond ( which means he did not invest that money) he got 15,000,000 common shares and 15,000,000 warrants.
They also raised 2m buy giving shares away at .40
Weird, they have a 100b molecule yet keep selling stock at lower and lower prices... Probably nothing.
Company couldn't put up the surety bond cash. Welch was a former board member and quit 10/20. He sold most of his stock. He knows the company very well.
But Cytodyn gave him a deal he couldn't refuse. For just using his credit rating to get a cheap surety bond, he's going to make millions in just a few months -- 15,000,000 warrants he can convert immediately. Sweet deal for Welch and it makes the surety bond possible for Cytodyn -- the didn't have the cash to put up the surety bond themselves.
Laughing..Welch didn’t invest in Cydy. He now is CYDY. If the company defaults he gets LL patents. This is a loan shark type deal, which is the only deal a company on the brink of BK can get. The deal Welch did speaks volumes on a number of fronts.
1. Welch the former director and insider believes in the drug LL.
2. The company is absolutely desperate and in dire straights to pledge the patents for $6.5millio. There is Nothing more desperate than pledging your “ Golden Goose”. This gives strong validities the fact that Cydy is one step ahead of BK. Hopefully the Amarex data changes that.
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