That $40M is probably half that. Company has to prepare to delist or worse, bankruptcy. The notice is a week away.
Corporate investors who have to be paid back will be the first to dump everything to get their investment repaid before suing SBFM along with penalties from being non compliant with NASDAQ and unable to convert warrants to $4.25 a share.
That $40M has to be paid back one way or another, and SBFM does that by using dilution and retail share holders.
That PPT they released was to save their ass with a new round of investors and look how well that worked.
Market cap is hovering between $12-14M and falling.
Danger Will Robinson. This scam hasn’t addressed anything and there is no reason to believe it can recover. Shareholder communications is nonexistent, why would anyone loan this company more money when it went from $8 to $0.65 in less then a year and they have released no PR’s, self promoted or paid articles for nearly 2 months now.
Even the market agrees and they have corporate hedgers shorting and registered the short with a 13F because SBFM is a worthless shell and have nothing of value.
Pumpers would be all over this but they aren’t. This scam may be frozen, suspended, investigated and audited.
The claims they made mostly regarding SBFM-PL4 (Covid) probably got them on a watchlist.
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