Ngio won’t be an IPO. I’ve always been a believer in AExpress, and think the company can do better separately from Gnbt. They can raise their own money, and not play second fiddle to any other new subsidiary of Generex. I’d love to see AE37 eventually earn a true partnership with Merck or another big pharma. First they need success in the open label dosing study to get Merck to make an actual commitment. I’ll say company cap valuation $25-50 million. With a high ceiling beyond, and of course a study failure crashes everything. I believe the combo study will succeed and then a larger one begins raising value all along.