But my point is why someone would pay $4 a share for the NGIO IPO when they can effectively own NGIO thru dirt cheap GNBT shares... becoming somewhat skeptical of the pricing with 400MM shares of NGIO coming out.

If it was 100MM or even 200MM shares maybe I could see a solid price. But if there’s no Covid-related windfall (which wasn’t even on the radar when the share count came out), I don’t see how we get an immediate-NAZ-list-worthy price on so many shares...