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Posted On: 05/04/2020 6:25:08 PM
Post# of 154091
Quote:Not trying to be argumentative, but we were told in the last call that NASDAQ requires the equivalent of a total of 4 (four) previous quarter of operating expenses in order to qualify for uplisting.
Nader sold shares to help meet supply deadlines and infuse cash into the company to get up-listed.
As Dr. NP stated in that very same call, CytoDyn spent ~$55M in the past 4 quarters. He has also mentioned, on several occasions, that uplisting was not a priority.
So, I don't really think that he "sold shares to ... infuse cash into the company to get up-listed".
One could maybe say that indirectly, the infusion of cash helps us to achieve COVID approval, and (subsequently) attract funding/generate revenue, either of which might allow uplisting in the future. But I don't think his motivation relating to recent events had anything to do with uplisting.
Happy to hear other opinions and/or be proven wrong.
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