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Posted On: 08/08/2020 2:31:26 AM
Post# of 36541
In general, I do not know if anyone of you still remembers, that about a week ago I was still hoping to receive the best ever birthday present via BARDA funding approval. Well, here I am on my birthday, but now it just looks as if the exact opposite has come true. Instead of GNBT receiving money for free from BARDA, they are giving away 25% of the company for not quite $10m (is my calculation correct? 5m shares for $2m, plus 15m warrants to buy shares at $0.5x/share, right?)
This is what I have asked Joe in two CCs explicitly about, how he wants to make sure that he is not giving away "half the company" at this low pps levels (back then in the first Oasis financing "instrument", which they still today wait for the S1 approved by the SEC for). And he replied (very briefly summarized) "not going to happen", he would only take a small amount of money out of this line credit and then invest it such that it will have a positive effect on the pps, etc.
Now here we are exactly with that kind of toxic financing deal which gives away a significant fraction of the company at the lowest pps of the year, and that LOW most likely created by the same crooks that GNBT are now signing such a deal with and making them one of the largest shareholders of this company. Congratulations for that, Joseph Moscato. And thanks a lot for the worst gift I have ever received for my birthday.
This is what I have asked Joe in two CCs explicitly about, how he wants to make sure that he is not giving away "half the company" at this low pps levels (back then in the first Oasis financing "instrument", which they still today wait for the S1 approved by the SEC for). And he replied (very briefly summarized) "not going to happen", he would only take a small amount of money out of this line credit and then invest it such that it will have a positive effect on the pps, etc.
Now here we are exactly with that kind of toxic financing deal which gives away a significant fraction of the company at the lowest pps of the year, and that LOW most likely created by the same crooks that GNBT are now signing such a deal with and making them one of the largest shareholders of this company. Congratulations for that, Joseph Moscato. And thanks a lot for the worst gift I have ever received for my birthday.
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