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Posted On: 09/09/2020 5:18:51 PM
Post# of 36566
Correct me if I'm remembering incorrectly, but as I recall, the NGIO S-1 cannot be filed until the "going concern" notation on GNBT is removed. And that cannot be removed until there is sufficient funding, ie the GNBT S-1 that has the possibility to raise $40 - $70 million dollars through a private placement.
If that is correct, then the S-1A that GNBT filed is critical from the perspective of getting the funding to remove the going concern notation. Also, IIRC, Joe does not have to tap all the S-1 potential funding, just enough to continue operations without the GC notation.
What I don't know is IF the potential funding from Malaysia or China would also have the effect of removing the GC notation (or possibly even BARDA funding). Since NGIO is still part of GNBT, any payment for NGIO work would still hit GNBT's bottom line...but is that enough to remove the notation?
Or am I confused as ever, and have this all screwed up?
If that is correct, then the S-1A that GNBT filed is critical from the perspective of getting the funding to remove the going concern notation. Also, IIRC, Joe does not have to tap all the S-1 potential funding, just enough to continue operations without the GC notation.
What I don't know is IF the potential funding from Malaysia or China would also have the effect of removing the GC notation (or possibly even BARDA funding). Since NGIO is still part of GNBT, any payment for NGIO work would still hit GNBT's bottom line...but is that enough to remove the notation?
Or am I confused as ever, and have this all screwed up?
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