Question for the board: Does anyone recall Joe
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Does anyone recall Joe talking or posting about another biotech company as a comp to use for what he thinks GNBT can be? Of course now we are talking about a spin off plus a MSO etc.
As far as the MSO model is concerned during the CC in December he brought up the following during questions:
Lee Newarsh: Yeah, my question is do you guys plan to increase shares in the future like up to 100 million, half a billion, because 28 million is unsustainable. Like right now, I notice you guys just paid off Hema Diagnostics with 32,000 shares. So if your way of bringing these companies paying them by shares, then you might need to increase your shares., I believe.
Joe Moscato: Hold on, we took out $625,000 approximately with 32,000, with 32,000 approximate shares. That was exchanged for common stock at 18.99 per share on Friday's closing price. We also took out $13.5 million in complete debt. That will come off the Generex books in our next quarterly filing. That will go substantially towards our shareholder equity, which will enable us even further to up list to a national exchange. You know, as far as shares out, do the comparable. Twenty-eight million shares is not a lot of shares for a NASDAQ or a New York Stock Exchange company. If you take a look at off the top of my head, another MSO that we use as a comp, Apollo AMEH, they started out with 33 million shares. They are on the NASDAQ and they trade around $20 a share. They have an MSO. We have an MSO. So our hope is that the hard recognition of what an MSO, as well as the ancillary services business is, as well as all the other businesses we are acquiring will be recognized in our stock like Apollo. But again, we have 28 million shares out as far as right now. That will increase somewhat, but we are not, Generex
Generex Conference Call Dec. 3, 2018
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will not be raising any equity. So if we max out at somewhere between 60 and 75 million shares, I would say that would probably be top line after all the things that we need to get done here.
I don't think he mentioned a comp for a biotech during the call but at some point it was brought up or so I remember. Does it ring a bell to anyone?