Answering Questions: Generex retired an old debt of $3.1 million that has been carried on the books for 9 years, with the note holder opting to receive the full payment in Generex stock at $2.81 per share;
these are restricted shares that will not be unrestricted for at least 6 months and are not eligible for the dividend. Similarly, if any other note holders convert their stock, those shares will also be restricted with the same restrictions. There are no features in any of Generex’s current notes that allow for automatic conversion to free-trading stock, as any such transaction requires a legal process to remove the “restricted” legend. Generex does not have an S1 nor an S3 filed with SEC at this time, which means that no free-trading stock has been granted to date. Plus, as previously reported, I am retiring the roughly 21 million “Pool Shares” such that the effect of the dividend on dilution is significantly minimized.”
Blue Sky, Glad to find a company with such potential, I-Box updated