That was the part about they selling of shares.
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Posted On: 12/04/2019 11:10:14 PM
That was the part about they selling of shares.
Here is the other part. It’s rather long: I am on my phone, so I had to copy all of it.
No, no. The 40 million that we have in the final document, as well as the S-1 that is literally complete, which that 40 million will go into to register those shares as well as other monies potentially that we are trying to raise--that's for Generex.
Generex Investor Call Transcript Nov. 29, 2019.
Page 25 of 57
Scott: Joe: Scott:
Joe: Scott: Joe:
Scott: Joe:
Scott:
What I did say about NGIO is that we needed to file the K, which we did on November 12. That K already has NGIO... let's call it audit in the overall Generex. So, we needed to file that K to take NGIO public, because we need that full audit completed to Generex, to split out those numbers and the full audit of that company, which is being done now, so we could take it public-- as well as other things we would work on--legal, and then filings that are required.
But again, we have folks that are working on that. Right now, I've been dealing with Generex, dealing with my health, dealing with surgeries and other things, and my hope is to get that thing public as quickly as possible like I've been saying.
So, that S-1, then, is regarding strictly Generex, and that is a stock issue? And what does that do to the...?
That in not a stock issue, it is a registration to file registered shares in a public offering.
And so, presumably, that public offering is outside of the 70 million shares, correct? So, what we're saying is this S-1 will increase the shares outstanding or...?
I don't understand 70 million shares. Right now, it's 44 million shares approximately out.
But you said the steady state was going to roughly 70, 69 million shares, right? You said that a number of times. So, we've raised $40 million--
Well, that's incorrect. Because if you had listened to my presentation from before, as of right now, we're looking at 90 million shares, because of the group that sold their shares in the last couple of weeks, bringing our stock price down and creating a cascade and other people selling off and creating a panic.
Yeah, so I understand that--
Hold on. Because I don't know--because they sold those shares when they signed the waiver, everyone else signed the waiver. Now, if I hold that dividend right now, does that mean those other dividends go by the wayside? Does that mean that now, it's a full-on dividend to everyone that waives because of the one that waived and... that went against it? Those are the things we're looking to now. But right now, the way I'm looking at it--and I have to look at it this way--it's close to 90 million shares that would be out if I did the dividend today.
And that 90 million would include the shares for the $40 million you're looking to raise.
Generex Investor Call Transcript Nov. 29, 2019.
Page 26 of 57
Generex Investor Call Transcript Nov. 29, 2019.
Joe: Absolutely not. That would be just the dividends. As of right now, we have 44 million approximately out, without dividends, and with all of--like I had
said--with all of the waivers, would have brought me up to about 69 million shares like I said. Now, because of someone breaking the waiver, potentially, it would add 88 to 90 million shares all total.
Scott: So, where does the $40 million come from?
Joe: From registered offering.
Scott: Of additional shares of GNBT stock. I'm not complaining, Joe. I'm just trying to understand because I thought, initially, that we were talking about the
NGIO spin. So, what you're saying is there's 40 million or possibly 70 million that's going to come directly into Generex regardless of the NGIO spin giving us the operating capital that we need.
Joe: Well, you'll see that in the S-1 that will get filed soon. But we would need capital, we haven't raised any significant money, and we need that S-1 filing
to raise the necessary monies to now turn the engines on all the pieces that we just acquired in the last ten months. That's always been the plan, that has nothing to do with NGIO. NGIO, once it's spun out, we'll file its own S-1, we'll do its own registered offering and more than likely would be a NASDAQ company before we could ever be a NASDAQ company, because it is so clean, it doesn't have any hair on it, and it doesn't take much in raising money to get to the NASDAQ for that company.
Here is the other part. It’s rather long: I am on my phone, so I had to copy all of it.
No, no. The 40 million that we have in the final document, as well as the S-1 that is literally complete, which that 40 million will go into to register those shares as well as other monies potentially that we are trying to raise--that's for Generex.
Generex Investor Call Transcript Nov. 29, 2019.
Page 25 of 57
Scott: Joe: Scott:
Joe: Scott: Joe:
Scott: Joe:
Scott:
What I did say about NGIO is that we needed to file the K, which we did on November 12. That K already has NGIO... let's call it audit in the overall Generex. So, we needed to file that K to take NGIO public, because we need that full audit completed to Generex, to split out those numbers and the full audit of that company, which is being done now, so we could take it public-- as well as other things we would work on--legal, and then filings that are required.
But again, we have folks that are working on that. Right now, I've been dealing with Generex, dealing with my health, dealing with surgeries and other things, and my hope is to get that thing public as quickly as possible like I've been saying.
So, that S-1, then, is regarding strictly Generex, and that is a stock issue? And what does that do to the...?
That in not a stock issue, it is a registration to file registered shares in a public offering.
And so, presumably, that public offering is outside of the 70 million shares, correct? So, what we're saying is this S-1 will increase the shares outstanding or...?
I don't understand 70 million shares. Right now, it's 44 million shares approximately out.
But you said the steady state was going to roughly 70, 69 million shares, right? You said that a number of times. So, we've raised $40 million--
Well, that's incorrect. Because if you had listened to my presentation from before, as of right now, we're looking at 90 million shares, because of the group that sold their shares in the last couple of weeks, bringing our stock price down and creating a cascade and other people selling off and creating a panic.
Yeah, so I understand that--
Hold on. Because I don't know--because they sold those shares when they signed the waiver, everyone else signed the waiver. Now, if I hold that dividend right now, does that mean those other dividends go by the wayside? Does that mean that now, it's a full-on dividend to everyone that waives because of the one that waived and... that went against it? Those are the things we're looking to now. But right now, the way I'm looking at it--and I have to look at it this way--it's close to 90 million shares that would be out if I did the dividend today.
And that 90 million would include the shares for the $40 million you're looking to raise.
Generex Investor Call Transcript Nov. 29, 2019.
Page 26 of 57
Generex Investor Call Transcript Nov. 29, 2019.
Joe: Absolutely not. That would be just the dividends. As of right now, we have 44 million approximately out, without dividends, and with all of--like I had
said--with all of the waivers, would have brought me up to about 69 million shares like I said. Now, because of someone breaking the waiver, potentially, it would add 88 to 90 million shares all total.
Scott: So, where does the $40 million come from?
Joe: From registered offering.
Scott: Of additional shares of GNBT stock. I'm not complaining, Joe. I'm just trying to understand because I thought, initially, that we were talking about the
NGIO spin. So, what you're saying is there's 40 million or possibly 70 million that's going to come directly into Generex regardless of the NGIO spin giving us the operating capital that we need.
Joe: Well, you'll see that in the S-1 that will get filed soon. But we would need capital, we haven't raised any significant money, and we need that S-1 filing
to raise the necessary monies to now turn the engines on all the pieces that we just acquired in the last ten months. That's always been the plan, that has nothing to do with NGIO. NGIO, once it's spun out, we'll file its own S-1, we'll do its own registered offering and more than likely would be a NASDAQ company before we could ever be a NASDAQ company, because it is so clean, it doesn't have any hair on it, and it doesn't take much in raising money to get to the NASDAQ for that company.
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