Hi Zolis, You don't need to say sorry...it is h
Post# of 36566
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Posted On: 12/14/2019 1:45:44 PM
Re: Zolis_onkel #10003
Hi Zolis,
You don't need to say sorry...it is hard to not be discouraged/frustrated with everything that has happened...that's what the board is for, we try to help each other understand what's going on. I am very grateful for everyone's insights and perspectives...help me sort things out...
As far as raising 40M...this is what I think - for GNBT to be uplisted, one of the ways is for PPS to be $2 for 5 days prior to NASDAQ approval, and to be qualified for the $2 PPS standard, the net tangible assets has to be $2 million. The definition of net tangible assets is when I googled it - "Net tangible assets are calculated as the total assets of a company, minus any intangible assets such as goodwill, patents, and trademarks, less all liabilities and the par value of preferred stock". With this definition, I take the numbers from 10K, GNBT's net tangible assets = negative $36.385M if I take out Goodwill...so, for GNBT to get to $2 million in net tangible assets, they needed to raise at least $38.385M...so, $40M is not that much more...I think that's why Joe kept saying once the S1 is approved then NASDAQ will remove the going concern, and we just need 5 days of $2 PPS.
Having said that..I'd like to say I think Joe is very smart...although things get delayed...I don't think he is someone who would give the farm away...he is too sharp for that! He knows GNBT has lots of potential and that potential can only be fully realized when GNBT is uplisted.
No one knows what PPS will be like at the time when S1 is approved. Hopefully by then, NGIO has spun out and perhaps uplisted to NASDAQ (remember what GNBT has been saying, NGIO will probably be uplisted before GNBT), so maybe GNBT's PPS will be okay then.
You don't need to say sorry...it is hard to not be discouraged/frustrated with everything that has happened...that's what the board is for, we try to help each other understand what's going on. I am very grateful for everyone's insights and perspectives...help me sort things out...
As far as raising 40M...this is what I think - for GNBT to be uplisted, one of the ways is for PPS to be $2 for 5 days prior to NASDAQ approval, and to be qualified for the $2 PPS standard, the net tangible assets has to be $2 million. The definition of net tangible assets is when I googled it - "Net tangible assets are calculated as the total assets of a company, minus any intangible assets such as goodwill, patents, and trademarks, less all liabilities and the par value of preferred stock". With this definition, I take the numbers from 10K, GNBT's net tangible assets = negative $36.385M if I take out Goodwill...so, for GNBT to get to $2 million in net tangible assets, they needed to raise at least $38.385M...so, $40M is not that much more...I think that's why Joe kept saying once the S1 is approved then NASDAQ will remove the going concern, and we just need 5 days of $2 PPS.
Having said that..I'd like to say I think Joe is very smart...although things get delayed...I don't think he is someone who would give the farm away...he is too sharp for that! He knows GNBT has lots of potential and that potential can only be fully realized when GNBT is uplisted.
No one knows what PPS will be like at the time when S1 is approved. Hopefully by then, NGIO has spun out and perhaps uplisted to NASDAQ (remember what GNBT has been saying, NGIO will probably be uplisted before GNBT), so maybe GNBT's PPS will be okay then.
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