Include share swap Contingent Value Rights (CVRs)

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Include share swap
Contingent Value Rights (CVRs) which may be payable based on the completion of certain development, regulatory and commercial milestones.
Pull a Xerox, go around management straight to Cydy shareholders
Buy shares open market

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With a share swap anything significant enough would put their own shareholders up in arms.

I don't think our shareholders would go for a CVR.

Doing straight to shareholders with an offer not acceptable to the BOD would launch a poison pill using A and B shares.

With 700m shares getting enough % while pushing the price up to seat a majority of BOD members could get costly. If they then tried to do a BO at a low price, lawsuits galore. Possible launch of poison pill.