No way to sticky questions here, right? Just some of my questions and I am sure they could be worded better by someone with talent for writing vs complaining.
1) Did we get an acknowledgement from the SEC they rec'd the S-1?
- Have we rec'd a response yet and if so what follow up information did they request and has that info been sent?
2) What resource is available to look up the number of shareholders in Generex stock?
3) Has there been an employee benefit plan set up such that employees of Generex can buy stock in a legally compliant manner?
4) Bear with me on this as I have to relay information before I can get to the question at the end.
Generex on 11/26 released the first shareholder alert "regarding recent trading activity" in the companies stock.
However, back on July 25 during the CC you took a calls regarding the selling of restricted shares during which the following discussions took place:
Joe Moscato: I have no idea how anyone could sell restricted shares.
Jacob Kaufman: You know who owns them and you know how legally they are locked in. so if you are saying it’s impossible, then it’s impossible.
Joe Moscato: On restricted shares it’s impossible. As far as the –
Earlier during the CC you took this call:
Richard Proctor: I’m watching stock price go up and then I see it get hit with 50,000, 60,000 shares and I’m wondering if those are people that are unloading cheaper shares just to make the profit.
Joe Moscato: No, not at all. There’s nobody that has any shares from any notes. No one has gotten any shares from any notes. Any shares that potentially could come in any market, and again I haven’t given out a lot of shares to anybody. So any shares that could come in the market would be restricted. I have no registration statement approved. So I don’t believe it would be any shares coming into the market of any kind of significance for a long time. I haven’t given anybody any.
Richard Proctor: It’s almost like a dream; too good to be true. I’ll hear the story and I’m looking for where’s the crack in this because it can’t be – there’s nobody out there that’s going to put the shareholders first. This has got to be a thing where if you look on the other side there’s the catch. But I don’t see it and thank you. That’s all I got to say.
Joe Moscato: Don’t take my word for it. I’ll instruct our TA _____ [01:17:22] you want to call them and ask them if anybody has ever –
Richard Proctor: I’ll take your word for it Joe. You seem to be that kind of guy. So I’m just going to go with my gut –
Joe Moscato: Appreciate that.
Generex Investor Call 07/25/2019
Page 24 of 29
Richard Proctor: More cash, I’ll buy more stock.
Unidentified male: Joe just as clarification on this. This morning there was some – there are some instruments out there that are convertible and just this morning there were some conversions. They like what’s going on and they want to participate.
Joe Moscato: But they’re restricted shares. I just said free trade shares. Restricted shares are completely different than free trade shares.
Unidentified male: There is a mechanism for them to go free trading on it.
Richard Proctor: The game is played the way it’s played; so you got to bet against it. So that’s good. I pretty much got what I came to hear _____ [01:18:17] other than I’m pleased with what you’re doing and I hope this thing works out for everybody. The last question I asked in a conference call was to Anna _____ [01:18:27], you know? I’m good with what’s going on and I’m hoping to see a big change here.
Joe Moscato: All I can say is I’m in New York and like I said, if someone tried to convert something again, it’s only going to be restricted shares because there is no registration. Again I appreciate the call, thank you very much.
Joe, please explain these two discussions and clarify how, if at all the CM and Venoto selling applies.
5) Please list, specifically, what items remain to be completed for Generex's NAZ up application to be approved so the up listing can be completed? What steps are needed to achieve those items being completed? What is the expected time frame?
6) Have you contacted all parties who own Generex shares as a result of what has occurred with CM and Veneto and have any of those parties sold shares? Have these parties assured you they will not sell and are there any new agreements in place covering this possibility.
7) If the dividend is to be distributed, when? How many shares will there be after the dividend is provided? The parties who own shares as part of their purchase agreements are still not eligible to receive the dividend, correct?
Investors are concerned they may have purchased shares from CM or Veneto that may not be eligible for the dividend. Is this an issue?
9) Please explain the steps needed to take NGIO public and which exchange do you anticipate the company shares trading and when? Where are we at in the process? Recently some have brought up the possibility a separate S-1 will need to be filed. Please clarify. Where will the operating funds for NGIO come?
10) Can you give an update on the AE37/Keytruda study?
11) What law firm is handling the CM matter?
12) What is Dr Kiran Patel's current association with Generex? Where do you see his involvement moving forward? Say 6 months from now.
13) I am sure he will provide not a lot of detail on CM and Veneto but I would want to know if we are having back and forth discussions and if Generex has filed any legal documents as of yet.