There was a caller towards the end from Germany, m

There was a caller towards the end from Germany, maybe one of ours here based on the questions who was trying to get us a syllabus for sequence of events. I agreed with his line of reasoning and at what Joe alluded too that DIV—>NGIO Spin out—>Increase in value for GNBT—>S-1 equity raise @ $40MM which ideally is less dilution due to unlocked value present in the Future SP. But that proposal hinges on a lot of things happening correctly and in the near term. It is clear that the $40MM is an equity raise which in today’s SP’s world reduces our ownership by more than 50%. Will be an interesting last leg of the race here.....