My opinion is that FINRA probably told them the 17
Post# of 36537
As a side regarding CMT and Veneto. I’m kind of bipolar on this. My personal natural instinct is to make them pay. Sue them etc. but when I think about their position. They sold assets for GNBT shares. GNBT announces div and excludes them. Whether willingly or forced by BOD vote they waive the div. Now since the public interest in the Co is increasing obviously their stake is decreasing. That alone would piss me off if I were them. Add to that that GNBT announces spinning NGIO. Now you have a smaller stake in a less valuable Co. Lastly GNBT changes the terms of the div and is now giving equity in the spinout (so shareholders are not losing the value of the spinout) but again as restricted shareholder you are excluded. All you can do is watch as your stake decreases and you lose the value of NGIO...Or sell and accept the consequences.
In the case of CMT I can’t say I really blame them. Don’t get me wrong. There is still a part of me that wants them to pay but I don’t see how that would repair the sp or benefit us the shareholders. Maybe GNBT would get some type of settlement but we would not see any part of that.
At this point regarding CMT I’d accept an apology stating “We regret the effect our selling had on the sp but we had to think of our investors first”.
This hurdle all but cleared here is the timeline as I see it
2/17 record date
2/24 pay date
2/25 ex date
GNBT S1 priced and amended by 3/6
Possibly an S1 for NGIO same date or within a week 3/13
NGIO spin by 3/27
GNBT based on value add of NGIO and whatever PRs come out should be ready to uplist by 6/26. Hopefully sooner.
As always just my opinion.