Post a clear PR regarding Pourhassan's sale of sto
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Posted On: 05/04/2020 1:36:38 PM
Post a clear PR regarding Pourhassan's sale of stock.
Pourhassan’s muddled explanation regarding his sale of stock in today's Pro Active interview created more questions than answers, which, I believe, is why it had no positive effect upon the share price.
If Pourhassan sold his stock solely to pay for the exercise of options or warrants so the company would have enough money to pay Samsung to manufacture leronlimab, he should have said so.
Damage control is now needed in the form of a press release that should say something such as the following:
“The company wishes to clarify the reasons for the sale of Cytodyn stock by Dr. Nader Pourhassan on April___, 2020.
Although Dr. Pourhassan sold ___shares of Cytodyn stock at that time, 100% of the sale proceeds, in the amount of $_____, were used to pay for the exercise of Dr. Pourhassan’s options/warrants.
The proceeds paid to the company by Dr. Pourhassan, from the exercise of his options/warrants, will be used to pay Samsung Biologics to produce 1.2 million vials of leronlimab.
Without Dr. Pourhassan’s sale of stock and exercise of options/warrants, the company would not have been able to pay Samsung to manufacture leronlimab without a dilutive capital raise.”
My opinion, for what its worth.
LM
Pourhassan’s muddled explanation regarding his sale of stock in today's Pro Active interview created more questions than answers, which, I believe, is why it had no positive effect upon the share price.
If Pourhassan sold his stock solely to pay for the exercise of options or warrants so the company would have enough money to pay Samsung to manufacture leronlimab, he should have said so.
Damage control is now needed in the form of a press release that should say something such as the following:
“The company wishes to clarify the reasons for the sale of Cytodyn stock by Dr. Nader Pourhassan on April___, 2020.
Although Dr. Pourhassan sold ___shares of Cytodyn stock at that time, 100% of the sale proceeds, in the amount of $_____, were used to pay for the exercise of Dr. Pourhassan’s options/warrants.
The proceeds paid to the company by Dr. Pourhassan, from the exercise of his options/warrants, will be used to pay Samsung Biologics to produce 1.2 million vials of leronlimab.
Without Dr. Pourhassan’s sale of stock and exercise of options/warrants, the company would not have been able to pay Samsung to manufacture leronlimab without a dilutive capital raise.”
My opinion, for what its worth.
LM
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