Here are a few thoughts I'm keeping as I look thru
Post# of 36533
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Posted On: 06/22/2020 7:40:41 PM
Here are a few thoughts I'm keeping as I look thru the Q:
1) I agree w Pokey... assets up a little, liabilities up a LOT.
2) G&A expenses came down a lot YoY, as Joe said they would.
3) Revenues are still negligible.
4) Assets under management are up to $2.5MM (after taking out Intangibles and GW), so that is still not up to snuff for the $2 listing... as well as Going Concern. So I still think we are looking at a higher SP than $2 for a GNBT uplist. Either NGIO/CV-related items drive us to that, or we don't make it. I think the $2 listing will be stale before organic growth thru Excellagen or other items can get us there.
5) There are (2) attachments w $50k and $100k in Promissory Notes to a Michael Coridi to cover the Epivax payments. Unstated interest rates, 30k restricted shares, and 20k undefined stock options in the terms.
6) The company is hugely negative on cash flow, from an operating perspective (even though it is a relatively small amount if they can get ANY sort of sales effort working), and the types and amount of debt are worrisome. Not to mention all the stock we are on the hook for to complete all of the acquisitions.
This company is truly being held together by Scotch tape, chewing gum, paper clips, and rubber bands as we try to limp into the station. If we don't get some sort of productive movement on S-1 funding, CV funding, revenues, etc. within months, there is going to be a reckoning that won't end well.
7) The Iliad lawsuit is still mentioned, prohibiting sales or issuance of stock. That is a serious problem.
Haven't made it thru the Notes, etc... gotta go get some dinner. Looking forward to others' thoughts/revelations...
1) I agree w Pokey... assets up a little, liabilities up a LOT.
2) G&A expenses came down a lot YoY, as Joe said they would.
3) Revenues are still negligible.
4) Assets under management are up to $2.5MM (after taking out Intangibles and GW), so that is still not up to snuff for the $2 listing... as well as Going Concern. So I still think we are looking at a higher SP than $2 for a GNBT uplist. Either NGIO/CV-related items drive us to that, or we don't make it. I think the $2 listing will be stale before organic growth thru Excellagen or other items can get us there.
5) There are (2) attachments w $50k and $100k in Promissory Notes to a Michael Coridi to cover the Epivax payments. Unstated interest rates, 30k restricted shares, and 20k undefined stock options in the terms.
6) The company is hugely negative on cash flow, from an operating perspective (even though it is a relatively small amount if they can get ANY sort of sales effort working), and the types and amount of debt are worrisome. Not to mention all the stock we are on the hook for to complete all of the acquisitions.
This company is truly being held together by Scotch tape, chewing gum, paper clips, and rubber bands as we try to limp into the station. If we don't get some sort of productive movement on S-1 funding, CV funding, revenues, etc. within months, there is going to be a reckoning that won't end well.
7) The Iliad lawsuit is still mentioned, prohibiting sales or issuance of stock. That is a serious problem.
Haven't made it thru the Notes, etc... gotta go get some dinner. Looking forward to others' thoughts/revelations...
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