Sam, Joe was under the impression that all comment
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Posted On: 07/14/2020 11:59:02 AM
Sam, Joe was under the impression that all comment letters were confidential and would not be published. Otherwise, it could give out trade secrets. In fact, CYDY CEO said the same thing on yesterday's conf call. He was ask if he would make the FDA comment letter public, and he said no, that is not done in the industry.
What happened with Joe is between him and the SEC. If may be, when you read the letters, that if you are not done with your comments within 60 days, you should withdraw and resubmit. Maybe if you don't, the SEC publishes the comment letters automatically. Not sure if that is the case, and if Joe and the executives maybe thought it would be a negative impact on the share price if they withdrew their Form 10 submission. That makes sense, but I don't know if that was the thought. So Joe did not know they released the letters. Obviously he did not read the submissions that docj made to him ahead of time about the letter showing up on Edgar. That is definitely Joe's fault for not reading the emails from his NEW FAVORITE IH member. Also, Joe admitted to me he had not looked at NGIO Edgar page since the initial Form 10 submission since I believed nothing but the 10Qs would be there.
What happened with Joe is between him and the SEC. If may be, when you read the letters, that if you are not done with your comments within 60 days, you should withdraw and resubmit. Maybe if you don't, the SEC publishes the comment letters automatically. Not sure if that is the case, and if Joe and the executives maybe thought it would be a negative impact on the share price if they withdrew their Form 10 submission. That makes sense, but I don't know if that was the thought. So Joe did not know they released the letters. Obviously he did not read the submissions that docj made to him ahead of time about the letter showing up on Edgar. That is definitely Joe's fault for not reading the emails from his NEW FAVORITE IH member. Also, Joe admitted to me he had not looked at NGIO Edgar page since the initial Form 10 submission since I believed nothing but the 10Qs would be there.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.