Hi everyone,
I just read through most of the S1 from yesterday, and here is my take on it. And I have to admit that some of the lawyer's terms showed me the limits of my - in general - very good English.
It does sound/look awful, but it is not really clear to me whether all these warrants are already a fact now, or if this would only be some sort of a last resort, that they can issue these additional warrants if needed.
What additionally concerns me are those "upon certain conditions..." statements. As long as they are related to GNBT/NGIO's plans to uplist to/IPO on a national exchange, this
1) so far has never worked out for GNBT as planned or in the time that they set for themselves, and
2) will now give crooks, with a track record of pps manipulation and 5m shares in hand, yet another good reason why they should do everything in their power to keep the pps low, GNBT from being able to meet the minimum pps requirements for Nasdaq, and it might forever be doomed to remain an OTC company with a pps remaining in the current range, just so that they (crooks) end up with even more shares in hand for themselves and gold plate their already now ridiculously great deal.
What speaks against all that is the statement from Todd during our call last week, who stated something along the lines of this being another line of credit type agreement. So they needed the $2m and definitely sold those 5m shares, but everything else is still up to GNBT to decide whether to give out those warrants or not. I admit that it does not at all sound like that, but I am sure that he said something like that, but referred me to Joe if I wanted to know this in more detail either during the cc or before if I would want to call him.
In conclusion, I am 100% positive that GNBT should release a PR and explain this clearly, in plain English and for everyone to fully understand what is really fact such that these terrible discussions and speculations find an end and we know what is going on FOR FACT.
@MMPJOE if you are reading this, please tell us publicly that your have not given away more than half the company (~150m added to the currently ~90m shares) for lousy proceeds of $15m or on average $0.1/share!? While constantly telling us that GNBT is supposed to be worth billions of dollars!?
(and yes I am a GNBT shareholder since 2005, and currently still own a six figure number of shares!! And during 2 conference calls earlier this year, I explicitly asked you, how you would want to avoid giving away half the company at these low pps. And you told me that something like this will never happen (very briefly summarized) )
Thanks and best regards
Zolis_onkel
I just read through most of the S1 from yesterday, and here is my take on it. And I have to admit that some of the lawyer's terms showed me the limits of my - in general - very good English.
It does sound/look awful, but it is not really clear to me whether all these warrants are already a fact now, or if this would only be some sort of a last resort, that they can issue these additional warrants if needed.
What additionally concerns me are those "upon certain conditions..." statements. As long as they are related to GNBT/NGIO's plans to uplist to/IPO on a national exchange, this
1) so far has never worked out for GNBT as planned or in the time that they set for themselves, and
2) will now give crooks, with a track record of pps manipulation and 5m shares in hand, yet another good reason why they should do everything in their power to keep the pps low, GNBT from being able to meet the minimum pps requirements for Nasdaq, and it might forever be doomed to remain an OTC company with a pps remaining in the current range, just so that they (crooks) end up with even more shares in hand for themselves and gold plate their already now ridiculously great deal.
What speaks against all that is the statement from Todd during our call last week, who stated something along the lines of this being another line of credit type agreement. So they needed the $2m and definitely sold those 5m shares, but everything else is still up to GNBT to decide whether to give out those warrants or not. I admit that it does not at all sound like that, but I am sure that he said something like that, but referred me to Joe if I wanted to know this in more detail either during the cc or before if I would want to call him.
In conclusion, I am 100% positive that GNBT should release a PR and explain this clearly, in plain English and for everyone to fully understand what is really fact such that these terrible discussions and speculations find an end and we know what is going on FOR FACT.
@MMPJOE if you are reading this, please tell us publicly that your have not given away more than half the company (~150m added to the currently ~90m shares) for lousy proceeds of $15m or on average $0.1/share!? While constantly telling us that GNBT is supposed to be worth billions of dollars!?
(and yes I am a GNBT shareholder since 2005, and currently still own a six figure number of shares!! And during 2 conference calls earlier this year, I explicitly asked you, how you would want to avoid giving away half the company at these low pps. And you told me that something like this will never happen (very briefly summarized) )
Thanks and best regards
Zolis_onkel
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