Hi, Prometeus and Luis! I believe the (3) S1s w
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Posted On: 09/20/2020 11:19:39 AM
Hi, Prometeus and Luis!
I believe the (3) S1s we see for NGIO are a complete set. My understanding is that the preferred shares S1 was submitted with a general amount of shares so the registration fees can be calculated and paid. The final amount of the shares can actually be more, and Joe intends the value to be $100MM, with $61MM net to NGIO (less fees). (Prometeus, you used the term "loan", and there is no loan involved here, so I'm not sure how to address that part of your comment.)
So, if the SEC has already examined every nook and cranny of GNBT/NGIO for the 10k updates and GNBT S1s, hopefully Joe will be right about the comments on the S1s for NGIO being unlikely or simple. What else haven't they seen in this previous review?
We should have a response or comments back within 30 days, which puts us at 10/14. If no comments, we would have a chance at listing in those last couple weeks of October. If there are some comments, they should be minor (given the 12-month colonoscopy they gave for the 10k). So maybe we would be looking at the last couple weeks of November?
Either way, it seems to me that it is highly likely that NGIO will have the clearance to list in 2020. Of course, we have to assume there is market interest for the preferred shares to generate the $100MM to really get things moving.
That's my take, anyway!
I believe the (3) S1s we see for NGIO are a complete set. My understanding is that the preferred shares S1 was submitted with a general amount of shares so the registration fees can be calculated and paid. The final amount of the shares can actually be more, and Joe intends the value to be $100MM, with $61MM net to NGIO (less fees). (Prometeus, you used the term "loan", and there is no loan involved here, so I'm not sure how to address that part of your comment.)
So, if the SEC has already examined every nook and cranny of GNBT/NGIO for the 10k updates and GNBT S1s, hopefully Joe will be right about the comments on the S1s for NGIO being unlikely or simple. What else haven't they seen in this previous review?
We should have a response or comments back within 30 days, which puts us at 10/14. If no comments, we would have a chance at listing in those last couple weeks of October. If there are some comments, they should be minor (given the 12-month colonoscopy they gave for the 10k). So maybe we would be looking at the last couple weeks of November?
Either way, it seems to me that it is highly likely that NGIO will have the clearance to list in 2020. Of course, we have to assume there is market interest for the preferred shares to generate the $100MM to really get things moving.
That's my take, anyway!
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