Sam, Good question Sir...It seems to me that B

Sam,

Good question Sir...It seems to me that BARDA with the influence of Operation WARP speed they may have chased a shiny object with the RNA/DNA opportunities and now they are married to the collective success or failure of that approach. It may go down in history as a moment of short-term failure for BARDA, but the current administration is also married to this approach. This makes it more challenging to gain the attention of BARDA perhaps until post-election if there is an administration change, or if the current admin wishes to speed up the process post election in an attempt to keep his promises...I am actually surprised that Trump has not latched onto GNBT/NGIO right now.

Many like the approach into the more vulnerable populations as there may be a pot-full of BARDA-earmarked dollars as well as earmarked dollars to ensure the development of for these populations in other countries, for example Canada, UK, EU Singapore and South Africa.

Aside from this niche approach, NGIO is tasked to prove the model and concept in more credible countries, where it is more challenging to execute on a larger scale (which it is doing) and then offer a better vaccine that works. NGIO will be able to say, we have executed in country/ies X who has/have a larger populace than the USA, and so delivering 350MM doses in the USA is reasonable, although it will cost $$/Dose Vs $.

Overall, NGIO does not need BARDA support to become a $1BB+ company. Malaysia is just the first country, and there are many more on the heels. Upon execution of the model, NGIO will not need excitement as it will have revenues to support the valuation. NGIO now has the funds to execute, so I would think that as investors we would give them the chance to execute.

It is a very good strategy to gain these partnerships, prove the model outside of the USA where the populations are larger and develop a safety profile that is tolerated by the most vulnerable, then come back in after the others have failed to provide a product at that time to the American people.

Our insurance companies in the US will pay much more for the Ii-key vaccine after the other vaccines have failed phase III. Safety, and a durable T-Cell response will be the keys to success with COVID. NGIO has this. They will gain the right attention from these partnerships and calmly gain favor by utilizing this methodical process.

As you continue to point out, the peptide testing will provide additional key insights into the expected effectiveness of the future NGIO Vaccine, but even if there is an undesirable mild-response, the adaptability of the Ii-key booster is still important as it can more easily be deployed to provide adjustments to the formula and it is delivered through a familiar adjuvant which I understand may be the key to established human tolerability.

I think this is what provides the management and scientific team the security to sleep well and the increase in confidence that we are seeing. Moreover, the 10-year data in a similar vaccine shows promise. NGIO management has every right to be confident as they have not engaged in over-hyping their product and have followed a very methodical process in creating this vaccine to date. I believe they are committed to a creating and sustaining a New-Generex, let's celebrate the Win today and look ahead at many more to come!