Whatever MD Virologist thinks he knows about CYDY'

Whatever MD Virologist thinks he knows about CYDY's recent financing, the actual facts of the matter are almost certainly even more bizarre.

Specifically included in today's press release is the statement that today's noteholder security EXCLUDES IP!!!!!

I think this statement in the press release is probably some sort of again corrupted Cytodyn communication.

First, if the noteholder security does not include intellectual property, that means that the noteholder security does not include the ability to manufacture more leronlimab!!!!

Are we to believe that Pourhassan has now obtained $50 million in loans secured only by 1) existing inventories of leronlimab, 2) further Samsung delivery contracts, and 3) in-progress BLA efforts.

My first thought is that only an idiot would agree to a security that did not include the right to manufacture leronlimab.

But maybe the noteholder's security includes a license to manufacture leronlimab. But in that case today's press release would be borderline lying about "excluding IP".

Possibly the noteholder sees the existing inventory of leronlimab, additional Samsung delivery contracts, and ongoing BLA activities as so substantial as to not require any further security. But I doubt it.

Certainly Pourhassan's statement in today's press release that "$2 billion dollars" of leronlimab inventory is immediately available to treat covid patiets in the event of covid approval ws a factor in the noteholder's decision to lend.

But if leronlimab is not approved for covid, Cytodyn will probably need at least another $50 million in notes if not $150 million.

So the existing $50 million noteholders face severe dilution if LL is not approved for covid. Maybe the existing noteholders are somehow senior to anyone who makes the next loan.