From what I read, it has been assumed that the GNB

From what I read, it has been assumed that the GNBT must sell their stock for the NGIO IPO. That is not true. GNBT traded their 300 million NGIO common shares for 100,000 voting only special shares (300 million votes). The 300 million common shares went back into the NGIO treasury. When the IPO happens, NGIO can use the treasury shares for the offer. Doing this has a distinct advantage. The purpose of the NGIO IPO is to raise capital for NGIO, not GNBT. Remember, GNBT is just a holding company, it does nothing but make money from the companies it holds.

With NGIO selling treasury shares for the IPO, the revenue will go directly to NGIO, where it is needed. Yes, there will be some additional float (dilution), but with the valuation set presently at $500 million, that shouldn’t affect the IPO price point. And factor in all the other things in the NGIO fold and Covid vaccine/therapeutics…

If GNBT sells its NGIO stock for the IPO, they will just have to give the proceeds to NGIO for their working capital. More importantly, this would reduce the number of NGIO shares they could sell in the future (at a much higher pps) to raise capital for all the other subsidiaries (companies) they, GNBT, hold.

I believe Joe made a brilliant move exchanging the 300 million NGIO shares for the 100,000 voting shares. This will insure that NGIO cannot be the target of a hostile takeover. We, on this board, are well aware of the NGIO potential, even going past any Covid vaccine/therapeutic success. And so does Big Pharma. The last thing I want to see (and I’ve seen it before) is to have Big Pharma come swooping in while NGIO is in its early year(s), (with a low pps), pull a hostile takeover and buy NGIO for chump change. Well done Joe!