You are correct. They are even manufacturing the

You are correct. They are even manufacturing the vaccine.

But the world doesn’t care once you say your tech isn’t tested yet.

Wait to tell me every intricate detail of what you’ve got until you KNOW what you’ve got.

I don’t want to go to a Time Machine presentation I’ve been anticipating for a month, see a whirring machine on the stage, sit thru a technical explanation of how it “works”, then have the lights come up and they tell me to come back in 7-10 days because they are still waiting for the test run to come back from 2022.

Again, the science is great... that’s why we’re all here and have bought shares and shares and shares of this company. The deep technical information was simply 7-10 days early.

And the other topics were almost not covered at all. Many of those were GNBT topics, which weren’t covered on the NGIO call in October... and then the GNBT call that was supposed to follow was subsequently cancelled.

- NuGen Health, supposed to be generating/receiving revs by ~Thanksgiving, per Sanjay on the August call. Dead in the water, slowly ramping, or massive success? Crickets isn’t usually a good sign.
- Excellagen, VA ramping back up to roll this out by summer? Any revs at all? Last we heard was Tony D telling us the VA was going to 25% capacity in August. I assume that didn’t happen, but would be nice to know.
- Any other countries we’re still working on vaccine deals with (S Africa, Singapore, Canada...)?
- Pre-IND “solved some of the issues w the application” to BARDA as of the last call... any update? Still shooting for BARDA $?
- NGIO target acquisition was mentioned previously. Can you speak to that?
- Can you tell us ANYTHING about the IPO? No. When do expect you MIGHT be able to tell us anything about the IPO? Can you tell us when the Road Show will be? No. If the Road Show participants can know, can’t we shareholders?
- Also on the August call, an LOI had been signed w a Texas-based Diagnostics Co. Jason Terrell, I believe, gave quite a decent amount of info on this in August (Aima Bio maybe?). Deal gone? Progress?
- Joe mentioned China being interested in Regentys. Does that mean the clinical testing is trying to get queued up again?
- Last GNBT share count read is 12/21 @ just under 110MM. Has that increased or remained stable? Any reason you can see it going up, other than issuing shares for employees ($6MM)?
- When will you issue the shares for the $6MM employee payments? Able to wait for some price appreciation so fewer shares will be issued or will you need to do it at a certain point without that?
- What’s the status/expectation/need for the peer review you were waiting for? Will that potentially hold anything up?
- What does the real testing timeline look like, if we assume the mouse data comes in as hoped within 2 weeks?
- I think you said on this call that the vaccine testing would now occur in China w FDA guidance. You said previously that the testing would happen in the US to guarantee that the FDA would accept the results. What changed? Is there a risk here?
- Any activity on swine flu or influenza with the Chinese (90% sure this wasn’t mentioned)?

I expected some of these topics would be covered on the call, and we could ask about the others. But unless I missed it... these topics were all left out of our long-awaited update.

As I said before, I could sense Joe was surprised by the lack of Qs. And I think he was fully expecting many of these Qs, counting on the Q&A to bring them up.

Sadly, the technical issues prevented that. But I still believe someone on the Team should have been able to deduce the problem, given that our Q&A sessions usually go an hour or two. And that doesn’t take away from the disappointment of our information window closing so quickly and abruptly.