I agree, this is not right, and, as Joe stated explicitly to me in his reply email, he is very unhappy about the current situation himself.
I can only remind you again, that it is him, who dedicated currently 5 years of his life to GNBT and all his efforts got him where he is right now. And there is no doubt in my mind that he personally has made mistakes, and it might as well be that the "serious issues" that he is confronted with are even related to these mistakes. But I am also sure that there are things that happened in the best interest of us shareholders and got mistreated.
Just to name one that immediately comes to my mind is the retirement of ~ 20 Million GNBT shares and the OTC just swallowed the effect that this was supposed to have on the PPS. While at the same time, treated the issuance of the dividend shares as a stock split. While in the first place the reduction of the number of OS should have caused an automatic adjustment of the PPS by the OTC, they have done it - in my view - wrongly when the dividend was given to us, because in fact it was NOT a stock split, but the issuance of additional shares given to us shareholders.
Same way, it was beyond Joe's power that the SEC decided to do a deep dive into the 2019 10-K, which took them a total of 10 months to complete, which also limited him in his ways to make progress on several fronts, because the SEC didn't approve the S1s while they were reviewing the 10-K. This way he was not able to move forward with the NGIO IPO or to raise additional money for GNBT and other initiatives such as the roll-out of Excellagen.
Also it was surely not his fault that some crooks initiated trading of the NGIO dividend shares under the NUGX stock symbol. This is surely fraudulent, and I still strongly believe that at least part of the "serious issues" they are currently dealing with, is related to those NUGX shananigans.
so Joe surely has his short-comings, and I am not denying it, but there are also some things at play (hey, we are at the OTC here, as I read here several times, recently) that are out of Joe's reach and nobody can blame him for, but still happened and have surely not made his life easier. Just think about - if BARDA would have handled the distribution of available funding that would have made logical sense - how this one little twist in this entire story, and BARDA would have provided the requested 50 Million financial support for their vaccine development, and the PPS would be in a similar stratospheric orbit as that of NVAX is, GNBT would already be listed in Nasdaq and we all would be laughing all the way to our banks.
Why BARDA has not provided that relatively small amount of requested funds is absolutely beyond my way of logical thinking!!!
So you can continue with that Joe bashing as long as you like, but I have provided enough evidence to proof my case that it is not all just his fault, but there seem to be a lot of outside forces at play as well, that kept him from realizing his business plan.
I can only remind you again, that it is him, who dedicated currently 5 years of his life to GNBT and all his efforts got him where he is right now. And there is no doubt in my mind that he personally has made mistakes, and it might as well be that the "serious issues" that he is confronted with are even related to these mistakes. But I am also sure that there are things that happened in the best interest of us shareholders and got mistreated.
Just to name one that immediately comes to my mind is the retirement of ~ 20 Million GNBT shares and the OTC just swallowed the effect that this was supposed to have on the PPS. While at the same time, treated the issuance of the dividend shares as a stock split. While in the first place the reduction of the number of OS should have caused an automatic adjustment of the PPS by the OTC, they have done it - in my view - wrongly when the dividend was given to us, because in fact it was NOT a stock split, but the issuance of additional shares given to us shareholders.
Same way, it was beyond Joe's power that the SEC decided to do a deep dive into the 2019 10-K, which took them a total of 10 months to complete, which also limited him in his ways to make progress on several fronts, because the SEC didn't approve the S1s while they were reviewing the 10-K. This way he was not able to move forward with the NGIO IPO or to raise additional money for GNBT and other initiatives such as the roll-out of Excellagen.
Also it was surely not his fault that some crooks initiated trading of the NGIO dividend shares under the NUGX stock symbol. This is surely fraudulent, and I still strongly believe that at least part of the "serious issues" they are currently dealing with, is related to those NUGX shananigans.
so Joe surely has his short-comings, and I am not denying it, but there are also some things at play (hey, we are at the OTC here, as I read here several times, recently) that are out of Joe's reach and nobody can blame him for, but still happened and have surely not made his life easier. Just think about - if BARDA would have handled the distribution of available funding that would have made logical sense - how this one little twist in this entire story, and BARDA would have provided the requested 50 Million financial support for their vaccine development, and the PPS would be in a similar stratospheric orbit as that of NVAX is, GNBT would already be listed in Nasdaq and we all would be laughing all the way to our banks.
Why BARDA has not provided that relatively small amount of requested funds is absolutely beyond my way of logical thinking!!!
So you can continue with that Joe bashing as long as you like, but I have provided enough evidence to proof my case that it is not all just his fault, but there seem to be a lot of outside forces at play as well, that kept him from realizing his business plan.
4
1
