WOW $1,500,000 for 98% (or more) of the Generex a
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Posted On: 10/15/2022 4:09:38 PM
WOW $1,500,000 for 98% (or more) of the Generex assets. I would not be surprised if the creditors coin a few never-before-heard expletives to hurl at the Chapter 7 Trustee Marc Barmat. That will give the creditors a “massive” $.023 on the dollar of claim ($1,500,000 / $66,078,327). And if we include the ridiculous Bedford and Beijing claims, it will then be $.003 on the dollar of claim ($1,500,000 / $400,450,000). And that is if the lawyers just don’t suck it all up with legal fees. Wouldn’t be surprised if the legal fees were more than 1.5 mil and the creditors got personally billed for the excess amount.
So, it doesn’t look like there will be any money (or desire) to officially “wind down” Generex, by pulling the GNBT shares off the stock market, etc. That means that “ghost” worthless GNBT stock will haunt the OTC and our stock portfolio “till the end of days”.
As for NuGenerex
The current bid is at $.023 pps ($1,500,000 / 64,153,151 shares). When we factor in the additional outstanding shares that brings the pps to $.015 ($1,500,000 / 100,300,000 shares). But since the 1.5 mil includes buying Olaregen, those numbers will be less for NuGenerex.
Even though NuGenerex had SEC filings https://www.sec.gov/cgi-bin/browse-edgar?acti...p;count=40 and traded under the unsanctioned NUGX ticker https://www.otcmarkets.com/stock/NUGX/quote it still could/is be considered a private (not public) held company. Not that that would matter, since the new owner(s) will have absolute control of NuGenerex. Remember that when NuGenerex bylaws were written, the bar was set so high that it would be impossible for anyone(s) to have enough share power to force the board to offer a company change for a stockholder vote. That is why Joe made the trade to give GNBT100,000 shares of Series A Super Voting Preferred Stock equal to 300,000,000 votes.
So, for the next leg of the journey, for those who will continue (NUGX holders), my question is; which kind of owner will Bio & Med Tech of the Future SPV2, LP (or another, if Bio is out bid) will be?
Will they be honorable by:
By updating the minority shareholders (36,148,120) on what is happening with NuGenerex.
Informing the minority shareholders what NuGenerex future plans will be.
Giving the minority shareholders NuGenerex financial data.
Holding shareholder meetings and allow minority shareholder participation.
Finding a way to make their minority shares (currently NUGX) liquid/sellable.
OR
Will they be “slime bucket” “sleaze bags” by:
Doing none of the above and keeping the minority shareholders in complete darkness.
Find a way (legal or otherwise) to eliminate minority shareholders stock, making it worthless, thus claiming and giving 100% ownership to themselves.
After the sale of NuGenerex takes place on December 27, 2022 (and it will take place), regardless who the new owner(s) will be, if we the minority shareholders are not in some manner contacted early in 2023, before March should be enough time, by the new owner(s), then the odds on favorite is that the new owner(s) have decided to take the second “slime bucket” “sleaze bags” option as to how they will treat the minority shareholders. The only recourse I can think of is to buy a large jar of Vaseline because we know what is coming next.
Apologies if I have offended anyone.
So, it doesn’t look like there will be any money (or desire) to officially “wind down” Generex, by pulling the GNBT shares off the stock market, etc. That means that “ghost” worthless GNBT stock will haunt the OTC and our stock portfolio “till the end of days”.
As for NuGenerex
The current bid is at $.023 pps ($1,500,000 / 64,153,151 shares). When we factor in the additional outstanding shares that brings the pps to $.015 ($1,500,000 / 100,300,000 shares). But since the 1.5 mil includes buying Olaregen, those numbers will be less for NuGenerex.
Even though NuGenerex had SEC filings https://www.sec.gov/cgi-bin/browse-edgar?acti...p;count=40 and traded under the unsanctioned NUGX ticker https://www.otcmarkets.com/stock/NUGX/quote it still could/is be considered a private (not public) held company. Not that that would matter, since the new owner(s) will have absolute control of NuGenerex. Remember that when NuGenerex bylaws were written, the bar was set so high that it would be impossible for anyone(s) to have enough share power to force the board to offer a company change for a stockholder vote. That is why Joe made the trade to give GNBT100,000 shares of Series A Super Voting Preferred Stock equal to 300,000,000 votes.
So, for the next leg of the journey, for those who will continue (NUGX holders), my question is; which kind of owner will Bio & Med Tech of the Future SPV2, LP (or another, if Bio is out bid) will be?
Will they be honorable by:
By updating the minority shareholders (36,148,120) on what is happening with NuGenerex.
Informing the minority shareholders what NuGenerex future plans will be.
Giving the minority shareholders NuGenerex financial data.
Holding shareholder meetings and allow minority shareholder participation.
Finding a way to make their minority shares (currently NUGX) liquid/sellable.
OR
Will they be “slime bucket” “sleaze bags” by:
Doing none of the above and keeping the minority shareholders in complete darkness.
Find a way (legal or otherwise) to eliminate minority shareholders stock, making it worthless, thus claiming and giving 100% ownership to themselves.
After the sale of NuGenerex takes place on December 27, 2022 (and it will take place), regardless who the new owner(s) will be, if we the minority shareholders are not in some manner contacted early in 2023, before March should be enough time, by the new owner(s), then the odds on favorite is that the new owner(s) have decided to take the second “slime bucket” “sleaze bags” option as to how they will treat the minority shareholders. The only recourse I can think of is to buy a large jar of Vaseline because we know what is coming next.
Apologies if I have offended anyone.
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