Last night, as April came to a close, pink sheet Coronacrap stock, Cytodyn (CYDY), a favorite of retail investors both in the USA and Germany (Freut mich), released an amended S3 filing with the SEC. (Catch up on Who’s Touting Cytodyn Now and Who’s Suing Cytodyn Now too)
This filing will allow for millions of shares to be dumped on the market. How many millions?
How about 46.4mm shares!
As this is an amendment to a previous registration statement, we can take a look at the old S3, from January 2020, and compare the amounts.
Between January 31 and April 30, the company has increased the amount of stock to be sold by 40.3 30.3mm shares.
And just who are the lucky sellers?
From the January document:
And now the updated list:
One name should immediately stand out to long time readers and fans of biodreck stock promotion scandals. Michael McCarthy. Remember him from the Dream Team Group? In a series of article by Adam Feuerstein at TheStreet.com (now at Stat News) and Richard Pearson (MoxReports), these undisclosed-pay-for-puff-piece article stock promotion schemes were exposed. And the SEC took action concerning these fake posts.
Currently, Cytodyn is the subject of relentless stock promotion, today 1 May, the company is doing a livestream entitled “Wall Street Reporter’s Next Super Stock“.
Being the Next Super Stock isn’t easy. It costs money. How much?
Clients pay $9,500 for 3 month marketing distribution program, which includes featured visibility in SPOTLIGHT, LEADERS, FEATURED STOCKS, NEWSMAKERS, and weekly highlight in e-mail newsletter. Current 3 month clients: BOSQF, CYDY, MDCL, NGTF. Next SuperStock Conference Presenters/ 3 month Premium Visibility distribution: NEXCF $18,500, HOTH $18,500, NGTF $18,500, CYDY $18,500.
Looks like CYDY coughed up $29k for super stock status. And to whom are they paying exactly. Who is behind Wall Street Reporter? A gentleman named Jack Marks.
But he is really Jacob Mestechkin, who has a long history of stock promotion!
And you may also have seen a series of videos hyping Cytodyn and its likely completely ineffective (see NEJM letter here), woefully old, CCR5 entry inhibitor, leronlimab. One was just posted yesterday, 30 April.
The videos (link here if you can stand to watch it without getting sick to your stomach) are slickly produced by an outfit called Proactive Investors. Richard Pearson, one of the writers who exposed filthy stock promotion outfit, Dream Team Group, also exposed Proactive’s shady undisclosed paid promotion tactics. Read that expose here.
Plenty more names on that list of selling stockholders to explore….until then.
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like another 40 million shares matter when there are 700 million out
just a waste of time complaining about
[Not just how many, but from whom – Editor]
No One Cares you are wasting your time and unfortunately you wasted mine in reading your dribble
if the drug works the stock will go up
if the drug does not work the stock will go down
no one cares about anything else
this article is very childish
[Erik, you really should have read the NEJM letter linked to in the post. Read it carefully. That would be a good use of time. And for someone complaining about time wasting, you’ve already commented twice today. – Editor]
Dont forget those frauds and scam artists at Vyera involved here. Probably blasted out of their stock already.
Mirrian — Vyera bought 4 million shares at about $.30 pricing, so they could have made easily a buck a share (or more) and made enough to pay the $4.5 million License fee they had to pay upfront. They need the money for legal fees to fight DOJ, FTC and numerous states Attorney Generals. Hard to se how they can afford this — declining revenues, losing money (court papers) and CYDY took their time filing for approval for Leronlimab’s HIV indication — likely not launching until 2021.
Hey Hackstein, I see you’re still at it. Remember years ago when you published that an earthquake in San Fran had closed the Geron offices and would put them out of business?
Once a hack, always a hack.
Great way to spin a company complying with SEC requirements.
This S3 filing does not indicate any new issuance of securities by CYDY. It relates to prior offerings which have already been disclosed.
To make a long story short, all securities offerings must be either registered or exempt. Only registered securities are publicly tradable. CYDY has raised money in the past year through both methods.
Anytime a company raises money through exempt offerings, whether the company is public or not, as part of the offering the buyer’s counsel will negotiate a requirement for the company (CYDY in this case) to register the securities that were issued under an exemption so that the buyer will eventually have liquidity to sell their securities in the public market.
This S3 is CYDY undoubtedly complying with the requirements to register securities that were issued in prior offerings.
Thanks for helping this company bring a life saving drug to market. You seem like a positive person! It would be nice to see your research on the company besides trying find little “non-issues” to drive a wedge. Rather self serving and easily noted. Chase your penny flipping for a few more days or weeks, but those days with CYDY are numbered
The NEJM article cited actually showed Leronlimab significantly reduced the overall IL6 levels in patients within 3 days. These patients were obviously quite ill with only the 5th being given Lero while at a relatively low level. That person came off the ventilator. Bear in mind that IL6 in a healthy person is typically single digits or low double digits.My bigger concern is accurate interpretation of the S3 filing. I simply want to know if the S3 does in fact show that Dr Patterson and CEO Pourhassan are selling shares at this time. If so the timing would be terrible. Thank you. JB
[NEJM quibbles aside (the reduction in IL6 was meaningless with regards to patient outcome), suggest you read this and this. – Editor]
S-3A is a Tender Offer of “selling shareholders” who have requested to convert preferreds, warrants and options to saleable common shares. The CEO has requested authorization to sell 2,000,000 shares that he intends to acquire through converting stock options. Dr. Patterson has requested authorization to sell 400,000 common shares that were also stock options he would be require to convert. It is true this S-3 was filed the night after the CEO and Dr. Patterson held and investor conference call touting Leronlimab’s CoV IND patient data (not the clinical trial). They also did a second call on May 1st that originally was to cover a “major journal publication” release that day. The press release got changed to be covering a manuscript that was submitted. We’ll see how it proceeds.
[Actually an S-3/A is an AMENDMENT to an existing S-3 REGISTRATION STATEMENT. Not a “Tender Offer” of any kind. Seems like you have a lot to learn, suggest you start with the BuyersStrike! Bookshelf, and the Maxims. Will help keep you from getting conned in crap stocks. – Editor]
Another fine Cytodyn money making opportunity for management — Drop the limits of how many options that managment can award itself (since they have been sued twice on that issue). They also allowed themselves to award management as many Restricted shares are they like:
“deletes the annual limitation on the number of shares subject to options that may be granted under the Plan and the aggregate limitation of grants of restricted stock awards and restricted stock unit awards under the Plan.” SEC Form 8-K filed June 19th.
Always a pleasure seeing what a Jag off you enjoy being