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CytoDyn chief executive Nader Pourhassan’s lucrative sale of company stock was confirmed in a regulatory filing Monday night. His explanation for profiting from the coronavirus epidemic — while urging outside investors to buy — remains a shifting and troubling narrative.

As previously reported, Pourhassan sold more than 4.82 million shares of Cytodyn stock on Thursday. What’s new is the disclosure that Pourhassan acquired the shares by exercising stock options and then selling the resulting CytoDyn stock. His take: $11.96 million.

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  • Stay the course, Adam. The hate will pile on. What investors didn’t pick up is that by doing that cashless warrant exercise, the Company triggered the anti-dilutive clause on the blatantly false press release issued ” Completes Non-dilutive $15 Million Convertible Note Financing with Conversion Rate at $4.50 Per Share without Warrants the $15 Million dollar 20% plus OID loan for $17 million that On March 31st found on the endless press release page . One only has to take the time to read the actual SEC filing to find out the lies but that would require some effort as it’s buried in the endless company filings
    In this blatantly egregious and misleading press release Cytodyn states that it received $15 million in a two year 10% loan. What they neglect to mention is that they owe $17 million as this was OID loan and the worse part is that it has an antidilutive clause “8.1 Subsequent Equity sales”-that upon the issuance of any new stock or exercise of warrants, upon the occurrence of any Dilutive Issuance, on the date of such Dilutive Issuance the Conversion Price shall be lowered to equal the applicable effective price per share.
    In this case since they exercised warrants as low as $.39 per share, that $17 million can now convert not at $4.50 but instead at $.39. Let’s see if you do the math $17million/.39 =43,589,743 more shares that can be unloaded to the public.
    Oh, one more thing, the purported paper to be sent to the prestigious medical journal for peer review, under the section conflicts of interest- I think every medical advisor the company sites is either a paid consultant or has likely been issued a vast array of stock or warrants. But what’s another hundred million of shares when they already have 400 million plus outstanding.
    I think the medical professionals associated with this company ought to have some scrutiny too.

  • Why is Adam devoting so much time to CytoDyn? Why doesn’t he disclose who’s paying him or his vested interest? Two days and two slam pieces on CYDY yet no effort to reach out and get Nader’s story directly. Why would Adam spend so much time on such a small company if he weren’t being influenced or paid by an entity other than StatNews? Very fishy and Adam’s credibility should be questioned before believing this drivel.

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