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Biotech / Medical : NNVC - NanoViricides, Inc.
NNVC 1.205-2.8%Dec 23 3:59 PM EST
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To: old 'n cranky who wrote (12447)11/19/2019 7:15:01 PM
From: old 'n cranky  Read Replies (1) of 12873
 
The lab is presumably worth ~$5 Mn (to the right buyer)...like TheraCour?



Now that I'm back in the chair I had another thought. As you know, this was in the 10Q:
The Company's founder and President, Anil R. Diwan, PhD., has provided a commitment of up to $2 million as a secured non-convertible loan to help with taking our first drug program through IND filing as a bridge to additional financing.
That was in the Subsequent Events section, covering events between 9/30 and the date of the filing.

In a perversion of the old "Why buy the cow.....?" I'm wondering if the lab might be the security for that loan.

Reading more carefully I saw this in the body of the Report under Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations:
The Company believes that it will need to raise additional capital by way of equity, debt, debentures, or other methods, to support the upcoming clinical trials and operational expenses. The Company currently has a commitment from a related party for a bridge loan of up to $1 million until additional financing is obtained or for a term of up to one year. In addition, the Company is in discussions regarding freeing up its fixed capital for use as working capital by obtaining a mortgage secured by our cGMP manufacturing and R&D lab facility in Shelton, CT. The Company is also pursuing additional equity-based transactions.

Get lots of popcorn.
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