Good eye...the magic number changed and the likelihood that it will be achieved next time around did, too.
Without taking anything else that may have happened in this quarter into consideration:
(see siliconinvestor.com
The total POTENTIAL votes were 3,844,921 + (255,714 x 9) or 6,146,347 votes at the time of the recent vote, hence the magic number was 3,073,174. There were 2,848,889 FOR votes.
We just learned these things:
1. At execution of this Note, Borrower shall issue 10,000 fully paid and non-assessable NanoViricides Series “A” Preferred shares to Lender as a mortgage origination fee
2. TheraCour has proposed and the Company has agreed that TheraCour exchange a portion of the Accrued Expenses in the amount of $250,000 (the “Reduction Amount”) for 100,000 shares of the Company’s Series A Convertible Preferred Stock, par value $0.001 per share (“Series A Preferred Stock”) (the “Exchange Shares”).
That adds 990,000 votes to the total and almost certainly all would go to the For column if a new election was held today.
7,136,347 would be the new total, so 3,568,174 would be the new magic number.
And the FOR vote would be 3,838,889 if the shares that went into the hands of TheraCour and Diwan personally were voted FOR.
Ain't that a kick in the pants. What Diwan couldn't get done last time he can get done now. And pretty much anything else, too.
(I did that too fast so please doublecheck it.)
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