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Biotech / Medical : NNVC - NanoViricides, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: old 'n cranky who wrote (12436)	11/19/2019 2:38:48 PM
From: HardToFind	1 Recommendation Recommended By Savant Respond to of 12873

Sounds like sour grapes, which is plenty justifiable, but please provide just a little more substance to that belief. Anil Diwan BAD. I get that. I'll admit, that's probably a pretty good description of my sentiments and actions over the last 1-2 years, which have been a slow-motion train wreck. I sort of don't want Diwan to get away with this crime. For a number of years I had high hopes for this company and my position in it. I spent a lot of effort to research and stay appraised of the company, it's issues and opportunities. I noted the things I didn't like, but allowed my enthusiasm for the things I did like to excuse the things I didn't. In the last year I've given up hope for any recovery. I cannot now muster my previous level of interest to dig into the details like I used to, so I spout off on things that I observed before (things that used to be true, but now may no longer be true). However, the experience has provided several good (albeit expensive) lessons for me: Separate the sexy narrative from the red flags. Shortcomings in either one are cause to sell. One area being good won't fully compensate for the other being bad. If management has one or more assholes, simply stay away. If management has a habit of obfuscation, simply stay away. If management has problems executing over a long period of time, get out. At the first sign of gross ethical misconduct by management, cut my losses and get out. Yes, stay away from ANY company that management has set up in a way that it can become its personal piggy bank. Be very concerned with companies for which management are only taking public one side of the business, and keeping the other side for themselves. When it's time to get out, don't wait too long, especially when solvency is an issue. Among the red flags I saw were: The existence of TheraCour as a separate entity with preferred payout over common shares Numerous cases of execution ineptitude Series A shares (advertised as having virtually no financial impact) Many carefully worded press releases that obfuscated the truth The Yidam lawsuit The exorbitant royalty rate of 15% Licensing preventing internal or third-party R&D Licensing preventing internal or third-party manufacturing Licensing indications rather than drugs (culminated by pursuing VZV when we had already licensed an indication that will use the same drug class) The licensing of numerous indications that have gone nowhere Numerous exaggerations as to milestone achievements Blaming outside parties for an inability to plan schedules for milestones The hiring of one's spouse to be CFO The colossal miscalculation with FluCide The tremendous difficulty getting a production process to work in a timely manner Licensing delays for VZV The firing of Seymour Issues with Boniuk The firing of Dr. Taraporewala Misinformation and deception about the terms of the royalty