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

To: Straynut who wrote (12473)	12/3/2019 12:39:52 PM
From: HardToFind	Read Replies (1) \| Respond to of 12873

The terms of the loan were accepted by the independent members of the Company's Board of Directors, with Dr. Diwan recused from any discussions. Recused from any discussions, except that he (no doubt) set the terms of the loan. Actually, I don't have so much of a problem with the terms of the loan, per se. I do have a problem with the terms of the licensing agreements, and the chicanery that has led us to this point. This company will NEVER make money for its common shareholders (in aggregate). I don't know that Diwan intended it that way, but he has certainly made it a priority to take care of himself, at great expense to the common shareholders. Since it has become obvious that the company is never going to make money for the common shareholders, and that he was the driver of the bus over the cliff (good thing for him that he had the forethought to provide a parachute for the driver), he seems entrenched in his belief that he still deserves his spoils, whereas it was just tough luck that he swindled the shareholders out of their $100 mn due to his egregious licensing terms and the general display of managerial corruption, which have severely hampered the company's ability to raise funds from the sale of common equity. The impending failure of this company, no doubt, lies at the feet of Diwan, et. al.

To: Straynut who wrote (12473)	1/3/2020 9:44:48 AM
From: old 'n cranky	Read Replies (1) \| Respond to of 12873

Diwan is endlessly entertaining (unless your a shareholder). Regarding his loan... 1. The Company issued the NanoViricides Founder Dr. Diwan Provides $2,000,000 Loan Commitment to the Company press release on 12/3. It said, as you quoted: "A commitment fee of 10,000 shares of Series A preferred stock of the Company will be payable upon execution of the agreement." There was no mention of the specifics of how the loan was to be used and the only mention of TheraCour was a general statement in the About NanoViricides paragraph. 2. Then they issued their filing reporting the loan in an 8-K on 12/19, including Exhibits of the loan documents. It had some details regarding NNVC's use of the loan that were absent from the PR: "The remaining amount of the first tranche shall be disbursed to the Borrower for normal business operations, to be used firstly towards the payment of legal fees incurred by TheraCour Pharma, Inc. in negotiating the VZV/Shingles License Agreement, as required under the VZV License agreement dated November 1, 2019" The text of the 8K itself made no mention of the 10,000 share commitment fee payable to Diwan. YESTERDAY the Company filed an 8K/A (amendment) that corrected that "mistake". 3. The day after the loan agreement was made NNVC entered into a "Deferred Expense Exchange Agreement (The “Agreement”) with TheraCour Pharma, Inc. (“TheraCour”), a principal shareholder of the Registrant and the developer of the technology the Registrant licenses", whereby.... ".....TheraCour agreed to exchange $250,000 of the deferred development fees owed to TheraCour into 100,000 shares of the Registrant’s Series A Convertible Preferred Stock, par value $0.001 per share (the “Series A Shares”)." Diwan Disclosure. In bits and pieces. As predictable as those Mexican jumping beans used to be. BTW, every instance of NNVC and TheraCour above can be replaced with "Diwan" without any effect on the meaning of the statement in which it appears.