Generex Biotechnology Corporation (OTCMKTS:GNBT) has been on the move in recent days after dipping below the $1 mark last week the stock has surged to highs near $2 per share on big volume.
GNBT has been on the move since the Company announced plans to declare a 1:1 stock dividend, contingent upon the successful up listing to NASDAQ, to complete the strategic reorganization from a pure development company to a an end-to-end solutions provider for physicians and patients.
Joseph Moscato, CEO of Generex stated, “On June 20, Generex plans to declare a 1 for 1 dividend for shareholders of record with certain conditions, noting that verbal commitments have been given that the dividend will be waived by all insiders and other major equity holders not in the public float. Once that is formalized, this dividend will be the last dividend from the company in conjunction with its completion of its current overall three-stage development plan.
Generex Biotechnology Corporation (OTCMKTS:GNBT) is an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies. Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in an MSO network, and ongoing relationships with patients to improve the patient experience and access to optimal care.
In addition to advancing a legacy portfolio of immune-oncology assets, medical devices, and diagnostics, the Company is focused on an acquisition strategy of strategic businesses that complement existing assets and provide immediate sources of revenue and working capital. Recent acquisitions include a management services organization, a network of pharmacies, clinical laboratory, and medical device companies with new and approved products.
Our newly formed, wholly-owned subsidiary, NuGenerex Distribution Solutions (NDS), integrates our MSO network with a pharmacy network, clinical diagnostic lab, durable medical equipment company (DME-IQ) and dedicated call center.
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Over the last three months, Generex has made significant strides in executing on its strategic plans, and intends to file an S1 registration statement with the SEC in the coming weeks. The company’s subsidiary Olaregen launched Excellagen, which is FDA cleared for wound management, selling out the first commercial lot in less than a month. The company is reorganizing its MSO model with expanded controls and compliance standards and expanding into new geographic territories. In the last few weeks, Generex has finalized terms for the acquisitions of Pantheon Medical and Medicsource Partners, which are expected to close shortly. Generex is also expanding the NuGenerex family of companies with the formation of NuGenerex Chronic Care Solutions that will provide ancillary health services for a multi-clinic endocrinology practice that serves a large population of patients with diabetes and metabolic disorders.
Mr. Moscato added, “The final future piece of our corporate vision is the establishment of an HMO, NuGenerex Health, in partnership with Dr. Kiran Patel, who most recently sold his prior HMO, Freedom Health to Anthem for $1.8 billion. This exciting opportunity with Dr. Patel demonstrates our commitment to build a new kind of healthcare company that develops and delivers innovative new products like Excellagen and specialty health services like NuGenerex Chronic Care Solutions to provide end-to-end solutions for physicians and patients in our HMO network. Dr. Patel has done seven successful HMOs and I am honored to have the preeminent leader in the HMO sector and utilize his world class experience in creating NuGenerex Health Services.”
On June 5 GNBT announced it has rescheduled the investor conference call originally scheduled for May 15, 2019. The new date for the call will be June 21, 2019, at which time Joseph Moscato, President & Chief Executive Officer of Generex will present an organizational roadmap outlining Generex Biotechnology’s operational, strategic and financial plans, as outlined herein.
Mr. Moscato said, “I appreciate everyone’s understanding and well wishes as I have been recovering from an unexpected medical issue that prevented me from holding our scheduled call that we have been conducting with our investors on a monthly basis. Now that I am well, I look forward to sharing some exciting news on June 21st.”
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Currently trading at a $77 million market valuation GNBT reported $6,567,942 in sales for the 6 months ended January 31, 2019 up from $2k for the same period the year before. GNBT is an exciting Company in small caps; the company’s subsidiary Olaregen launched Excellagen, which is FDA cleared for wound management, selling out the first commercial lot in less than a month. GNBT is currently reorganizing its MSO model with expanded controls and compliance standards and expanding into new geographic territories. In the last few weeks, Generex has finalized terms for the acquisitions of Pantheon Medical and Medicsource Partners, which are expected to close shortly. We will be updating GNBT as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with GNBT.
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Disclosure: we hold no position in GNBT either long or short and we have not been compensated for this article.