Generex Biotechnology Corporation (OTCMKTS:GNBT) said it has submitted a request to FINRA for corporate action and also released the applicable fees in November 2019. The company further said it has responded to the requests of FINRA several times and put in significant efforts to distribute the dividend in the ratio of 2:5 in Generex and NuGenerex Immuno-Oncology.
Chief Executive Officer and President of Generex, Joe Moscato, said the company will distribute the dividend to the shareholders on February 24, 2020. Therefore, it fulfills the promise given to the shareholders. According to FINRA, the record date set on August 30, 2020, is too long. Now, the record date for the dividend is set on February 17, 2020. It is on the backdrop of approval received from FINRA.
Investor Conference on February 13, 2020
The topics for discussion during the investor conference include Nasdaq listing, Arizona operations, NGIO spinout, S1 funding, 5:2 dividends, and 2019-nCOV-corona. Joe and his team will explain how NuGenerex Immuno-oncology li-key technology activates the immune system to get protection from a myriad of viruses that include the H5N1 avian influenza virus. They will also review the work done by the government agencies and development partners for implementing li-key peptide vaccines.
The team expects to use the li-key peptide vaccines to improve immunity to Avian influenza and the 2019-nCOV. They will also discuss to involve NuGenerex Diagnostics for developing a rapid test for the 2019-nCOV in blood and respiratory samples with the help of NGDx Express 2 rapid diagnostic technologies.
Update on corporate actions
Joe will issue an update on the forthcoming corporate actions that include the NASDAQ listing process, S1 funding, completing ALTuCELL takeover, initiating Arizona operations, and a solution for managing the diabetes patients.
On receipt of S1 funding, Generex will use the proceeds to support the commercial operations of its subsidiaries with operating, marketing, and sales budgets. The company will introduce new products from Olarex, Dermacell, and Olaregen that expect to generate significant sales. It will also broaden the Excellagen sales team. The company is pleased to unveil Excellagen Aesthetics. Joe said the company will improve the marketing and sales efforts and develop an inventory of Pantheon and MediaSource partners to concentrate on revenue growth and global expansion.
