This is an amended s-1. Common stock to be offered by the selling stockholders 147,000,000 shares including (i) 90,000,000 shares, 10,000,000 which have been issued, and 80,000,000 which we may issue under the Purchase Agreement with Lincoln Park; (ii) 12,000,000 shares of common stock which have been issued or maybe issued to PGI Drug Discovery or Memory Dx, and (iii) 45,000,000 shares issuable upon exercise of warrants. To say that they won't recurve any money is not true!!!
We will receive no proceeds from the sale of shares of common stock by the selling stockholders in this offering. However, we may receive up to $20,000,000 under the Purchase Agreement with Lincoln Park, of which we have already received $400,000. Also, we may receive the exercise price of any common stock we issue to the selling stockholders who hold the warrants included in this prospectus, upon exercise of their outstanding warrants. However, the holders may exercise their warrants on a cashless basis if at any time after the six months anniversary there is no effective registration statement or current prospectus available for the resale of the shares underlying the Warrants, in which case we will not receive any proceeds from such exercise. You also make it sound as if lpc is getting them immediately and selling all .
It's under our discretion when the get them and then they may sell or hold !!!