A couple of days ago, CytoDyn Inc (PINK:CYDY) started moving up. Yesterday, the stock gained the next 3.86% on the market, 
while its traded volume jumped up. Though, the reason for the sudden up move remained in mystery.
Historical data shows that CYDY has not released any announcements on its business recently and no one is familiar with the company’s current activities. To be clear, the latest information on CytoDyn was a NT Form filed with the SEC this month. The document was a notification of late filing regarding the last 10-Q report of CYDY, which apparently is not ready yet.
In the meantime the only financial data that investors can find, appears to be the previous report of the company, which is hardly up to date at present. And even if it was, the numbers would definitely discourage traders.[BANNER]
According to the 10-Q as of February 28, current liabilities of CYDY were 50% higher that its current assets, while the stockholders’ deficit totaled over $4.4 million. At the same time net loss got double, and the accumulated deficit during development stage jumped over $14 million.
Considering the huge losses and the company’s cash position of only $476.722, the future of CYDY does not look bright at all. As it has not emerged from its development stage yet, CytoDyn depends upon the ability to achieve profitability, while financing its activities from the sale of public equity securities and proceeds from notes payable.
