The CEO of Oramed Mr Kidron was fortunate enough to sell 220,000 shares at $20.00 of a business model without a product, revenue, the prospect of a product, over $100 million in accumulated losses on the promises of a pill for oral insulin, a pill as a Covid 19 vaccine, and, presumably a partridge in a pear tree.
The buyers of that promise include the usual suspects of helium identified in SEC filings by a prospectus to sell 3 million Oramed shares filed in February 2021.
The candidates to be selling shareholders of Oramed in the filings, among others, Armistice Capital, Altium Growth, Sabby Volatility, Bigger Capital, and Messrs Vasinkevich, Worthman, and Viklun of underwriter HC Wainright.
There is an August 2021 prospectus supplement that admits in June 2021 Messrs Vasinkevich and Worthman transferred warrants for 75,000 shares to Warberg Asset Management and Altium Growth transferred 472,000 warrants to OTA.
The trail of shareholders, stakeholders, and unconflicted dentists in San Diego have a trailer to watch for the Oz of castles in the air.
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