I think you've got it backwards. No institution will go near Yacov. That's why he has to self-fund.
Yacov doesn't pursue profit by any diligent concrete measure. (Product, customers, revenue.) He plays musical chairs and charades with stock certificates and PR vapor. Institutions, who look at financials, can see this. Imagine if half the effort of delisting and re-listing went into doing the paperwork for NMPA.
But here's the kicker.
Even if profitsomehowhappened to GMV -- by accident--eg, let's say a trendy fad product landed in their lap, and they somehow scored customers without having to compete for them, and somehow made a profit -- eg, with generic Covid testing -- Yacov would promptly pick every shareholder and institution's pocket by minting and printing a new third of the company in Performance Shares, and donating it to himself.
He thus designs his company to be uninvestable. Even if the company wins by a fluke, investors will not participate in the win. So why would an institution go near him?
Dr Yacov Geva is a crook to the core.
True to form, he's given himself the right to buy 4M new shares at $1.24. Yes, the right to flood the plain with dilution, and add 20% new shares to the company, to sell to himself, at a 75% discount to the already dismal IPO price of $5.
Because -- why pursue Performance Shares? They still require performance. (Albeit mediocre, disappointing, avoid-the-AGM performance.) That's too much work. Why go to that much trouble when he can score a tidy profit at a complete abject failure SP instead? At $1.24, he just needs the SP to get to $1.50. Job done. He keeps lowering the bar and handing himself new medals.
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