CTT PHARMACEUTICAL Holdings Registers 6.25M Shares for Resale via ELOC

CTT PHARMACEUTICAL Holdings, Inc. has filed an S-1 registration statement for the resale of up to 6,250,000 shares of common stock by a selling stockholder, RH2 Partners, under an Equity Line of Credit (ELOC) agreement. While the company will not receive proceeds from the resale, it may receive up to $10,000,000 from selling shares to the selling stockholder under the ELOC for working capital and equipment. The company, a development-stage firm with a history of losses and a "going concern" qualification, aims to limit dilution, especially at current stock price levels, and plans to raise no more than $1 million under the ELOC unless its stock price exceeds $1.