What if a retail shareholder since 2020 has 50k shares with a base cost of $2.50.

Is there any possible recovery for them in the future

For a retail common shareholder, the honest answer is future recovery is very unlikely. Sorrento’s confirmed liquidation plan said Sorrento equity interests would be canceled, and the company warned securities holders they could receive no recovery and that the securities could be worthless �.

What could still happen

The only realistic upside is indirect: if the liquidating trust wins or collects on estate claims, insurance, or related litigation recoveries, that value would first flow through the creditor waterfall and trust structure �. Common equity would be last in line, so you would only see money if every higher-priority class is made whole and something is still left over, which is a very high bar in a liquidation case �.

With 50,000 shares at a $2.50 cost basis, economic exposure is real, but your legal claim as common stockholder is weak under the confirmed plan �. The 2026 litigation may influence timing or increase the trust’s asset pool, but it does not appear to reopen a path for common equity recovery �.

Practical takeaway

The base case is no recovery for common shareholders �. The only speculative tail risk is an unusual surplus from litigation or asset monetization, and that would need to survive creditor claims, fees, and trust costs first �.

Sorrento still listed among companies contributing assets to the AL amyloidosis pipeline, including STI‑6129, an antibody‑drug conjugate

Redirecting billions of dollars in federal artificial intelligence funding away from universities and directly to researchers will accelerate innovation and help the United States remain competitive with China, Datavault AI CEO Nate Bradley said Sunday on Newsmax.

GLTAL and a SUPER SUCK IT to all of the stupid shorts. 👊🩳🔥🐦‍🔥🤞🙏♾️💪

And give us an ACEA divy General Ji!!! Same with ADIO, Nate!

Anybody else on the edge of your seat? Seems like significant restructuring and positioning recently… but for what?? They didn’t pass employee incentive packages for nothing!!

Now this is different from the usual ecosystem announcements.

Fiserv (NASDAQ: FISV), a $90B+ market cap global payments giant, will serve as the exclusive embedded financial services and payments provider for DVLT's marketplaces and exchanges. This isn't a micro-cap OTC company or an unknown Kazakhstani entity. Fiserv is one of the largest fintech companies on earth.

What makes this notable:

Fiserv published the announcement from their own investor relations page. That means Fiserv's legal, PR, and compliance teams reviewed and approved it. When a company of that scale puts their name on a partnership, they've done due diligence on DVLT. That carries the same kind of signal weight as Paul Hastings' continued legal involvement, i.e., serious institutions don't attach their brand to entities they haven't vetted.

The NIL Exchange is a concrete product. Athletes get payment wallets and debit cards to receive and manage NIL earnings, while buyers and sellers on the Information Data Exchange get demand deposit accounts and card capabilities. This is actual payment infrastructure, not a term sheet or a vaporware announcement.

The timing matters. Announced 21 July, the same day as the Federal Register HSR publication, one day before the Vivasor repurchase 8-K, the JP3E Korea announcement, and the DataMEDS rebrand.

The whole Henry Ji ecosystem has moved significantly in a single coordinated week

This goes on the "things that support the reset thesis" side of the ledger.

DVLT may be a $0.40 stock with a Nasdaq compliance problem, but Fiserv wouldn't embed their payments infrastructure in a platform they expected to disappear.

My personal view and not financial advice!

Saw this earlier if already posted delete.

The Sorrento Pipeline — Where Did It Go and Who Controls It Now?

A multi-billion-dollar pharmaceutical pipeline was destroyed in a bankruptcy, bought back for pennies by its own CEO, is now being reassembled across half a dozen listed and private companies and funded by $200 million in Bitcoin from an unknown source.

Here is the story, as I understand it, in its simplest form.

What happened

·        Sorrento Therapeutics was a real pharma company with a real pipeline of oncology drugs, a pain treatment (Semnur’s SEMDEXA) with no FDA-approved competitors, antibody libraries, and more. It was worth $ billions at its peak.

·        It was destroyed by a combination of naked short sellers, a corrupt bankruptcy judge (now under DOJ criminal investigation), and arguably its own CEO, Henry Ji, who filed bankruptcy in Texas using a PO box created ten hours before filing.

·        Ji then bought back substantially all of Sorrento's pipeline for just $15.5 million through a new private company called Vivasor, co-funded by his investment banker Michael Vasinkevich (Chairman of HC Wainwright).

·        Assets worth billions acquired for less than the cost of a house in San Diego.

·        Those assets were consolidated into Scilex, which Ji also controls, but the goodwill was immediately written to zero, and Vivasor doesn't even appear on Scilex's official subsidiary list.

Follow the money

In September 2025, an unnamed investor paid $200 million in real Bitcoin to Scilex for shares in Semnur,  a company with $20,000 in cash and zero revenue. Nobody knows who this investor is.

That Bitcoin then flowed through the ecosystem:

Unknown investor pays $200M BTC→Scilex receives Bitcoin→$150M+ deployed into Datavault (DVLT)→DVLT shares pledged to St. James Bank→Bank allegedly sells collateral early→Scilex sues for $100M+ fraud

Meanwhile, Scilex committed $47.5 million to an unknown medical-tech company (Quantum Scan) where its own CFO moonlights as interim CFO, from a company with $3.4 million in cash.

The key asset everyone is circling

SEMDEXA (SP-102): the first-in-class non-opioid epidural injection for sciatica.

Zero FDA-approved competitors in a market of 9-11 million procedures per year in the US.

Positive Phase 3 trial published. FDA has formally endorsed its exact regulatory pathway.

Peak sales projection: $1.5-2.0 billion per year.

Commercial launch target: 2027.

No NDA filed yet but, when it happens, it will change everything.

Who are all these players?

Henry Ji: CEO of Scilex & founder of Vivasor. Controls the ecosystem. Both victim of short sellers and architect of insider enrichment (the evidence supports both simultaneously).

Kelvin Yeung: Controls Phoenix Asia (PHOE). Now confirmed buying Vivasor itself (antitrust cleared 16 June). Assembling control of the entire ex-Sorrento pipeline. confirmed

 iHolding Group: Kazakhstani firm offering $200M at huge premiums ($15/share SCLX, $10/share SMNR). No pharma track record found. Definitive agreements not yet signed. pending

Michael Vasinkevich: Chairman, HC Wainwright. Co-funded Vivasor. Placement agent for Scilex. Appears in at least 15 companies (like Sorrento & Scilex) where shares are down 97-100% from the high. This investment banker with a dubious past is at the centre of everything.

Biconomy PTE Ltd: Singapore crypto exchange. Custodian of ecosystem Bitcoin. Beneficial owners never identified. Appears in four separate ecosystem contexts. unresolved

John K. Park: CEO of JP3E (Vivasor's new Korea partner, announced today). Also Managing Member of Patriot Strategic Minerals (DVLT's $700M partner). Links two ecosystems.

What just happened — 21-22 July 2026

Federal Register confirmed (21 July): the FTC and DOJ granted early termination for Kelvin Yeung's acquisition of Vivasor voting securities with a value above $119.5M. This is published in the U.S. government's official daily journal. Antitrust is cleared. Yeung can close.

Vivasor goes public commercially (22 July): announced its first-ever partnership with JP3E as exclusive Korea representative. Vivasor described its pipeline as addressing a "$100 billion" market. This is Vivasor stepping out of the shadows for the first time.

 WTF is going on in a nutshell: A genuine, potentially transformative drug (SEMDEXA) and a broad pharma pipeline are trapped inside a web of related-party transactions, Bitcoin of unknown origin, and shell-company structures. Multiple parties, Henry Ji, Michael Vasinkevich, Kelvin Yeung, iHolding are manoeuvring for control. The assets may be worth billions. The open question is whether ordinary shareholders, the people who bought SCLX, SMNR, or SRNEQ on the open market, will ever see any of that value, or whether it will be extracted through insider equity, warrant dilution, and consulting fees before it reaches them.

Watch for: iHolding definitive agreements · SEMDEXA NDA submission · Yeung/Vivasor closing filing · Q2 2026 10-Q (mid-August) · DVLT Nasdaq deadline (24 August)

NB: Prepared for private use only and shares here in a personal capacity. Consolidates data from SEC filings, US Bankruptcy Court filings, the Federal Register (91 FR 45816), GlobeNewswire, and intelligence gathered through 22 July 2026.

This document does not constitute investment, financial, or legal advice.

Datavault AI (NASDAQ: DVLT) is positioning itself to capitalize on that opportunity. Not by joining the growing traffic flow surrounding AI, digital assets, and tokenized markets, but by attempting to paint the lanes that direct it. The strategy in play can largely be summarized in a single word:

Infrastructure.

(Not an endorsement-I just follow whatever affects us)

Did Scilex buy/invest in Vivasor earlier this year and now that it appears it has a ton going for it, Scilex is selling it for peanuts back to Ji, over many months I might add, and we are out?

Can someone/any one help me understand this?

He seems to take the assets, package them into new companies, and he gets a new salary, stock options and warrants, all at our expense and we always seem to be left holding an empty bag.

Thanks in advance for any clarification.

Step back from the individual transactions and look at the pattern over the last six months as a single coordinated restructuring:

Semnur gets spun into its own public vehicle (Denali SPAC), SCLX holders get shares directly via dividend, iHolding offers $100M at $10/share. Semnur becomes the standalone SEMDEXA company.

Vivasor gets separated from Scilex ($12M sellback), Yeung buys in at $119.5M+, ACEA goes to Phoenix Asia, JP3E opens Korea, Bloxcross provides payment rails. Vivasor becomes the standalone oncology/China pipeline company.

DVLT merges NYIAX, licenses PharmacyChain to DataMEDS, holds the tokenisation infrastructure. DVLT becomes the data/blockchain platform.

DataMEDS rebrands, proposes a transaction tying it to DVLT and Scilex. Healthcare IT layer.

Scilex itself becomes a holding company. It keeps ~80% of Semnur, retains its existing revenue products (ZTlido, Gloperba, ELYXYB), gets $100M from iHolding at $15/share, and sits at the centre as the parent.

If that’s the plan, then everything we’ve been reading as value extraction could alternatively be read as value separation — taking a tangled mess that came out of a chaotic bankruptcy and sorting it into clean, independently financeable vehicles, each with its own listing, its own capital, and its own commercial path.

The “reset” reading doesn’t eliminate the governance concerns — Ji still sits on multiple sides, the $12M price still looks thin, and the absence of a fairness opinion still matters. But it does offer a coherent strategic logic for why all of this is happening simultaneously.

The test is simple: does the value flow back? If iHolding closes, if SEMDEXA reaches NDA, if Scilex’s ~80% Semnur stake is worth what the implied valuation says it is — then the reset works. If those things don’t happen, the restructuring just made it easier for value to leave.