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Posted On: 01/09/2021 1:57:54 PM
Post# of 36541
Hi, Assiduous,
I don't follow the math in your second paragraph. If there were 100MM shares and we own 36MM from divs, Joe would have 64MM pre-IPO. Take a look at my post #25160 for my assumptions and approach.
But I think I differ from your thinking on a couple of key items:
1) We could get listed and IPO on Naz @ $4 if Joe finds investors that are not constrained by the $5 rule. These investors could be legit (not like the sharks we've encountered here), and we would be on the NAZ with the trading protections that would afford us. If value continues to accrue as vaccine progress occurs, we could quickly best that $5 mark and further open up our market.
2) The $500MM may not be the end of the line. So in my straw man analysis, I supposed that Joe could upsell that to $600MM.
That would mean 150MM shares @ $4. Joe could minimize the initial IPO sale to start turning the wheels and stay further above 50%.
If the potential is really that great and close, we should move forward and get some pieces moving. There is no potential if we continue to sit on the sidelines and risk the whole fragile project falling apart.
I obviously don't know what the final details will be. I guess my main point is that there is a path here, even with the valuation being lower than what we hoped/expected. But waiting much longer may be a mistake due to our current financial situation.
Let me put it this way. If I were one of the people who had sold my company to Joe in exchange for $2.50 shares, I would be clamoring for Joe to move on this and not wait more than a month or two for further value to accrue. A bird in the hand... we haven't had too many of those.
I don't follow the math in your second paragraph. If there were 100MM shares and we own 36MM from divs, Joe would have 64MM pre-IPO. Take a look at my post #25160 for my assumptions and approach.
But I think I differ from your thinking on a couple of key items:
1) We could get listed and IPO on Naz @ $4 if Joe finds investors that are not constrained by the $5 rule. These investors could be legit (not like the sharks we've encountered here), and we would be on the NAZ with the trading protections that would afford us. If value continues to accrue as vaccine progress occurs, we could quickly best that $5 mark and further open up our market.
2) The $500MM may not be the end of the line. So in my straw man analysis, I supposed that Joe could upsell that to $600MM.
That would mean 150MM shares @ $4. Joe could minimize the initial IPO sale to start turning the wheels and stay further above 50%.
If the potential is really that great and close, we should move forward and get some pieces moving. There is no potential if we continue to sit on the sidelines and risk the whole fragile project falling apart.
I obviously don't know what the final details will be. I guess my main point is that there is a path here, even with the valuation being lower than what we hoped/expected. But waiting much longer may be a mistake due to our current financial situation.
Let me put it this way. If I were one of the people who had sold my company to Joe in exchange for $2.50 shares, I would be clamoring for Joe to move on this and not wait more than a month or two for further value to accrue. A bird in the hand... we haven't had too many of those.
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