We were prediciting future PPS yesterday out one
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We were prediciting future PPS yesterday out one year from now. Share structure was mentioned and my PPS assumption includes an uplisting to the Nasdaq in one year. IMO if Treaty is at a turning point in their operations and it seems to be the case that holes are being drilled in many locations. Cash flow is improving so there shouldn't be much of a future need to raise AS, give away more percentages, or borrow. Maybe they give away a percentage for some offshore strategic alliance opportunity but that is down the road. So if revenue momentum picks up then maybe they use some funds to buyback more shares than not. The Nasdaq uplisted eligibility will require a heavy buyback to reduce the sharestructure from 985mm +/- OS so I doubt they can buyback all required shares to meet eligibility. That brings up a possible RS and normally that is a very bad event in the OTCBB markets but when combined with a PR announcing an uplisting; it is a very good thing and especially if the RS is minimized by a prior buyback program. There are lots of variables and four indivdual standards to uplist to the Nasdaq. I think TECO could make it with standard no. 4 "Assets with Equity" on page 6 in the link below. The minimum bid price for the Nasdaq is $4/share, market cap of $160mm, total assets of $80mm, stockholder's equity of $55mm. My prediction is a minimum of $4/share in one year but keep in mind our share counts would be reduced due to a possible RS to get to qualification and depending on how many shares TECO could buy back.
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