Theory #2 reduce OS to attract better finance
This theory is gaining more and more traction and make some sense of this RS BS.
Discovery is the main target.
let's put all the info. that we know so we can get a better picture
OS at 157MM accounted for 7.5MM payment to Discovery, knowing that 35 preferred got them 7.5MM.. I'm sure they already cash in their chips for this 7.5MM shares.
47.7MM common tied to Discovery on recent filings,
12.5MM warrants exercise no less then .20 cents--we don't have to worry about this 12.5MM for now.
Bruce, any idea of details on the 35.2MM being exercise?
Ziv's settle of 750K (let's go with your math of 20MM at the current price to Ziv)
If they find a better lender to replace Discovery, here's what we know
OS 157MM
+20MM for Ziv's settlement
Total OS at 177MM
ok worse case... I don't believe Discovery can exercise all 35.2MM before OWCP replace their loan.. let's go with the worse case scenario
+35MM for Discovery
Total OS go from 177MM to 212MM
Bruce, as soon as they paid back Discovery, that should cut all ties and terminate all terms associated with the original loan right? OWCP realized they have to address this loan ASAP so I don't think they will drag their feet on this issue.
Did I miss anything in my fantasy break down?
If my calculation is within the ball park, our OS would be near 212MM with max PAIN build in to cut ties with Discovery.
Pardon me if my math is not account for certain terms that I missed. You guys are welcome to make the corrections.
212MM is not the end of the world.. Why mgmt have use the 500 max ratio? Hope for the best and prepare for the worse...
At the RS of only 1 to 20 will reduce the OS under 10MM. A max of RS ratio of 1 to 100 would be very painful to all current shareholders.
RS of 1 to 3 reduce OS to ~52MM
RS of 1 to 5 reduce OS to ~31MM
RS of 1 to 10 reduce OS to ~15MM
RS of 1 to 20 reduce OS to ~8MM
RS of 1 to 100 reduce OS to ~1.5MM
Milo, you meet some members of MGMT. You probably can chime in on how you felt about their characters. If the RS gets approved, will they go with a high ratio and nuked current shareholders or leave us a reasonable % ownership of the company to re-coup our losses. We all know dilution is coming. We just don't know our share of the pie after the potential RS.
This theory is gaining more and more traction and make some sense of this RS BS.
Discovery is the main target.
let's put all the info. that we know so we can get a better picture
OS at 157MM accounted for 7.5MM payment to Discovery, knowing that 35 preferred got them 7.5MM.. I'm sure they already cash in their chips for this 7.5MM shares.
47.7MM common tied to Discovery on recent filings,
12.5MM warrants exercise no less then .20 cents--we don't have to worry about this 12.5MM for now.
Bruce, any idea of details on the 35.2MM being exercise?
Ziv's settle of 750K (let's go with your math of 20MM at the current price to Ziv)
If they find a better lender to replace Discovery, here's what we know
OS 157MM
+20MM for Ziv's settlement
Total OS at 177MM
ok worse case... I don't believe Discovery can exercise all 35.2MM before OWCP replace their loan.. let's go with the worse case scenario
+35MM for Discovery
Total OS go from 177MM to 212MM
Bruce, as soon as they paid back Discovery, that should cut all ties and terminate all terms associated with the original loan right? OWCP realized they have to address this loan ASAP so I don't think they will drag their feet on this issue.
Did I miss anything in my fantasy break down?
If my calculation is within the ball park, our OS would be near 212MM with max PAIN build in to cut ties with Discovery.
Pardon me if my math is not account for certain terms that I missed. You guys are welcome to make the corrections.
212MM is not the end of the world.. Why mgmt have use the 500 max ratio? Hope for the best and prepare for the worse...
At the RS of only 1 to 20 will reduce the OS under 10MM. A max of RS ratio of 1 to 100 would be very painful to all current shareholders.
RS of 1 to 3 reduce OS to ~52MM
RS of 1 to 5 reduce OS to ~31MM
RS of 1 to 10 reduce OS to ~15MM
RS of 1 to 20 reduce OS to ~8MM
RS of 1 to 100 reduce OS to ~1.5MM
Milo, you meet some members of MGMT. You probably can chime in on how you felt about their characters. If the RS gets approved, will they go with a high ratio and nuked current shareholders or leave us a reasonable % ownership of the company to re-coup our losses. We all know dilution is coming. We just don't know our share of the pie after the potential RS.
