Ok, so after looking over the transcript to refres
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Posted On: 11/01/2019 2:02:35 PM
Ok, so after looking over the transcript to refresh/clarify from the call, here is my current thinking for discussion...
Let's assume the Naz Equity and Assets boxes get checked after the K, though I still believe the Net Tangible Asset calc which is -$34MM on the last 10Q (vs +$2MM required by Naz) is a possible hitch. Obviously I don't know how many assets were added by deals closed since that Q was filed, the value of loans retired, if intangible assets were reduced in some major way, etc. But I'll submit to Joe's confidence in that matter until we see the K.
If there is little wiggle room w the Naz and they have to strictly follow the listing rules as shown, I really feel like the NGIO spin is THE key to an immediate uplist. I have much trouble seeing how a $2+ stock price from when the market cap didn't meet the minimum would check that box for us. And we TECHNICALLY didn't meet the $2 for the 90 days on this latest attempt, although it was DAMNED CLOSE. However, if NGIO spins and adds a significant amount of cash to the balance sheet and gives Joe a truly marketable asset he can go to for cash as he needs it, the price goes well above $2... helping us meet a $3 or $4 listing criteria, and we're off to the races.
If NGIO doesn't spin for some reason, I don't see where a share price boost of that magnitude comes from in the next month or so.
Maybe there is a surprise coming from a licensing deal, etc. But absent the planned November NGIO spin, some unknown rocket fuel, or the ability for the Naz to provide flexible interpretation of their own rules, I believe we will have to wait 6 months for Excellagen to ramp up, AZ to possibly provide some revs, MSO to add a couple more states, licensing deals to be signed, etc. Obviously an NGIO spin in a few months would do it as well.
The 10k is acceptable with the Naz application for 15 months, if it checks all the boxes except share price. So I do believe we will get there soon. But I ultimately think it takes immediate NGIO cash for an uplist this calendar year or a longer/larger revenue build to hit it next year.
Thoughts?
Let's assume the Naz Equity and Assets boxes get checked after the K, though I still believe the Net Tangible Asset calc which is -$34MM on the last 10Q (vs +$2MM required by Naz) is a possible hitch. Obviously I don't know how many assets were added by deals closed since that Q was filed, the value of loans retired, if intangible assets were reduced in some major way, etc. But I'll submit to Joe's confidence in that matter until we see the K.
If there is little wiggle room w the Naz and they have to strictly follow the listing rules as shown, I really feel like the NGIO spin is THE key to an immediate uplist. I have much trouble seeing how a $2+ stock price from when the market cap didn't meet the minimum would check that box for us. And we TECHNICALLY didn't meet the $2 for the 90 days on this latest attempt, although it was DAMNED CLOSE. However, if NGIO spins and adds a significant amount of cash to the balance sheet and gives Joe a truly marketable asset he can go to for cash as he needs it, the price goes well above $2... helping us meet a $3 or $4 listing criteria, and we're off to the races.
If NGIO doesn't spin for some reason, I don't see where a share price boost of that magnitude comes from in the next month or so.
Maybe there is a surprise coming from a licensing deal, etc. But absent the planned November NGIO spin, some unknown rocket fuel, or the ability for the Naz to provide flexible interpretation of their own rules, I believe we will have to wait 6 months for Excellagen to ramp up, AZ to possibly provide some revs, MSO to add a couple more states, licensing deals to be signed, etc. Obviously an NGIO spin in a few months would do it as well.
The 10k is acceptable with the Naz application for 15 months, if it checks all the boxes except share price. So I do believe we will get there soon. But I ultimately think it takes immediate NGIO cash for an uplist this calendar year or a longer/larger revenue build to hit it next year.
Thoughts?
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