Wednesday, October 18, 2017 8:36:51 PM
the company just gave us an idea of what value they believe the company was worth in it's distressed state when they 'sold' the assets to the CEO for (IMO) about 10 cents on the dollar for a 2.5 million dollar loan. Market value $25 mil.
so when they (the directors) approved the loan to the (company controlled by) CEO AMDA was in dire straits, ie: in danger of being delisted, encumbered by terms of a loan that severely limited their options and a falling share price. this happened at the beginning of September. I believed at the time this action was necessary.
Now the threat of delisting is diminished and will be negated when corporate governance issues are corrected (SEC filings and R/s to get SP over $1). if /when these issues are are corrected then the IP and other company assets should be valued $75mil to $100mil.
Now the company has a couple of FDA approvals pending and the encumbering loan is to be paid off before the end of year. if/when these happen well your guess is as good as mine as to the market value but i would think many multiples of $100 mil.
GLTY
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