For the sheer fun of it, I thought I'd look up TCA Global which now holds the bulk of VHUB debt, and according to the Bloomberg website here's the description:
TCA Global Credit Master Fund, LP is a hedge fund launched and managed by Trafalgar Capital Advisors LTD. The fund invests in the public equity markets across the globe. It makes its investments in the securities of companies operating across diversified sectors. The fund seeks to invest in the stocks of small cap and mid cap companies. It employs a fundamental analysis to create its portfolio. The fund benchmarks the performance of its portfolio against the S&P 500 Index and the MSCI World Index. TCA Global Credit Master Fund, LP is domiciled in Cayman Islands.
Based upon what I read and what you're seeing just now about TCA Global, and predicated upon the majority of this discussion board's opinions about the current under-valuation of VHUB stock, I'll offer a far-out opinion.
If I were TCA Global, I'd convert the debt into equity - but then I wouldn't sell the newly-issued shares. Rather, I would take the company private via tender to the rest of the shareholders, run a couple of years of profits (and use those profits to deal if necessary with the FDA), and then I'd do an Initial Public Offering at a price looking a lot like the 9 to 18 cents valuation, or perhaps more as there'd be more of a track record of earnings.
Like the new series of Geico ads, if you're a hedge fund, that's what you do. As I've posted a number of times, I'm just a retired not-for-profit CFO who probably knows just enough to be dangerous, so feel free to rip this idea to shreds or improve upon it.
