Wednesday, October 18, 2017 9:32:31 AM
I "indicate interest" in buying a 60's era Ferrari Spider. Doesn't mean I bought one and I sure wouldn't offer to pay 2X the current value.
Remember the Doc Frost capital infusion several years ago. Frosty received 2:1 share ratio for every $1 investment. Essentially he invested .50 cents and was granted $1 in equity. The deal made sense.
This "indicating interest" filing by Ryan's good friends FATHER is supposedly offering to pay double the current market price. Why?
This "indicating interest" was already disclosed 2 Quarters ago (6 months) and was being valued at $1.60 a share. Why increase the option price as the stock has gone down -50% since the time of disclosure?
Here is your likely answer:
Ryan is transferring the title to 100% of the MSLP assets to Buck Wessel and curing his "arms length notes" that could get tied up in bankruptcy court with several lawsuits currently pending that he has been sued personally for.
The reason the option price is 2x todays value is that Ryan's option price is that number on the $18m in debt due November 5 and he has to meet the value which is ridiculous over priced.
This can only be part of a take-under and going private move that will leave shareholders holding an empty bag.
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