Tiger Reef Inc (TGRR)

[MikeyInTheD]

Yes I have read the letter and think it is exactly what I have been saying as the case against BLUU/BWBG/TGRR for years. It is too costly to operate a single restaurant operation as a public company. It was never going to be a feasible business model for longterm value creation. Sitra admitted that directly in the letter to shareholders. No one will give them capital if they try to keep the legacy business concepts. Sitra says that he has run successful restaurants in the US. That may be true but operating in the Caribbean is one of the most difficult markets in the world. He never had the expertise or capital to make this concept work for shareholders.

As I have previously stated, you cannot own the company based on the current share structure. Many have said that is the number one reason to own TGRR. However, there will be major dilution to shareholders through a capital raise. I have stated this would be the case for years now and that appears to be happening. The company will greatly expand their share count in order to raise capital for operations and to retire the toxic debt.

They are entering a completely new and unfamiliar industry which I don’t believe Sitra has any experience. The CBD and green energy industry stocks are white-hot at the present time and Sitra and the new investors are trying to grab some attention. While this will help in boosting share prices in the short-term; I have little hope they can execute a successful conversion to this new industry for longterm value creation.

I currently own shares and will begin trimming my position if this news creates massive spikes in share price. While I think there is a lot of money to be made here in the near term; long-term the prospects are much more unclear.

I have been proven correct with my calls on the ultimate failure of TGRR and that Sitra would be forced out, change business model or allow the ticker to go silent. This news is the best case scenario I could have seen for the shareholders and hope we can all make some money before it ultimately fails as a CBD green energy company.

https://sec.report/Document/0001593470-19-000003