I think that is the goal as a first step. The letter specifically states they will not get to .01 through a reverse split. That means Sitra, and the new investors, believe shares are worth more than .01 without any share structure manipulation.
I would think the investors want to use TGRR as a shell and reverse merge a private company that is already in the energy and lighting business. That could send shares up 5x from wherever they are trading when that news is announced. There will be a pullback of at least 90% from those highs before the dust settles. I will continue holding a small position through the process but will take some profits on the way up. A big move is coming. People selling today don’t understand the process that has been set in motion this morning. This is no longer a play on Caribbean restaurants, rum distribution, favorable share structure or anything else we have thought in the past. Now the reason to hold is Sitra’s recent purchases, company’s stated belief shares are undervalued and set a price target above .01 and the fact that a major deal is coming for TGRR.
I wouldn’t be surprised if these NY guys already have a private company in mind to take public through TGRR. Why else would they have forced Sitra to go into a specific new industry as a condition of financing? He is a restaurateur, not a green energy industrial manufacturing guy. They can’t be forcing him into an unfamiliar industry without a well thought out plan. His move to buy a large position in the shares might have been his way to forcing any new investors to allow him to remain at the company. He now has a large block of voting shares as leverage. Otherwise they may have forced him out just like the debtors did when he was at BLUU.
