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Monday, February 17, 2020 12:13:11 PM
The problem here is that because the company never really articulated clearly the need for their previous RS, all we are left with is speculation.
The other, less talked about, possibility is that the company never intended and certainly never expected their previous RS attempts to succeed! Think about it, how often does one see an open ended 1:500 or 1:700 RS proposal? Aka give me a blank cheque and we'll fill in the amounts. Seldom or never!
If you buy into the above possibility, you might say that the company achieved its goals. They scared away weak hands, obtained for themselves some cheap shares, and they were able to give Ziv Turner 46 million shares, rather than a paltry amount of cash. You see, we have every reason to believe that Ziv Turner is still very much a part of the inner circle that includes the original amigos Sinai, Baruch, and Bignitz.
I know that some will not agree with the above, and just see it as pure speculation. Fair enough.
I see it as a positive and an indication that if they did see a need for another RS, this time it will be well articulated and not be in the form of a blank cheque. Rather, it will be on terms that make sense and that are much more palatable to investors.
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