Helix Technologies Inc. (fka HLIX)

[NobleRoman]

The OS of Forion will be 17 million by my speculation, based on the below data:

**Minor Corrections and Additions to the previous posts**

At the close of business on October 16, 2020, the number of outstanding Units of membership interests in MOR was 12,906,660 (on an as-converted basis, inclusive of Units underlying allocated options, and pro forma for $13,000,000 in MOR Offering proceeds). Pursuant to the contribution to be effected in connection with the Parent Reorganization, Units of membership interest in MOR will be exchanged for shares of Parent Common Stock at an average exchange ratio of 0.9709.

Source: Page 13 of
https://seekingalpha.com/filing/5198255



So MOR's exchange rate is .9709 and ours is .027, which adds up to .9979. Or, basically, 1. I guess that's the OS.

So, they'll have 12.5M shares in the exchange. Based on the latest dilution at OTC, we have 120M shares rounded up (because still some convertibles out there), which would convert to $3.2M. But since we've been a dilution machine lately, let's just round up to 4M.

So, that's perhaps 16.5M OS in the new Forion Nasdaq company to my understanding. $13M in cash in MOR's coffers noted above, but I guess $3M is allocated to other stuff and when the dust settles, they expectx $10M. Not so sure...

So, 16.5M OS is less than KERN's true fully diluted OS. KERN really is toxic right now. I think in theory to my understanding, we will kill the toxic brew here. Will actually have $10M to work with. And KERN burned through 14M this year. They have only ended with more cash because they took on huge debt and had warrants exercised that fleeced common holders, which is par for the course for a deregulated SPAC. And I hope, and expect, all the fleeced sheep were the ones that voted against themselves.


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Rough Math Check of above:

My OS estimate of 16.5M shares notes can be checked on the percentage ownerships of MOR and HLIX: 72% for Forion would work out to 11.9M shares whereas they converted to 12.5M shares in my rough math.

And 23 percent for HLIX's cut would come to .23*16.5M= 3.8M. Very close to my 4M for rounding up for their toxic financing to fully dilute us.

I think an OS of 17M, just to round up more, is a nice safe figure for FORION to go by. With $10M in cash when it comes, minimal capital requirements, and something above $3.00.

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Or anther way to home in on the OS using the above figures:

.72X=12.5M

X would be the total OS of Forion, which comes to 17.36M. That hits right on target for my rounding off for HLIX's toxicity. So that means to solve for HLIX's shares for this formula:

X+12.5=17.36M

X = 4.86M. God, HLIX is toxic. That should be fully diluted as I understand it. That's even worse than my rounding to 4.

So that means, 17 is a good, safe OS to go by for FORION I think.

Somebody check my math.

In conclusion:

At today's price of .20, that would be equivalent of a Forion market cap (based on 17M shares) of $2.80ish in theory and to my understanding. And they can't open on Nasdaq at less than $3.00, so that corroborates Zac's good option price of .21 cents as I saw it in my earlier thoughts. Not good for $3.00, but I don't think they plan on opening at $3.00 and be in default at $2.99.

We'll have to see what this all looks like once the dust settles. It does feel like .21 is a good price. And of course, that is assigning 100% of Forion's hypothetical market cap at $2.80 to our price today at .20. And HLIX would be only 28% of that company. But to assume absolutely nothing, the other 72% comes with nothing but cash, software (potentially with patents), zero revenue, and some allegedly good directors. That's all I have to work with. Can't assume any revenue I don't know about.