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Let's look at the latest mhtx 10-Q for

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ssc   Tuesday, 11/17/20 09:30:47 AM
Re: rustydog62 post# 8495
Post # of 8617 
Let's look at the latest mhtx 10-Q for some facts about their ibx holdings.

mhtx once owned 31% of ibx and had a seat on the ibx board. Now they own 6% with no seat on the board. Ouch.

mhtx was offered options to buy ibx shares to offset the massive dilution when ibx price was in the 3 cent range. mhtx declined the offer. ouch, ouch.

But not everyone suffered. mhtx found a way to let certain board members loan money to mhtx and prepaid the interest on those loans with ibx stock at $.015/share. At current ibx price, those directors already recovered the entire loan amount just from the interest payments. Great news for insiders, triple ouch for mhtx shareholders.

Of course, all the cash from the ibx spinoff is gone. And the remaining 2 $300,000 annual payments for the metals deal will be more than consumed by the $200,000/quarter mhtx burn rate. Ouch, ouch, ouch, ouch.

Bottom line - while ibx is trying to climb back up to the original ipo price of 20 cents, mhtx doesn't stand to benefit much from that move. Even at 20 cents, the ibx shares mhtx owns will equal less than 2 cents/share for mhtx shares.

Add to the manny and marv highlite archives.

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