TCRI...accumulated a position.....
I accumulated some shares of the TCRI shell under the 15-cent level on Friday (lowest price I paid was 8 cents). I probably could have got my average (12+ cents/shr) down lower with a little more patience, but there did appear to be some potentially large buying interest lurking in the background. So I felt I better just get some shares now in case this stock moves/spikes much higher soon.
Since it seems reasonably likely that the future business direction of TCRI will involve crypto/blockchain/fintech of some type, the risk/reward around this 5-15 cent area looks pretty good to me. I find it quite interesting that there has been basically/almost no market reaction to the change in control that occurred roughly 2 months ago. Maybe there is some negative aspect of this shell that I am completely missing or not highlighting enough, but this sure looks like a pretty interesting setup. This could be a shell situation that has simply fallen off the radar screens, and will turn up sharply when more corporate developments occur or more shell investors start noticing it.
As part of the change in control agreement, eliminating that $50K convertible note held by Seng Yeap Kok immediately made TCRI a much more attractive shell situation. Assuming that new CEO Munaf Ali doesn't issue any additional shares for the remaining $300K debt on the balance sheet, the fully-diluted share structure would look relatively nice: 80M outstanding, 10M float.
Depending on exactly what Munaf Ali has planned for this shell (and depending on how tightly-held that 10M float is), it is very possible that TCRI might see the kind of valuations/performance that some other prominent shells/RMs involved in the crypto/blockchain space saw over the last year or so (APLD, ARAT, MTRT as examples). I don't believe it is unrealistic to think TCRI has a chance of seeing at least a $20/30M valuation on its legacy float shares, which would be a minimum of $2 per share.
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