GM bilvo nice to talk to you here. Thanks
Lets see its pretty obvious something is brewing behind the scenes. Never seen trading like this last week or so. Going to wait and see how this all plays out through voting and conversions.
My take on deadline...
June 30th is coming Hopefully Mercer gets it across the finish line and isnt trying to screw around with the deal. Hey no matter deal goes through next steps will be massive valuation and potential distributions. If not then TMNA will get back all its assets. If deal conversion default then TMNA Pref B gets 27% of Delaware Sub which holds Tingo Mobile and Food.
Pref A would have TMNA get $666,666,667 cash or in comparable assets. Since TIO doesnt have that cash, and I doubt they would be able to withdraw $666m from Tingo Mobile considering legacy MICT has no cash like that, then according to TMNA latest Q, shows valuation of assets at $1.2B.
$666m divided by $1.2b asset valuation (from latestQ) is another 55% stake in Delaware Sub.
Add the Delaware Subs stakes together 27% + 55% = 82% assets regained. Dont forget though that TMNA already owns 19.9% of TIO shares as it stands + 82% Delaware Sub = 101.9% of Tingo assets directly and indirectly through TIO shares.
If it does end up like that, then we will have to see what would happen. If conversions and Nasdaq approval goes through, then we will have to see what next steps TMNA board takes once TMNA owns 75% of all of TIO.
Just my take, but like everyone else in this going to have to wait and see.
