Call me a cynic.
Yes, Wolk seems to be on the hook for the $$$... maybe. I haven't read the contract, as other have noted...
I DO see the result of the lack of performance to date, and I DO see that there are now TWO direct taps into the root that supplies the future value that didn't used to be there... and I want to know who placed them there and who benefits from them... before claiming you can ignore the implication of them along with the FACT that they reduce the value that will flow to a share.
Period.
Did Wolk hold out on the $$$... to enable driving those taps into the root of the value for his benefit ? Or, did others drive those taps as a result of the delay, so that they hurt Wolk as much as other shareholders ? I don't know.
I'm not making a statement about the relative value of LNGT vs the share price, now. I'm saying I can't determine a proper value of a share now, because I don't know the terms of the new deals... know they limit future (reduce present) share value, and don't know what the limits of the risk are from having MORE deal making happen before October rolls around.
I see a benefit from additional clarity on the Wolk timeline.
I see new certainties in the JV, and new uncertainties that we know WILL have some impact on value, without knowing what that impact IS... leaving me unable to quantify the impact.
I'm left with: ???
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