if you understand that this company became public for the purpose of raising capital, and you view the convertible debentures as equity verse liability, as i do,,, then with the current PPS value indicators (providing the PPS is above $10), the notes can be renegotiated. A homes equity is typically seen as the asst, where here, the shares held in warrant as collateral are the asst..
So, if PPS is 13-18-25.. that's equity of 3-8 and 15 per share.. The 2010's are 8 per share, I think we can safely say, them 8's are in the bag and long forgotten by the time they are due.. the 10's too..
So it's not the EPS where this company gains value, it's the value of the PPS.. If PPS is 20 when the 2010's are due, do ya think the company is just gonna hand them over?? "Here yaw go loan consignor, 100 million dollars worth of shares for loaning us the 40 million, on top of our intrest payments" LOL. no sir.. that aint never gonna happen..
renegotiate some other loan, of a possible 30-50 million.. and not one single share dumped into the float. Except for the 1.50 million or so shares, pope and Ashly bought directly.. IF Pope and Ashly execute.. If, .. It's a tiny float, big PPS movements, year after year so long as this company continues on its path..
maybe even one day they'll pay dividends,.. and i wonder if there's some china law that dis-allows this company from paying them, which may change in the future.. I do not know but for now, the PPS is the leader.
Corn-fused-us Long-vestor ancient saying: Patience and small movements keep a steady course.
I don't have a humble opinion!
At's ma boy!
