This could get interesting folks! They just may stiff one company with the debt, let it go BK, and save the other ship (let one sink, and leave one floating?).
Doubt I would put my faith in either company, or executive at this point, but if they float Terra as a separate company, that splits the value into two public stocks. Current shares works out to about 141 million shares COIN, and market cap would be 1/2 of prior ( 1.5 million listed on Fidelity).
Not sure if the annual sales (3.63 million dollars) are representative based on the last 2 quarters, or if they include some of the ex-NJ facility sales (which is no longer), or last Terra sale ($1 million dollars late last year?) from last year?), sales the last 12 months. But the market cap (based on .01/share) is now less than sales.
If you split the 2 companies you have each one being bought with a market 1/2 of the MC today (1.5 million based on .01/share). I suspect the plan is float Terra as public entity, get the share price way up first (R/S #2 down the road), sell convertible debt, and then if the company fails again, convert and dump the new Terra shares.
The CEOs (Waste water guy, Ed, and The Terra guy) and their bloated $1 million dollar salary still needs to go for this POS to ever make money and grow organically, and Terra needs a business plan and sales that will work, which they do not have yet.
I am watching the fall out I predicted, but no soon enough :(, from a safe distance right now. If this gets to .001 I just might take a small position.
Ambition with out knowledge is like ship in dry dock. Going nowhere fast!
