This is a one of a kind situation. At this point, people are just trying to grasp exactly how the mechanics of this deal will work. The idea that “company X went from .20 to 20 after doing the exact same thing” is just way too simplistic for anyone that has looked into that example. That merger basically just brought in the reputation of a well known CEO, plus cash into a struggling oil company. IMO not much has changed over there, and there was a small 1 for 1.3 rs.
TGLO is a clean slate, with NOLs. Delfin/Fairwood is a sleeping giant with monster assets and the only permit of its kind in the US. The CEO is a legend in the industry, vs the ex restaurant owner trying to run an energy co that the other has.
Carl Ichan is heavily LONG into the premiere player, Cheniere, and that is a factor to take into consideration.
Think about that for a minute. This is an example of why I think Delfin acquired shares long before December. My guess is that they have at least 400 mil.
So we know Egan has half of the remainder. We know he didn’t just give TGLO away for 25k. What does he want for those 20 mil he’s still holding?
BTW in 1999 shortly before he realized he had to fire his dynamic duo CEOs from Cornell that were flying the company into the ground, Egan dumped 3mil shares at $20 per share. He recovered his initial 20 mil dollar IPO investment plus made a little money, 40 mil in chump change.
So now what?
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