These last two deals fit the narrative the CEO has maintained for a while now.. planting grains of sand into many oysters. They don't need cash at all, so if the long-term value of an equity stake is better than an up-front cash payment, it makes sense to take equity. Hard to say when any of these deals may bear fruit, but I really like that this company looks so long-term. It fits my investment profile too.. which is buy & hold for multiple years.
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