I agree there is no real value here right now and after the recapitalization the company will have $7.6million less the amount required to payoff old note holders, accrued expenses, financial filing costs, etc. When the company takes of $7.6million from this hedge fund they are going to expect $7.6million of value in return. Then TGRR spends a couple million to bring itself current on the debt and expenses. Now the company has let’s say $5.0million in cash and the hedge fund was given $7.6million in some form of consideration. How do the current shareholders expect to gain value in this scenario? The hedge fund it going to want nearly 100% of the future value of TGRR if they are going to invest $7.6million. You have to ask yourself why they wouldn’t just start their own green energy pot company where there isn’t legacy debt and failed management running the business. The only reason they would use TGRR as the shell is they want to manipulate the common shares on the open market to make millions in profits. They have no interest in TGRR turning a profit. They simply want the ticker so they can manipulate gains beyond their initial investment.
All that said - I currently own almost a full position in TGRR and am considering finishing that position if I can get my buy order executed this week. There may be no long term value here but investors are going to chase when the next set of news is released.
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