I agree this has become quite the waiting game. It looks like we now have a very real shot at beating the odds and becoming a true OTC success story. I plan to add more DD and analysis as we get closer to March 15th, but for now I can say that if the price stays down and dilution remains low, I believe it is worth adding at these levels.
We should end up giving about 70-80% of the Company to LAHO shareholders when all is said and done, but I'm buying MSSV for a couple of reasons.
1) Getting current is the main precursor to seeing a DA on March 15th, and each filing gets us one step closer. I'd expect to see Q2 2020 posted in the next few weeks.
2) LAHO shareholders (you and me included) WILL be included in the deal, and in fact that compensation went from 1,000 to 8M Series C Preferred Shares in Sept 2020. I do not expect these shares to be tradable until some time after the deal is announced, so initial run-up will be experienced solely by owners of MSSV commons.
3) LAHO market cap was at about $18.8M when halted, and on an upward trajectory. Although the final market cap merged entity is TBD, I believe it is extremely conservative to use that figure. IF $18.8M is used, and current MSSV holders get 20% of that (also conservative IMO) that puts us at $3.8M JUST based on MSSV's portion. At 4 cents, we are sitting at just over $400K, allowing for almost a 10X increase just to reach that low- end estimate. Will we be immediately diluted 10X to offset that? My belief is absolutely not. See (4).
4) In the latest 10Q (Q1 2020) it is clearly stated that over $5M of debt was restructured to ELIMINATE possible conversion into common shares:
"On December 7, 2020, we signed Debt Restructure Agreements to restructure the debt obligations with three separate lenders. The three lenders all had outstanding convertible promissory notes with our company in the aggregate principal amount plus accrued but unpaid interest of $5,379,624, and the parties have agreed to terminate the old convertible promissory notes in favor of new secured promissory notes and warrants to purchase shares of our common stock. We agreed to the new notes and warrants over the prior convertible notes because the old notes were in default and contained unfavorable terms on conversions. The new notes extended the maturity date, are not convertible into our common shares, but instead secure the debt obligations with our assets. The new notes have a maturity date of December 7, 2023 and an aggregate principal amount of $5,379,624 and, as an incentive; we have issued cashless warrants to purchase 15,000,000 shares of our common stock at an exercise price of $0.03 per share in connection with the restructuring."
The debt holders must have been led to believe that given our current projected developments (i.e. GSCG) $.03 per share is a heck of a deal!!
Anyways, considering the above, I believe MSSV to be a good buy. Incoming dilution appears to be minimal and I see a run to $0.40+ as a very real possibility in the next couple of months.