That is my point...
He also can't buy those millions of shares at 15 on the open market... any more than he can buy them at 2.
I don't think it is a bad deal as it was negotiated. LNGT doesn't just need a big new shareholder with a whole lot of shares. LNGT needs to get a large pile of new $$$ along with a large new shareholder who adds value to the organization as well as to the corporate bank account. I think Wolk meets that need. Adding the new $$$ will make the company more capable and worth a lot more than it is without the $$$... so the deal and the price in the deal aren't the issue...
The issue is that the deal hasn't happened. No $$$ in the bank. Now we FINALLY have a fairly clear picture of the issues.
Meanwhile, the underlying value of a share, whether yours or Wolk's, has been eroded by the necessities the delay created, and by the additional entropy the delay introduced. Not good for the share price, not good for the share holders, not good for Wolk.
The ONLY beneficiaries are the new share holders who bought shares AND a percentage interest in the profits...
Who might that be ???
We don't know the real impact on present and future share value the deals have... but we know it is "less"...
When we know how much less, then we will have a better bead on where share prices are headed next, and a better bead on what the revised trajectory, given success in Wolk's financing, ought to look like. I'll wait to see how much less "less" is.
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