"Do your DD, Mike Tomas brother is a Managing Partner of Burger King South America, Mr. Tomas is rich, rich like do not have to be a CEO of a broke Biotech rich because I closed a $1billion telecom deal early last decade"?
So, based on that entire post- my logical question is WHY them doesn't "rich rich" Tomas and his brother (rich) and a few friends just buy out BHRT's debt (it's only about $13 million or so) and then take the company private or something of that sort?
Why would they have diluted the shares by almost 100% now, in under 8 months to pay debt, salaries, etc if these "Rich" people are all over the place in relation to them and could buy them out- especially back at one penny for under $20 million ,debt and all? SERIOUS QUESTION I'm posing to you?
Look at it this way- if you were "rich rich" and the CEO even made a promotion video saying this is a $1 BILLION opportunity (his words) - then if you were a savy, rich guy with a rich brother, rich friends- wouldn't you step in and buy it for a pittance and then reap the $1 billion prize down the road? Northstar now controls all shareholder votes- so they could approve the buy-out with no common shareholder input?
See how these things sound pretty good and interesting and all- but when you think them through there are gaps, things missing that don't make any sense. MANY companies today are being taken private as the main stakeholders feel the market is not valuing them fairly, the SEC reporting and laws are a huge burden to their freedom to run the biz their way, etc. Best Buy being a recent one and DELL, a mega computer company where Michael Dell put an enormous stake of his own net worth on the line to take it back private.
Any speculation InvestorStem as to why you think/don't think Tomas and "friends" haven't just put together the money and bought this back and then could clean up the debt/books and reap a much larger reward for themselves? I'm curious as to your thoughts? Seem logical to me that if he's that connected to money- it'd be easy to do. A typical scenario might be assembling 10 to 20 high net-worth people who put out $1 or $2 million each and raise say $20 million and just buy-it-out, as the street term says, "take it private"? Thanks.