Ann: Ceasing to be a substantial holder, page-10

I am going to use BS to represent stock from bond conversion, WS for warrants bought stock. Fist only BS was sold. First surprise is that it sold for 11.25C. $37.500M / 333M BS shares. This gives buyer quick gain and if sold, profit, while giving MTK little for the time the money was invested. This raises 10C a share with no taxes because it is purchase price. 1.25 C of long term gain. MT K is not hurting, there is plenty to be made from warrants. No warrants were sold. I still think MT K plans to make allot on warrants. There strategy seems to be sell BS to raise cash with little tax impact. Hold WS for long term gain.

The four Mt K funds own 67% of total bounds and Warrants. 150M / 225 M.
At this point I think it is clear that those represented by Mt K just want their money no equity.
I think the buyer(s) plans to sell but I have no proof. If he sells these share over 6 months at an average of 14.25 Cents That 3 C profit. On and investment of 11.25 0r 3 / 11.25 = 26% now if the sales occur evenly over 6 months that means the average share was held for 3 months. 26% X 4 is 104% annualized rate of return. That is fantastic for anybody. So I think we will see these sold as fast as possible without killing stock price then the process will be repeated. We may see MtK do some more WS fairly quickly to have the long term clock started on as many WS as possible. Even selling at 12.25C / sh gives buyer (s) a 35% annualized return.

IF it takes 6 months to dispose of 333 BS Then all the BS would be done just before Sept 2020. 6 months is just a number I made up. We will have to wait and see.

Sure wish we see some reported activity by others so we could see whole picture. They may be waiting to see how Mt K does then do just $15M of the BS. Since there are over 4 B shares now this would keep them below the reporting threshold while actually doing much more than MT K on a % basis.