Looking at the presentation today, note that they are pushing back the prospectus by a few days which is fine. What caught my eye was the implied pro-forma valuation at $0.20 on page 4 of the presentation.
This seems to suggest that the new IPO price will be at $0.20. Anyone have thoughts?
Also, whilst I do not doubt the future of bitcoin and crypto-currencies and think management is amazing, the current price of MEJ of $0.059 at a 5.715:1 share consolidation implies a premium of almost 70%.
Before the multi-bagger crowd comes out (yes this does have multi-bagger potential), this is a pretty hefty premium to be currently paying without having seen what the financials are currently like.
Thoughts?
mej prospectus , page-26
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