er, a few holes there churbro.At what point in richman’s logic...

er, a few holes there churbro.

At what point in richman’s logic would mmr be investing further in Advent??
item 1 - bph is controlling advent. No real effect here on valuation unless NOPTA say “get lost”. No $ needed from mmr.
2. Bph needs to find funds to support advent to achieve this. Cost some $300k. No input from mmr.
3. if Advent’s achieved the above, what valuation is then placed on all the holding companies? All advent shareholders likely to get diluted pre drilling. BUT, mmr can choose whether or not it agrees with the new value proposition.