We all know that one or more of the large holders in this company are reducing their positions. The Chairman has a few he might be getting rid of, as well as the parcel held in a fund he controls.
My issue is this. at .003, this company has a market cap of apx $6.6mm. Around $3mm of that is cash. Add the underwritten placement of ~$4mm, you get a $10.6mm company that is ~$7mm cash (66%). Growing sales, global presence, positive market dynamic, no debt, a track record of building businesses that get taken over, some huge clients, first mover advantage in many ways. All of that is being valued at a net $3.6mm.
Why? Is it because of a few Grillionaires whose holding is of little consequence to them and has subsequently been sold down? Or are the promises and marketing strategies all just pie in the sky?
Am I missing something, because it looks like I am in a minority in thinking that this business is a good thing?
Ann: Proposed issue of securities - ADS, page-2
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