@strauss I just had a quick look at the quarterly over the...

@strauss

I just had a quick look at the quarterly over the period whereby they spent over $1.5M or so, it must have gone somewhere. Hence why I also said happy to be corrected ...

Either way, let's not sugar coat it, this IPO is a disgrace. SOC own 100% of the asset, they will then retain less than 10% of the new entity, with a holding worth just $500k , escrowed for 2 years

The implied market cap is $12M excluding options, are GTT adding $11.M of value by raising money and floating this in a separate entity ?

My point is, "if" which I highly doubt they can, if they can successfully raise $3.5M at an insane $12M market cap, then surely they are stars and they could have sold it for $1-2M cash

Which is better to SOC ?

- $500K of stock they can't sell for 2 years; OR
- Potentially $1-2M cash at a time when they need capital and are at all time lows ?

Hudson all over again, look at their string of companies ...

This is why I also don't believe GTT believe in the assets. If they did, you would be flicking the Li for as much cash as you could, hitting Halls Peak hard in those deep conductors, avoiding any further dilution and trying to get a payday out of massive rerate in SOC

Instead, they would rather get a set in a new entity, rake fees on the IPO, give SOC a measly 2.25M shares they can't sell for 2 years and have it face further dilution