Good post. I agree that it is only realistic to expect delays and issues in the process. I don't agree with making a blanket excuse for issues encountered purely because it is a new process.
Managements handling of the issues encountered can only be fairly judged on an issue by issue basis. In the handling of individual issues, MHM's management have performed questionably.
What are your assumptions behind a $4 price target?
Regarding the binary approach, the potential outcomes for MHM are far more varied than a all or nothing outcome. There is a lot of in between, ie. the internetional expansion proves to be less profitable than imagined.
The issues I have with this approach is there is a lot of room for confirmation bias to influence the resultant valuation. Each individual would have a 'biased' view as to the chances of each outcome. imo, this is why MHM is a gamble - because so many variables are simply unknown and 'valuations' are based purely on speculation.
MHM Price at posting:
45.0¢ Sentiment: None Disclosure: Not Held
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