Oh, it's a smart bit of work. They have a good chunk of money in the bank but are maybe going to pay out $2M ($1.5M in the short term and maybe about $150K per year for 3 years); they can keep the show going and continue to draw generous salaries while the money holds out. I think the market caps in the settlement are outlandish and they'll wind up raising money at much lower levels and wind up doing that complicated pro-rata thing.
The amount of money taken off the table if they do raise isn't bad either - after seeing how much got taken out of ART it seems that investors are inclined to be philosophical when much bigger amounts are moved off to destinations that don't grow the company.
It'll be interesting to see the next report. The Uber deal announcement isn't bad but deals get announced all the time that don't add up to anything material in the long run, as any follower of GSW likely already understands.
GSW Price at posting:
29.0¢ Sentiment: Sell Disclosure: Not Held
