Hey amb005,
According to the Dec-31-20 report, they have 55,557,994 common shares and 17,083,333 warrants (exercise price being 0.06 CAD) in Harvest One.
Given this is the case, my HVT estimate (purely reflecting the increase in share price since Dec-31) may be understated given:
55,557,994 shares = $27.2m CAD
17,083,333 warrants @ 0.06 CAD = (0.49-0.06)*17,083,333 = $7.3m CAD (doesn't include valuation for time-value or volatility component since these are derivatives).
This takes the total CAD value to roughly to $34.5m CAD, which is around $35.2m AUD. In my prior post, I had not taken into account the vast increase in the value of the warrants, as I used the HVT share-price as a yard-stick to estimate the new value of the total holding
Given this is the case, you could argue that my estimate is a conservative estimate of current NTA. When I get some more time, I'll have to go back and rebuild my old model, which takes into account number of holdings, time to expiry of derivatives etc.
I hope the above makes sense!
Cheers,
CappMan
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