It's a pretty reasonable position to take.
Its been over 3 years since TTT launched. Rather than saying it will be a long slow road to commercialising its IP and setting out a plausible plan to achieve that goal, TTT made many announcements that it already had commercialised and that sales had been made. Of course this was simply not true.
Based off the last 2 JV announcements it also appears that manufacturing cant be done in the TTT factory itself. Both JVs anticipate a new manufacturing facility be built - meaning even if successful, production will be years down the track.
The company still lacks a permanent CEO. How long has it been? 6 months? It still has a bloated mgmt team that are paid huge overs. It has a new Chair that has experience in weapons manufacturing but not 3D printing. Interesting that his previous tenures have only been around 1-2 years in the last couple of jobs he has had.
So with that context the question is what value would you place on the company? Would you pay $100 mill for it? $50 mill? Those figures sound very high for a business that doesn't seem to have a strategy for commercialisation beyond "we will target... industry".
For my mind, maybe $10-15 mill as a long shot bet for the company would be reasonable, but that would involve taking control and removing the dead weight mgmt that care more about the production values of their powerpoint preso than actually building a viable business.
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