Mar. 9 at 7:21 PM
$BCAB I am loading up between $.15-20/sh. No debt, 70% workforce reduction, and expectation that they have
$3-5M in cash should be enough runway for Tungsten to run an orderly auction/sale. Distressed, this is worth
$50M. I hope they can get
$100M for all assets over time, which is
$1.25/sh, or 5-7x. ANY sale of ANY asset will be sufficient to move the stock back toward
$1 as it will indicate momentum and value. If there is a path toward funding the Phase III trial through the SPV, this is a
$2/sh stock. But base case, this is $.40-50 IMO. NFA/DYOR
