Apr. 21 at 10:52 PM
$BRQSF
Iāve been saying this for a while. The big restricted stock grants were strategic, not a red flag. We are not heading for a simple wind-down.
Been focused on faith over fear and signal over noise. The noise was all the āreturning-capitalā after āpadding their own pocketsā talk
The Signal was:
ā¢ They chose stock over cash even though they had
$14M+ in the bank, preserving every dollar of the cash pile.
ā¢ Issued in November, very unusual timing for stock compensation. Shares unlock around May 19.
ā¢ Massive size (roughly 10M shares to Pat + 9M to Anthony). A clean tender would minimize dilution, not create a ton of it.
ā¢ Pat + Anthony now control ~43.5% of the company.
ā¢ All-Asia board refresh, suggests a new geographic focus (not a wind-down move).
ā¢ Kept the shell very clean with compliance upgrades.
All these moves only make sense if they plan on using the cash, not returning it.
Time will tell
