Oct. 14 at 4:37 PM
$GGR I agree with most of what you said, we just disagree on the likelihood. I think a take private offer became much less likely after they announced the funding and 20:1 reverse split for compliance. They will likely own over 65% of the business after this brutal dilution. And while taking it private would save them millions in compliance and fees it may trigger immediate loan repayments among other unfavorable effects which is less palatable when you own most of the business already. ( I think the stock price falling south of
$3 a share is fair given the expected dilution).
As for the health of the business the debt is sizable but the interest is manageable thanks to the Taibor rate. We have a battery network that would cost north of a billion to replace or replicate Allen Ko of KYMCO was the face of ionex (#2 swap network) is out as chairman - cap ex heavy electric focus may be why. The road to profitability is greased with years of tax free profit thanks to a decade of losses.
