Jul. 22 at 11:42 AM
$NAKA
I wish David Bailey would have come to me to raise equity. Why in the world did he value his company at
$1/share with no lock up?
According to the SEC filings.. they will dilute to well over 700M+ shares for
$710M cash. Then another 600M shares to acquire BTC Inc. or at least pay for their marketing services?
The business strategy overall is sound, but the stock’s price is destined for
$2-5 immediately after merger. Get ready for 450M shares to immediately flood the market.