Jul. 10 at 1:37 PM
$THH TryHard’s next move is now clear with the announcement of the reverse split.
The float math after July 21, from the filings, not the hype:
• EGM votes on a 1-for-10 consolidation Jul 21. Insider super-voting preferred = ~50% of all votes, so passage is a formality
• ~50.0M shares outstanding → ~5.0M post-split
• Registered free-trading float: ~4.1M shares today (1.75M from the IPO + 2.39M registered for resale in November) → roughly 400–500K shares after the split
• CEO holds 41%. Insiders ~53% overall
A sub-500K share float is among the smallest on Nasdaq. That means violent reactivity to news… in BOTH directions. These same mechanics took this stock from
$4 to
$55 to
$0.28. (But potentially more so at an even lower float)
Know the other side before you touch it: 2.25B shares authorized, under
$1M cash at Dec 31, and the proxy itself says the consolidation is partly to make room for issuing additional shares. Dilution isn’t a tail risk here… it’s the base case as the company needs cash and looks to expand / grow resulting in likely moves to raise more capital. Watch EDGAR for any F-1/F-3/424B.
Catalysts I’m tracking: EGM results (~Jul 22), split effective date + CUSIP change, Aug SBI MUSIC CIRCUS Osaka, Sep Hokkaido, Sep 7 Nasdaq deadline.
Disclosure: I’m long with a defined exit plan. This is my research, not financial advice (read the 6-K/A on EDGAR yourself).
