Jul. 21 at 3:58 PM
$TRON is the clean opposite of DFDV.
DATCAP currently reads approximately 3.26x mNAV and +2.30x Implied Productivity, with no debt and about
$9.9M of cash. Here, the open common-equity window comes from common-market purchasing power rather than senior claims inflating enterprise value.
There is still roughly 15.4% of tracked in-the-money dilution overhang. Exercise proceeds may help fund additional TRX, so that overhang is not automatically destructive.
The proper score is whether TRX holdings per current economic share increase after both the purchases and the dilution—not how many acquisition announcements appear.
Balance-sheet basis: May 8; market inputs current.
