GO QMNM ;)
Great post Nate. They are in BK and did not have enough authorized shares if everyone converted their debt. They aren't going to get financing unless they have the shares to back it up. If they want to get out of BK and expand, this was a must.
We didn't really expect true valuation until they got past the BK and if it he has to dilute some in order to do so, the net will EASILY be positive IMO.
And if they want to expand and generate more revenue they need the option of offering shares to be able to do so. They won't make it going "paycheck to paycheck" so they need a tool to get them capital needed to increase revenue/profits.
I seriously see this as a plus and not because i'm biased here. If he starts pumping shares in the open market for no reason, then i'd be worried, but looking back at the last four months and how they've accomplished EVERYTHING they set out to do, I truly think he wants this company to grow.
Just my .02 before I hit the hay.
Joe
PS (Go MMTE)
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