Greenspace Brands Inc V.JTR.H

Book value is 0.37 per share

[NYX2017]

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[GreekRocket36]

Calculation please?

[Jameskemp]

Sadly this is not the case. JTR will be lucky to fill this .10 .20 PP. Really bad play waiting so long to do a PP could have done one 6 months ago before the review much higher.  Instead they paid 6 months of consulting fee;s to be told to do a PP.. CRAZY and showes how little  MATT understands business. He is an idea man he made a cool idea and sold it for a lot but now trying to

[NYX2017]

$60 million and more in sales. EBITDA positive. Growing business. And tou think it's not worth 0.20?? I'm sure it will be at 0.25 when they will announce next Q results and 0.50 later in 2020.  

[Jameskemp]

Firstly this is a terrible deal: The Debt Restructuring is being arranged by the two principal non-senior lenders, Primary Capital and MillRoad Capital. Under the Debt Restructuring, both principal lenders have agreed to extend their debt terms by 12 months, amend the coupon rate to 12% per annum, and accrue all interest in lieu of payment in the 12-month extension period. Primary Capital has

[NYX2017]

Are you a shareholder?? I doubt it.   

[Jameskemp]

I was.. Also how can you say the price goes up after the PP? The float is being doubled so right there that is a 50 percent price haircut from .10. The market cap will not double once a major pp is done it will go to where it was before the PP which will be at .05 Sadly this is  a sh1t spot but what can they expect when they double the float and wait months pay a ton to consultants then

[Jameskemp]

Really the only option will be to sell another brand which is basically selling off the company slowly to pay off debt but does nothing for shareholders. they can sell a brand today for the current market cap and the market cap will not move.  They tried that already and it did nothing for the SP. I would not be buying this above .08 that is for sure!

[NYX2017]

So you are not buying because it's only going up. The fact the float increases has no impact on the value of the company after all. Just check the trades before the PP was announced. Some people are probably planning to take over the business. Matt still owns 6M shares and I'm sure he will be adding.They could sell a single brand easily for $20M today, but it's worth more than that

[Jameskemp]

Reality Check: MeatBar is a failure (no one is buying them) - even the BOD hate the name. GoVeggie was a huge flop they over paid,  and the reason they are in the debt pain they are in now. The brand is not paying for itself by any means. = failure Cedar was admitted to failing in the CC.  as no one wants press at the moment.  Central Roast is the only winning brand right now..

[happyhunting]

Agree with all of this - someone at last talking some common sense on this board.  If this PP, on terrible terms, plus a debt rollover at more onerous terms, is the best they can do at the end of a 6 month strategic review, that bodes very badly!  It's laughable that people on this board continue to believe that this business, or any part of it, can be sold for 1x sales - they surely

[Jameskemp]

Yup, the company is in trouble. My bet is they can't even fill the full 5 mil.