The Good, The Bad, and The Ugly - Cast Your Vote
The Good:
None of us really knows the time required to close the Series X Debentures. In spite of the infamous "handful of days" comment that was supposedly referenced at the Annual General Meeting, the time frame for the Series X Debentures may very well not have nor be in danger of expiring. Things are progressing along as everyone had initially hoped and eventually we get the notice of closure. In this scenario Mint will get their money. They will have funding to fully integrate and be competitive. There will be no dilution and with the small float, the price will quickly return everyone in the green.
The Bad:
Series X Debentures have been off the table for awhile. Mint knows that the only hope for funding is for a Private Placement, however funding for companies even with robust financials is difficult these days, and Mint has challenges that would scare off potential suitors. Mint's plan to make themselves more attractive is to unleash two unnecessarily negative press releases in hopes that the share price will be driven into the ground. In this scenario Mint can now attract either inside or outside interest because with a low share count and a ridiculously low share price, control of Mint can be had for a small fraction of the 35 million dollars that has been invested over the past two years. In excess of a hundred million shares could be issued in a Private Placement which would effectively bury most original shareholders for a long period of time. If the average share price of most current shareholders is approximately 10 cents pre-split, and a hundred million more shares are added at 10 cents post-split, it is not difficult to see that those hundred million more shares would achieve ten-bagger status before any of Mint's original shareholders who now hold approximately 27 million shares, could break even.
The Ugly:
Mint can not attract any new investment. No institutional, private, or retail investor has any interest in investing in a company, who after two years of doing business in the prosperous MENA Region, has grown into other countries but has no significant increase in the number of cards under management. This is a business where success is judged by the growth in the number of cards per quarter and Mint has failed. The cost of establishing a presence across borders has handicapped Mint by exceeding the revenue generated by expansion into those new markets, saddling them with constricting debt. With no true broad spectrum vertical integration across the network, Mint will survive for now but being unable to secure financing that would make it competitive, Mint will continue to lose market share until business becomes economically unfeasible. We lose everything as Mint becomes insolvent.