RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Heres what a default in debt payment looks like. Opt,
I'm fairly new to this board. I'm merely trying to understand why you and all of the other common equity shareholders are so bullish that the FIRE share price will be north of $1.18 by October 2021 (that's the share price that equates to return on FIRE.DB if it matures at par).
Johnale makes a compelling argument that revenues are about to accelerate and so is free cash flow and they won't have to raise new equity. I think that's going to be hard to do by July 2021 (which is when the bank has to approve of their plan for the converts) but I hope he's right.
I know I'm in the minority here. The market cap of FIRE is ~$100m and the capitalization of the converts is only $25m (and ~80% of those are owned by one fund). The money is definitely on the side of the equity.
I personally don't think the common can trade appreciably higher (say up 100% from here) unless the converts trade closer to par. You should be cheering if equity investors on the board switch into or add converts to their position because it will bring more equity investors off the sidelines as it will make it easier for them to see the world as johnale and maybe you see it.
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