RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Xanadu gets $40 million of the Fed Govt fundingSelling 01/Ironcap is a nice fantasy.
There are roughly 100 million shares outstanding (so hard to keep track given the numerous private placements and options)
Cheung owns more than half?
Currently he enjoys a $350k annual payday for little or no work.
If the multiplier in tech is assumed at a generous 10x annual earnings, 01 would need to have annual revenue of $20 million in order to make a $200 million sale remotely logical to a buyer.
That's $2 a share.......
The questions then become:
1/ Will 01 EVER have 20 million annual revenue
2/ Would ANY company pay a 10x valuation to acquire 01
3/ Would Cheung settle for $10 million in his pocket
My guesses are, never, unlikely and maybe.
Regardless, 01 shareholders seem to be of secondary concern to Cheung and more disappointingly, to Chairman Train, who seems to have more than willingly settled into life as a toothless COB.
Let's see if the relationaship with Thales actually bears any fruit. That will be the true litmus test for Cheung's grandiose claims about Ironcap.
Hopefully, he can PROVE that he has propriatary rights to the patent.....and that he didn't just tell his brother about it over coffee afew years ago.