Reorg plan - VotingAs many on this board know- I've been a long time investor in HWO, bought it at the Pandemic lows, sold some and still hold a substantial portion.
Management and board has done a pretty awful job in communicating the value proposition of the PNG business to the market as well as with their reorg value creation plan.
It all boils down to what valuation the independent study generates which is never a good thing. The risk of significant undervaluation and consequent potential lawsuit is high.
A business which generates $12-$15 million a year in EBITDA and has an immediate roadmap of additional deployment with NO competition should be valued at nothing less than $100-$120 million. I have a feeling that this entire proposal might not meet the 70% shareholders vote and can get shelved. Just my 2 cents.