RE:RE:RE:here's why no pop today on convenant reliefAhh, I didn't clue in to what your original comment was addressing. You raise a very important point, though I would add that the share price would need to be around $1.00 for the larger $10M Beedie convertible note to convert given the rate of 97 cents. Still, given Beedie is a pure financial player here it's quite possible that they attempt to partner with managerment/board of THNK to take the company private at a relatively low valuation. That would not be in the interests of shareholders unless there was a material deterioration in the business and further dilution to raise more capital would erode per share value.
Still waiting for news regarding two large SAAS related deals that the company has allegedly signed. As I understand it this new business was won in late Q1 and early Q2 but an official launch has yet to commence, which is why management during the last conference call said that their pipeline of opportunities is very mature and that we should expect to see announcement over the coming weeks and months. Given it's been over a month since the last earnings call it would seem that the launch date for those contracts continues to be pushed out. Investors will or at least should be laser focussed on what 2024 EBITDA will look like and without any further announcements its very difficult to have strong conviction on that number, unless management provides guidance and a strong rationale (something they have been loathe to do this year). Consensus is around $10M Adj. EBITDA and $8.5M non adjusted. One analyst has a 2025 target of $15.6M and they are the most pessimistic on the street. We shall see, but management so far hasn't provided enough evidence or support yet to give the street confidence that those numbers or anything bigger will be achieved which is why the share price is what it is. Management could also provide commentary that no new capital raising is required over the next 12-24 months assuming its pipeline and forecast targets are met.