Post by
Countrygent on Nov 28, 2018 9:52am
Market Cap
The Material Change Report filed on Sedar after the reverse takeover and IPO, rollback of shares, conversion of subscription reciepts etc., indicates to me: 21.4 million listed subordinate voting shares, 1.4 million class b proportionate voting shares (40 votes per share) and 168,000 multiple voting shares all owned by Kevin Murphy (3000 votes per share).
Buried in the disclosure are some options to management and directors, but I can’t find a definitive statement of the fully liquidated float. A portion of the pre-listed company shares rolled into the resulting listed company may also be escrowed.
in any event, it would be helpful if on the Company’s website they published a share structure summary including the fully liquidated shareholdings.
Guessing that up to 10% of the float can be issued as options at any time, perhaps another 2.2 million unexercised options?
So roughly 25 million shares trading at $24 gives an indicated market cap of $600 million.
Presumably the company is going to improve its website, especially the investors section, create an investor’s presentation that includes the share structure, fully liquidated market cap, liquid cash in treasury etc.,. and some pro-forma income and expense information so the curious tire-kickers can get a handle on the top-line financial standing and share valuation. Currently key financial info is opaque and difficult to access. Not great for supporting the stock and promoting its valuation.
Early going here. Good to see the Michigan real estate acquisition completing.
cg