@0xMarcB What’s the breakdown of cash vs $POL and lockup period? I think this is highly relevant given the communicated focus on efficiencies and alignment
@ONLYINFLORIDA20@realsheepwolf cant ignore 43m in debt. 2m net debt position. also ceo can convert class v to a shares at any point so that should be included in the float. 62m shares outstanding per their own presentation. unlikely the other 62m shares are in the money. so market cap is 160m thereabouts.
@valwithcatalyst@EricTheUmpire Company is super controlled by Brandon directly and indirectly (multiple share classes that convert) so I don't think there is any chance of successful activism here. And he sold $5M of his own shares in a secondary a month or 2 back.
@HODL15Capital@metaplanet@fold_app i don't think $BTM has 12 BTC "In June 2024, the Company announced plans to allocate a portion of its cash reserves to Bitcoin. As of June 30, 2024, the Company had Bitcoin with an adjusted cost basis of $0.1 million allocated to its treasury strategy within Cryptocurrencies..."
@Fry_Finance@NasdaqExchange@Forbes fidelity. but recently there havent been a lot of shares to borrow and the execution hasn't been great probably because they dont trade on FINY or allow for half cent denominations
@Fry_Finance@NasdaqExchange@Forbes What a bad look for the industry, nasdaq, their lawyers and bankers. Big f’ing clusterfuck. Still trading at 100m mktcap so lots of downside still. Just can’t control when the day of reckoning comes. Borrow rates are reasonable at 7.5%
@Fry_Finance@NasdaqExchange@Forbes tailor made for a sec whistleblower claim? not sure if the violations are securities law violations though but those claims pay out bigly
@Fry_Finance@NasdaqExchange and must have misrepresented these financials and state of the company with their money transmitter reports that they need to attest to quarterly
@Fry_Finance@NasdaqExchange or they are ok with the fraud since they stand to take it over when it goes under? though there def isnt 50m of assets to be liquidiated. the kiosks are prob worth 25-30% of the purchase value and that makes up their whole asset base.