The third Amendment!
Following the report from Q1, this recent news is somewhat of a relief. However, I do wish they would be a little more specific in their numbers. You almost need to be a CPA/CFA/Esq to decipher between the lines.
It appears $.88 to $1.46 is the current possible range.
130 million less GATX, less Barclay, less 1 million deferral, less unclean licenses over 4.225 mil, divided by (45,700,172 common + 10,119,614 preferred ) or 55,819,786 total shares (plus of course any warrants exercised) up to a total of 80 million shares total possible. Wow!
The low appears to be 130 mil less (GATX 27 mil + Maximum Barclay = 32.5 mil) = 70.5/80 mil = .88*
The High appear to be 130 mil less (GATX 27.5 mil + Barclay (15 mil at present plus possibly 2 mil per QTR, so let's call it 20 mil + 1 for deferral = 21 mil Barclay). Therefore, 130 - 48.5 = 81.5 mil / 55.8 mil shares = 1.46* or with full warrants 81.5/80 = 1.02*
* Does not take into account unclean licenses totaling over 4.224 million per 3rd agreement clause.
It looks as though MOOR is still a good buy at .55 cents!
Best Regards,
Jim |
