source avatarZynx

Share

This is just not good enough. 1) There is still no commitment to roll back the 273 million shares the anti-dilution clause created. By the company's own account that provision amplified dilution, obscured the share count and raised concerns about capital-raising decisions and option holders' interests. All past tense. The fix is future-only. 2) Confirmation that the CEO of Metaplanet has a significant stake in the parent of MMXX, a vehicle acting as lender, bondholder, share-lender to the dilution counterparty, largest shareholder at one point, and trading the stock throughout. A reminder that those 273 million shares are worth ~$500 million today and almost $3 billion at last year's highs. What's frustrating is that rolling it back costs them very little. Management would still hold the original 46 million shares, worth over $80m today, and the company could apply a fair incentive scheme retrospectively for the two and a half years of work. Nobody is asking anyone to work for nothing.

No.0 picture
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.