Extension for sure. No leaks = no meaningful update =...

Extension for sure. No leaks = no meaningful update = extension.

You hit the nail on the head.

Its not about raising $90mil. Many companies float throughout the year and raise various amounts. $90mil is high but not uncommon.

But the issue when using an existing company(not just a shell or backdoor listing) is you have existing shareholders. You have existing management.

Its a blance trying to attract new investors, offering them a good deal and upside potential but also maintaining existing shareholder funds.

Part of the transaction involves 2bil shares to SOCA.

The issue with SOCA is it is private company, so it is iliquid when trying to sell part/all of company.

If MHL can tweakthe numbers, I'm sure they can convince SOCA to take a larger script portion and less cash. SOCA can always just sell/dump onto the market to return cash.

If MHL arent going down that path I would be disappointed.