Quote Originally Posted by minimoke View Post
Possibly also worth pointing out that if the KSL transaction doesn't go ahead the IPO will not proceed at which point I think we can say it is goodye to MJP.

So nervous times for existing holders. They will be looking closely at any potential insolvency event. At june 2014 they had $700k in cash and $500k in current liabilities. They have incurred costs between july 2014 and January 2015 with no apparent income. IPO costs have just gone up but offset by a $1m loan from KSL.
I wouldn't be so concerned about insolvency as delay. In my view the MJP has value but it is "so very scary" for investors that they cry about it and run away.

Still bullish. As minimoke once quipped, "I concede that time will tell."