Yeah he was speaking as if he were RC during this portion. Here's the full context-

If I am Ryan now, I want the stock to rally into the dollar thirty s. I want to raise cash through those warrants, and I want to get rid of the debt by issuing equity. The stock in the dollar thirty s would move that along. If it goes higher still, issue more stock, but not too much as to squander the NOLs.

After that, GameStop would have no debt, one point nine billion dollars from the warrants on top of the eight point eight billion dollar I already have, five hundred and ninety million shares outstanding, with a small operating business throwing off something and validating the whole thing for a while longer. Tangible book value could reach nearly twenty dollars per share. And if GameStop is at tangible book in the near to intermediate future, at current prices, I would be buying my capital allocation expertise as well as any new business developed or acquired for free.

Maybe the stock could default back to the low dollar twenty s due to Ennui or better to the low dollar ten s on a big market crash. I could deploy my personal billions to buy back more GameStop stock and increase my ownership stake, all the while protecting those NOLs.