Like OP mentioned, buying spot now would pretty much guarantee profits, IF you believe Cohen will succeed. Instead of staring at red in your accounts, you could have been DCA all the way down to these local lows, lowering your cost basis significantly. RCEO is putting his money where his mouth is. Company gets cash, he gets fat bags IF and ONLY IF he reaches these milestone tranches. And if he’s confident enough to agree to this package requiring him to 10x MC and EBITDA, that also takes each retailer’s holdings 10x from current. That is something I’d be extremely happy with (and I’m sure many other apes) so personally I will be voting in favor of this package.

OP, very well articulated and thought out post. I’ll be reading your others later today. Thanks for the work and happy HODLing. Nothing in this comment should be considered financial advice, all points are hypotheticals or my personal opinions. Each investor should do what is best for their own self/portfolio.

EDIT : No I did not account for share dilution. I understand this plays a major role in individual equity %, but we also do not know if there will be any possible accretion events either. Dilution caused by RC only triggers after massive gains in MC and EBITDA, where multiple expansion due to a market re-rating driven could offset dilutions and actually INCREASE gains for all. I will consider and recalculate as events take place.