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  "documentTitle": "TMC the metals company Inc. (TMC)",
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  "notes": "Uses excerpts from a PwC Monitor report to contradict the valuation of the acquired assets.",
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      "text": "We believe the overpayment was to undisclosed insiders with a history of ripping off minority shareholders.",
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      "text": "Marketing Activity and Bidders with Interest Prior to Pre-Qualification details.",
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      "text": "PwC Monitor’s Second Report to Court dated June 12, 2019 (“PwC’s 2nd Report”) included results from the SISP which disclosed that none of the approximately 300 potential bidders valued the entirety of NMI’s assets above US$ 23 million...",
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      "text": "In March 2020 DeepGreen acquired the TOML licenses from Deep Sea Mining Finance Limited (“DSMF”) for US$ 4 million cash plus 7.8 million TMC shares.",
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      "kind": "paragraph",
      "text": "The license is worth US$ 250,000. So why did DeepGreen pay US$ 4 million cash and 7.8 million TMC shares for it?",
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      "text": "In 2019, PwC was the Monitor for NMI’s restructuring process and tried to find a buyer for NMI’s assets through a court-approved sale and investment solicitation plan (“SISP”).",
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      "text": "little to no interest in intellectual property, resource licenses, or contracts — PwC Monitor’s Second Report to Court",
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      "text": "OVERPAYMENT TO UNDISCLOSED INSIDER FOR TOML LICENSE",
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