The Metaplanet modeler asks what a single MTPLF share owns in bitcoin once every claim ranking ahead of it is settled. Preferred stock ranks ahead of the common here, and the projection carries it on its own terms rather than folding it into total debt. Claims denominated in JPY are converted at the rate in effect, so a currency move changes what the common owns without any bitcoin changing hands. Senior Claims % and CEBE are recomputed from the capital structure at whatever bitcoin price and issuance path you set, so the figures below are the ones your own assumptions produce rather than a forecast.
| Company | BTC Held | CEBE | FD BPS | Claims % | Equity% | Break-Even |
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