Good post, have not been following proceedings lately and that brings me up to date.
I mentioned some time back value of shares lies in carried forward tax loss in public company and realistically current value of 10% is about all you could expect.
As you say 100% improvement on previous offer and you guys should be commended for taking the fight up to these turkeys.
Had the tax loss resided in a subsidiary rather than the listed vehicle CMR you would not be having this discussion as the sub would have been sold from under you and result would have been a total wipe out.
The options are just a cheap token gesture, who in their right mind would pay up with the amount of shares on issue post restructure so they are in effect designed not to be exercised.
Good luck.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
