Intriguingly Patrys reported that the term sheet they signed with the Chinese was "legally binding". This means to me that some of the (bullet) points in the document are legally enforceable. Items under consideration and discussion cannot be considered such. However a terms sheet is a very powerful document of intent and no reputable firm or person would dishonor such an agreement once signed. Taking into consideration of what is at stake and the complexity surrounding this particular agreement I believe that it would also be very expensive and time consuming to draft meaning that unless these Chinese are in the money and time wasting business that Patrys is on the cusp of a very significant milestone on it's journey to greater success. The share price then leaves me completely baffled, it has actually fallen on the news that a potentially company making deal is being orchestrated. Further, anyone selling at the current price is taking a bath. However a much more compelling question is "Why is no one (I'm talking about the biggies here) interested in buying? "
PAB Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
