without competing bid agm will fall for 1.20, page-3

Just spoke with a fund manager from the smart end of town.
His personal opinion is that ZFX might only have to go to $1.15 in this market and say "take it or leave it". He thought all the funds and instos would take $1.15 and go and buy some blue chips on P/E's of 7 with the proceeds. He also reminded me that once the ZFX bid expires, the stock is going back to 50c real quickly. He pointed out that the premium ZFX are paying is growing each day as the market collapses. They may not have to go to $1.20. Hope they do.