wow..., page-22

Ok I'll put my hand up as a dweeb then. I've read it over a few times now and I still can't decide if it's good or not for CVI shareholders.

How many times can assets be flipped?

Looks to me like it's better to be a Pensador shareholder than a CVI holder. Even though CVI will be a Pensador holder the deal appears to be summed up as selling the farm cheaply and committing to buy it back for a heck of a lot more - the dilution risk t4p mentions.

Since it's the assets that are the key a couple of questions:
Why is the fundraising not happening with CVI? (inability to tap the funders? prevention of dilution? if the latter, as holders have been told, then there's only a transfer of dilution date)
Why not a merger of companies now?

Will have to think it through a few more times over the next couple of days before being confident of a conclusion - perhaps it is brilliant and it's hidden in the complexity.