The company was approached to be bought out and the price was no where near $10. The board turned down $7.45 but 8 weeks later had to raise cheap capital at $6.05. Maybe the due diligence that the potential acquirer had undertaken had shown a shortage of cash. Shareholders have no real understanding of the entrails of this company.
Ann: Change of Director's Interest Notice - J Chafkin, page-4
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