2020 BRN Discussion, page-22111

in suggesting a takeover, i try to put myself in the suitor mind, where they are at. i noticed a few takeover in this space, so at huge prices. It seems some want to totally control this space. Now BRN comes along and i say to myself they could/will grow to be a huge competitor - taking our major customers. I need to buy them before they become too big and their SP becomes too inflated leaving us little margin.
Then i look at our top 20, directore hold a good %, well paid, with options at very low exercise prices. ...
I would expect some institutional investing for position of a takeover- as price now are very cheap to potentional.
so if someone came along and offered $5 what would i do as a top 20 shareholder - having got my shares at less than 10cent? (and less) there seems to be several top 20 with under 1% each 1million share... valuation market cap at think its around 7.5bil-8. What would i do?? and that is what a suitor would look at- convince the top 20 to be millions with a yes vote...as said in the meantime a suitor could easily move quietly via indirect buying acquiring 5%. (which would push the SP up again) .
so we would have to look at the current state of our balance sheet of cash in hand, (most revenue would expect in 2-3years) so a CR or two might need to be had to continue to pay staff, or offer more option instead... becuase of our size the pressure to get to revenue is likely to take much longer an effort than a larger player could, use their resources to that end at much faster speeds.. so might pay a little more if they see nearing revenue oppose to current revenue at the time.
So suggesting $5- but might push to $6 ...not true value but we''ll be suggesting next year not at fuller maturity of say 5years on. which could be $15 plus. If we sign on a Samsung among others...then that $5-6might look better with a share offer added in.
It could not all be about what fair or expected but more about timing of an offer- if you were the suitor- would you not be looking to do this?