Erm... then you could say that no sane person would make any sort of transaction: why pay for renovations, when you can keep the money?
The BOD saw value in transferring value to this 'strategic investor'. Just because you don't know what this value is yet, does not mean the directors passed this value on because they don't believe in their company.
Because you have proven to be smarter than this, it REALLY sounds like you're just down-ramping, considering you've exited and have admitted you're eyeing a lower entry point. I prefer the smart ElNuto... bring him back?
