Ann: BTH: Response to Media Speculation, page-13

What an opportunistic move by BTH...acquire 50m in ARR which is probably ebitda positive once you get rid of some mgmt....all for 50m.

I would have expected mgmt to knock this back as laughable, but perhaps shows how desperate Karl & Peter are to walk away that they are even considering this (that or things are sliding backwards business wise).

Hard to know what would be an appropriate price in this environment, but closer to 15c would be my back of an envelope calc....if they can get the business to 20% ebitda margin plus growth...perhaps too much for current mgmt who seem to want a quick exit