I also like the new CEO, Cheryl Maley. This deal tells me that she is hungry and connected. I expect that there will be more to come. In the past I've had good luck betting on new CEO's turning around a company that has been languishing for years. Stock trading around 14c supported by about 7c cash per share makes it a good spec. Little to no financial risk, SPL won't go broke, not with $30 million on hand. Then look at it from Medixci's point of view. They have deals coming at them everyday while they also are out beating the bushes for winners. Choosing SPL indicates a belief that among all the opportunities they have before them at that moment, this joint venture well give them the best return. This one deal won't make SPL, but it is a signal to the market that it no longer is a moribund company chasing its tail.
SPL Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
