Jef,
You are assuming that CQA used their own funds to fund the DD…. which may not be the case. CQA raised $500k for the DD, but who coughed up the money?… that is the question.
I'd hypothesise that Priority One shut down the deal as CQA management were too bloody incompetent and Priority have the ability to go it alone.
Just my thoughts…..
GolfR
Ann: Conquest Abandons Proposed Bid for Priority One, page-7
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