What a pity. This is an unnecessary acquisition for a company with falling cash levels and too many shares on issue already.
Buying a small people business like this is a management distraction and adds no value to company overall.
I wish this company would just concentrate on the Main Event/Game ....ADRC
Why would they need Codium at all. The assets go up and down the elevator each day so if the key people leave its worth nothing. Also if Codium owners reckon their business is so good why would you sell it.
I see this as a stupid transaction and a waste of management time. But maybe management have too much time on their hands.
XPE have a big salary base to pay for now and in USD$$ and have way too many shares on issue to be spending the cash at hand and issuing more paper. JCT revenues are way off and small
A dud deal Ethan
XPE Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
