Whilst on the one hand Invigo seems way overvalued at 10x revenue when you consider that after the recent tech crunch quite a number of small tech companies even on the Nasdaq are trading at 1-3x revenue, this makes you wonder just how over valued CRO was.
Reading the announcement one can’t really tell which is the larger company and as such any valuation for CRO above the same $10m seems excessive.
Could this be a ploy to try and set a new 7.5c floor on the share price to enable a lot of insiders to sell out once shares are out of escrow period and before investors have time to realize the company will most likely never make the revenues it hopes.
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- Ann: Binding Share Sale Agreement to Acquire Invigo
Ann: Binding Share Sale Agreement to Acquire Invigo, page-154
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