Whatever the past may have been, the current reality is that this shell and cash are valued more then where it is. Merchant will achieve a necessary outcome and provide shareholder value and put a stop to the monthly bleed of funds.
You can't have emotion about these things regarding previous valuations etc etc, it is all about the game in front of your eyes at this point in time.
I couldn't care less about the prospects of 1PG, that is not the game in play at the moment.
A shell is worth $3m min to list + COH and Merchant will cease control and redirect the ship in the near term.
IMO DYOR
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