My 2 cents from at a glance is that BD1 management have lost their minds.
SDX had to hand out a whole heap of the latest rights issue to Merchant at 3.5c because shareholders only took up around 250K worth........not sure how BD1 values the shares at 6c given they just raised at 3.5c?
Just another note SDX is bleeding cash.
Unlike our thrifty mob, SDX had staff costs of 736K and admin of 260K nearly a million per quarter, for December, with about 220K of income........will need to see a lot of them go IMO.
SDX share price has drifted down over the last 5 years from 15c to 2.7c.........does not instill confidence IMO.
I'll need to read more and I think our board will have to explain how this is good for BD1 shareholders.
On another note the company told me that there are no commercial terms, ie money , being paid to Griffith.
Not sure why the announcement said the terms were commercial?
Ann: Bard1 and Sienna Cancer Diagnostics announce merger, page-17
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