So as I see it, if they stick with the 85% distribution then we...

So as I see it, if they stick with the 85% distribution then we get 11.25c per share. (10% better than if you sold today). That leaves 2c per share in the bank plus residual company value (whatever that is (0.75c*). If they go with 100% distribution then its 13.25C per share plus residual value.

Either way you can take 10c per share today on market or 14c per share in 6 months. (This assumes you can sell your shares on market in 6 months' time of course.)

Then there is the slightest chance of a superior bid, but not putting any weight on that.

I am genuinely seeking opinions on this. Am I oversimplifying this equation?

* is an estimation based on nothing.

Sentiment changed from Buy to Hold while I consider this.