There is a very good chance a new business will use SE1 as a...

There is a very good chance a new business will use SE1 as a back door listing, and the suspension doesn't change that.

Tooth would lose >80% of his >$1M investment in SE1 if he simply reverts to paying out the cash. Not only would he lose most of his investment (not a huge deal admitedly given his wealth), but his professional reputation is closely associated with financial deals for listed companies, and his hobby is also intimately associated with venture capital and exits for emreging companies (Melbounre Angels).

Camillo Martino is also a director of a large SPAC on the NASDAQ, so has considerable experience with shells.

I took the statement that SE1 is talking to both a third party and the ASX in the suspension notice as a very good sign - my understanding is that we are obligated to keep the ASX informed as the deal develops towards completion, so perhaps that statement indicates we are getting close, rather than just shopping around the shell.

I agree with dad2021 - this could open higher. Normally, one would expect a more established business to take advantage of the back door opportunity. Yes, we will likely be considerably diliuted, but at the same time, a business with a positive cash flow would result in some excitment, and an EV/EBITDA ratio that could easily justify a SP north of 2c.

Hopefully not just wishful thinking.