The SP should have gone up on this announcement. More cash, less dilution. Less distractions...
Codium was always about enhancing the offering and services to new customers and users of ADRC, and getting some revenue in the door. Although amount of revenue was not mentioned. Probably minimal.
I would say its possible that some key codium personnel were involved and they werent willing to be locked in either.
The deal had some tricky parts to it and that is always a recipe for suspicion.
Good to avoid the cash drain and the dilution.
And can always come back to it.
XPE Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
