Bluntly put it's worse than that, DNA has come groveling on it's hands and knees back to it's Thai vendor masters as a last resort and offering the last scraps of it's soul - after already sacrificing it's body during the weak handed litigation.
However I digress, this may have been the only way forward due to unforeseen world events and actually this is the best option forward - these guys obviously do know how to run SV, they have the connections to direct junkets and VIPs back there now that they have incentive to not compete but to promote it.
Wow these guys sold it for 360m, actively breached the non compete agreement to ruin it and got away clean. Now they will buy back much of it for a tiny underwritten amount and get seats on the board.
This is really a disgrace, however there is some light at the end - these guys now have incentive to bring it back to profitability instead of selling their shares after escrow is up in Sept. Gobsmacked.
DNA Price at posting:
3.8¢ Sentiment: Hold Disclosure: Not Held
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