"BMG remains committed to securing a new business opportunity...

"BMG remains committed to securing a new business opportunity and is well positioned to progress opportunities in the coming quarter.

Following the completion of the capital raising in December 2016 the Company has in excess of A$1.5m in cash reserves, but will continue to manage all costs very closely. The current management and directors, together with the Transcontinental Group, have agreed to hold all fees (ie no charge) until a new investment opportunity is secured. "

This is copy from Quarter of December and BMG saying acquisition could be in the coming quarter, which is March quarter....

However, the Appointment of MR Hancork obviously upgrade the Acquisition to a high level and he could be the man who source the Poential projects globally and it does take time so BMG changed March quarter to June quarter to give Mr Hancock enough time to Evaluate/negotiate/progress the deal prior 30th of June 2017....

Therefore, they have several targets already and if Mr Hancock already found the one BMG happy with, HOA can be signed first and announced to Market (which will be quicker and earlier than they stated) and BMG can still DD after HOA signed.....

I do like this shell, No debt, Enough sound cash balance, with support of big holders which has good business track records, small MC, Managemnts have big skin in the game so the quality of the project is in line with their interest, most importantly, management confidant of Holding their fee until New opportunity secured, so it means Their goals are in line with our retailers because they also wanna deal earlier and quality....

As I said, I am happy to build my position rather than chase many already overbought and I am in for the baggers when acquisition finally announced in a month or 2 times.....

I made Big money by buying shells and holding patiently so BMG is one of them I believe....