The notice for acqusition, with the valuation at 11 cents, was given before trading on January 31st. At the end of trading that day the quarterly was released that showed a significant improvement with quarterly cash outflow improving to -$1.45 million from -$2.25 million the quarter prior. Additionally, the $1.2 million R & D funding was paid in January 2023.
To me these favourable numbers change the picture. Colinton may not have seen these figures before agreeing to the acquisiton.
IHR Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
