Valued at US$15m by who - Powerhouse Ventures or its Director on the Motim Board? The other party - valuing their non cash input.
The proposal seems to be to sell 100% of Motim's assets for 30% of the new shell company, controlled by some unknown people, whose expertise etc is worth $10.5m.
Sorry this announcement is nothing but a joke and if the shareholders do agree then that is a real reflection of the lack of commercialisation expertise that PVL brings to its investee companies. Or of course they are too busy doing rights issues, then not doing rights issues, selling Invert then not selling Invert, then selling Invert.
PVL is desperate for anything that might mean a little cash in their pocket regardless of the impact on shareholders. Would love to be at the Motim meeting - might see if I can get a proxy.
PVL Price at posting:
18.5¢ Sentiment: Sell Disclosure: Not Held
