Looks like NBR may have stoped the 1 month free subscription.
But in summary.
(1) The deal and the $5m valuation. This is apparently a scrip deal and people close to the transaction say that the company has not yet been formed, has no cash or assets. So in effect PVL is suggesting selling 100% of Motim to a shell company and getting 30% back. The ex Chairman said something along the lines of $5m or $5o million any number will work.
(2) Motim is under signifcant financial pressure and may be insolvent - owes $1.2m back in November - acorrding to a letter from the PVL CEO.
(3) This letter was released by the NZ Venture Investment Fund, under NZ's Official Information Act. They are a shareholder in Motim.
Lots of other good stuff, but that in a nutshell is it.
PVL Price at posting:
23.0¢ Sentiment: Sell Disclosure: Not Held
