"They couldn't get rid of the asset any other way"
Are you suggesting SOC could not sell the asset for more than the $500K of scrip they are to receive through the IPO ? In that case, why would punters pay a $12M market cap on listing for it ...
I believe sunk costs would be $M+ easily on this, so they've effectively taken a 50% haircut just IPO'ing, perhaps much more - again happy to be corrected
SOC would have been better selling this for cash and writing it off
Ann: Trading Halt, page-29
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