I like your thinking, it makes a lot of sense after reading between the lines of today's announcement and perhaps the CEO may have had something to do with it. But I don't agree with the company giving the assets away for a song.
Why couldn't we hold 50% in the end? The new entity could have done an inspecie share transfer of the remainder to MLS holders to meet ASX listing requirements and instead of raising $3.5m by issuing more stock at this rock-bottom price, perhaps MLS could have taken con notes and just loaned the money to the new entity until they find their feet before exploring dual listing down the track.
I like your thinking, it makes a lot of sense after reading...
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