I remain ever optimistic and perhaps more patient than some...

I remain ever optimistic and perhaps more patient than some others on this forum, but am disappointed that the choice of language in the announcement still doesn't do much to inspire trust and confidence in our company's management. Describing this as "consideration of $79.16 million cash" feels like management using weasel words to make the offer sound better than it really is. The key terms are clear that this transaction is set up to be able to close with absolutely no cash being exchanged--at least at the point in time when the transaction occurs:

* Being owed $67.17m (the Debt) is not cash (there are plenty of examples in this group of companies where debt has been paid in ways that don't involve cash)

* A $12m convertible note is not cash

Surely the word "cash" was unnecessary and unhelpful to use here--but people who don't read past the headline will be fooled into believing it (just see how many comments earlier in this thread are referring to cash). Rebuilding trust is going to take a change to stop using language loosely.

Meanwhile, the owners of HML are continue to be charged high management and performance fees for our investment managers to manage this pile of debt and convertible note.

But just like yesterday and the day before, everybody should be happier today than yesterday as we are one day closer to some sort of final resolution.