cash backing per share

these are the facts:

1. cash of $72m
2. shares on issue of 150m
3. convertible notes on issue 50m
4. shares on issue at conversion of the notes (excluding options) = 200m
5. market cap at conversion based on current price (200m x $0.61 = $120m(.
6. cash backing per share of $0.36.
7. this values Balla Balla and all other assets at $0.25 per share or $50m!!!
8. CFE sold its crap box for $400m!!!
9. someone is either selling at any price or they are trying to push down the price to take this over on the cheap!!!