Jim isn't the best a public relations and is use to dealing with private companies where he only has to answer to a few shareholders. Mike stuck him in this role and let him go. Was that the right approach Mike ????
He has tried his hand at the public level and quite frankly after he has left SBN I don't think we will see him back in the public arena again. He is ready to stand down as a director as I am sure the others are too but he wants to see this IP sale through.
If we get lowball bids on the IP and we (shareholders) decide to hang onto it until the end of the year I think he will stand down. He would want as graceful exit as possible and no doubt will be dreading any EGM or AGM.
If we get highball bids on the IP he has helped salvage some of our bacon.
At the end of the day we get to decide if the bids offered are worth accepting or not. Silent tender is the way to go because auctioning it will only get the second best price. For example, SiYi is prepared to pay $10m but Express Diagnostics is only prepared to pay $3m. If you auction it ED will pull out at $3m and SiYi will get it for $3.1m. Big difference to what they may value it at and what they may end up paying for it. In a silent tender chances are we would accept SiYi's $10m.
Don't go quoting me on those figures they are just examples.
SBN Price at posting:
0.1¢ Sentiment: Buy Disclosure: Held
