Nothing has been announced by A40 yet, so who knows. I think...

Nothing has been announced by A40 yet, so who knows.

I think maybe GXY have had a look at the deal on offer, assessed the consequences (dilution etc), and have said "don't announce anything just yet".

my reading of the A40 threads have indicated that A40 and GXY management were quite chummy and singing each other praises.

whatever happens, the deadline from Tribeca is today, so we will know soon enough.

my preference for any deal world be cash and script.

one of the loan covenants was to have minimum $15m cash, so they aren't at $0 in the bank.