If exergen think MNM is worth 20c/share then they can make that offer to the MNM board as part of the JV/backdoor listing whether the SP is 10c, 20c or 50c.
I just can't see it being in MNM's interest to keep the SP down, for any reason.
MNM Price at posting:
13.4¢ Sentiment: None Disclosure: Held