I think the recent raisings would have diluted things enough to allow for a successful bid, I also note there have not been any " substantial shareholder" notices filed. The next top 20 list they release will be interesting. An offer of cash and script in a cashed up expanding story would be attractive to most who are still underwater on their original investment. Think back, list was 25, raisings have been around 30 and the price us now 18. I would think it would not be to expensive to buy for a bigger fish given their strong cash positions.
BSR Price at posting:
16.6¢ Sentiment: Buy Disclosure: Held