I dont think plt will be in the hands of ther receivers in 12 months as you say rony cause they already have contracts and commercialisation is around the corner for them.
If the merger does not go through then they will simply cap raise to get more money to seee their products through
On the other hand fer is in a more precarious situation and its future is impacted by court cases ( Veronica James)having only one product and the dwindling sp which does not give investors much confidence.
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