Having 7 directors for a company that doesn't have an active business operation, besides litigation, is wild.
RE: Locke funding. I wouldn't be surprised if the deal has, in all respects, fallen through but final decision yet to be made as AVZ are on the hook for $1mil if it doesn't go ahead.
The initial term sheet was a horrible deal to begin with IMO. What sort of competent management agrees to a $1mil break-fee clause..? Especially considering they claim they had "various potential funders" to chose from.
AVZ Price at posting:
78.0¢ Sentiment: None Disclosure: Not Held