Not all Shells and cash boxes are what they appear
with cash boxes you need to make sure there's no potential overhanging issues like BAU which is facing legal issues which could cost it a large amount of its current cash backing
you also need to ensure its a decent amount of cash because a company trading at $2m with $2.5m in the bank could easily burn through that cash in a few qtrs so you need to ensure a large amount of cash preferably over $10m and also a low cash burn so that the cash isn't being eroded away
having other assets is a bonus to the cash backing
usually what these cash boxes require is a significant catalyst to break the sellers back and ensure a big spike
GBE was trading in the 2's with cash backing around the 4's came out with Graphite announcement and stock ended up going to 5c the next day so above cash backing and eventually as high as 7c
RDR was trading below 2c with 2.5c in cash stock came out with a research report valuing them at 17c I think stock went to 3.5c the next day so again above cash backing and went as high as 5c I think
LMR to me is the next no brainer of the lot $15m cash low cash burn and trading at $8m will need a catalyst to break the sellers backs but matter if when not if it gets to at least 8c cash levels and then on to 10c-12c targets like the others which overshot cash backing levels
