smh on rms & drm, page-3

Nice article, but will serve to hurt RMS wallets further (raising interest in DRM - a big talkup to DRM).

People are confronted by the prospect of RMS doing a cap raising with so much cash on hand. The DRM play is the reason why.

RMS might do another drawn out failed takeover, or might try a quick snatch and grab. It will need to be at a premium to DRM at $1.40 minimum, at leat 25% say $1.75 for DRM

Maybe another 2:1 share swap offer to DRM holders with RMS conservatively at $1.00 (or better) - look for arbitrage if this happens (again!!). Again, it will only discount the RMS SP.

All out purchase at $1.75 for DRM now for extra -
46% controlling interest = $50.0M in round numbers
95% of balance = $103M

So you can see the possibilities if RMS want to avoid the possibility of another failed bid.

As for the impending reduction in RMS margin (compression) well, that should be a no brainer.

regards,