Using my ipda which is difficult to paste sources and quotes...
The performance options are not just based on the sp hitting 10c for 10 consecutive days..which is the first option and the second to have a farm agreement with the company retaining no less than 51% of the company...
So to me its simple...they are not going to hit 10c for consecutive so thats gone imo
The viewees are apparently asking for a 3D before they sign anything which is a substantial hit which the multinationals are using to bargin to get more of the company
Managements two real options are
Take the hit and sign over more than 49% of the company so we get over this agreement drama and the JV funds the survey worth $10 million and say bye bye to the 10 or 12 million from performance options (i forget)
Or
They believe its possible to acquire a 3D and sign an agreement in time of the dealdline WHICH IN TURN would suggest they retain 51%+, cash from the jv partner 8-10 million ANDDDDDD a further 10-12 million from the performance
I know which one i would target
Using my ipda which is difficult to paste sources and...
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