Mega obviously has some assets - it has paid $C800,000 to SER for Uley repair with $200,000 to come on signing & it has half dozen or so directors or managers who presumably get paid & it is paying for negotiations in India & need to flash some cash there & the say their big asset is their graphite khowhow & contacts.
But if they got listed now, the market wld. value them at not more than cash backing & Mega wld. not make a deal on that basis.
I wld. expect some sort of deal whereby Mega gets listed with Uley & perhaps Indian graphite with SER & India with preferred shares or convertable notes with final settlement in 2 yrs based on market cap.But SER & India wld need watertight guarantees to protect their interesrs.
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