very undervalued with little risk

I like these stocks.
NTA of 1.82 via investment in Baycorp and Cash.
Currently trading for the $2 call. ie NTA will be 3.82. with the majority in cash and the rest in BCA.
It only has to either tidy up the deal with BCA or make another investment and at worst the value should be 10% less than current NTA.
Zero managment overhead.
Its a good call and when a deal is done then you make money