Just voted. There are certainly benefits for the reverse...

Just voted.

There are certainly benefits for the reverse take-over and could transform and bring the OBJ business forward a lot.

However, I agree that it's not a fair transaction. Main points for me are:
(1) The current valuation of NS seems far too high, considering the decline in profitability and competitiveness of the market.
(2) I'd feel quite uneasy with such a major shareholder, potentially holding nearly 50%. This could quickly result in a complete take-over.
(3) The shuffling around of funds within NS (loan to related parties, dividend payments, loans that potentially won't be paid back [independent report], etc.) seems a bit dodgy to me. Danny Pavlovich would make sure he gets the most out of it.
(4) Severe dilution
(5) My reason to invest into OBJ is the potential of their IP. If I wanted to invest into a distribution/sales business I would have done that early on. OBJ's technology would potentially only be a side gig post acquisition and most energy may be spent on fixing the NS business. A potential acquisition should promote and strengthen OBJ's core business and not push it into the background.
(6) In recent times, OBJ seemed to make good progress with their core business. It's been a long road, but I feel a lot more optimistic than a couple of years ago (or so).
(7) I'm not happy about the time and money the BoD has spent on planning this acquisition and don't think they have acted in the best interest for shareholders. Putting those resources into marketing and negotiating better deals with P&G would have been a lot more valuable in my opinion.

Sincerely hope that enough shareholders vote against the acquisition. If DP is keen to get on board, we can scrape of $10-15 mil off NS' valuation, reduce DP's personal shares and rethink the whole story.

Just my 2 cents.