Bawkaw,I still have plenty of skin in this game, quite a few...

Bawkaw,

I still have plenty of skin in this game, quite a few close family members are holders and I pray for a good outcome.

The boards strategy however speaks for itself.

Hanlong have used a few old private equity trick here....

To elaborate further, in later stage private equity deals (leveraged buyouts and such) it is a common trick to “backload diligence” – you give the company a quick, high-valuation term sheet or scheme , which then locks the company in (the no-shop clause prohibits them from talking to other investors for XXX days or more). Then the private equity firm does their diligence, finds things to complain (or in Sundance case the NDRC approval and reasonable price bull crap) and negotiates the price down or walks away.

If they walk away, the company is often considered “damaged goods” by other investors/ buyers who wonder what they discovered in diligence. This gives the buyer a ton of negotiating leverage.