So a few days ago we thought: 1. MSP has potential, is turning...

So a few days ago we thought:
1. MSP has potential, is turning some $$$, AVA is growing.
2. A CR is likely this quarter, but not necessarily imminent.
Then we got a CR, but via a new investor - FFT. Market liked it and sp was on its way to 5c.  All good.

But then we get this takeover offer, low ball - even if the shares were still 3c.

With shared directors between the two companies it's evident MSP knew this offer was coming.
** So why the cap raise?
Ans: (imo) to give FFT additional voting rights and perhaps cause a dump in sp to the CR level to make the deal appear better.  I'm highly suss of this.

Maxsec revenue up 70+% year-on-year to $7.5M.  This is huge for a $15M mc company.
** Why do the directors recommend this offer?
Ans: I really don't know. I can't work it out. What are the business or financial synergies? What does FFT bring to the table? Why should MSP join with FFT? Why do FFT shareholders get a premium.?  Management haven't built a compelling case and they need to when asking shareholders to drop 30% while FFT are up 40% (on crazy low volume, I might add, showing no-one there thinks this deal has a chance either)  

I don't see any reason for this merger to take place at all.  Just because an offer was put on the table doesn't mean we have to take it!

@mwac has made a case to say 'lets stop and think about this'  I think this is a good call rather than rushing into judgements.  and you've made some good points there too.  But imo, if the management truly believe this deal with push both companies forward then they need to:
1. spell it out - Sell the merger to us - let us see what they see.
2. offer fair terms acceptable to FFT and MSP shareholders.  If this is a friendly merger - its got to be fair for both sides.