longline - MW and MH are former IBR directors. They did so well, because they had significant holdings in the company which I imagine ran from seed to IPO prices (10-20c?).
The deal they did was an all-script offer, that worked out around $1.06 per share (from memory) with no escrow. Sometime before xmas they dumped all their stock - prior to the Lat deal they were top 10 shareholders, Im thinking subsequent to this deal they were pushed down the ladder far enough not to trigger a change in significant shareholders announcement.
Read into this as you will, but one must admit they had a cunning exit strategy.
Interestingly enough I cast a line out on the IBR thread, and found someone who did not take the TMR offer and has retained their original IBR shareholdings. Im not sure if it is a major or minor holding.
TMR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
