Assets increased from $133 million to $164 million year to year--but liabilities were not provided so it cannot be known whether that is an improvement.
It appears that they will be reporting a loss per share rather than a gain as in March 2011. Total revenue was also down from a year ago in the March quarter, although it up for the nine month period in 2012.
All in all, with no management explanation, the report tells us very little.
Well, if it is proceeding, they need to get a proxy out soon. The 6/30 drop dead date is fast approaching, and it is a minimum of 20 days from the proxy being mailed til the vote date. If you don't hear by 6/10, I'd consider it toast.
Of course, they could always extend the drop dead date, and sometimes they due for antitrust hassles, but that is not the case here. It just seems like they are not doing anything.
FWIW, last proxy revision dropped 11/30/2011. That's a long time.
Where is everybody?!! The 10Q, released yesterday, indicates, among other news, that net assets have doubled since last year. The merger is proceeding, with $2.65 set as share price. The deal is cloaked in legal gibberish that even I, with an English MA and some law schooling behind me, cannot decipher. Would appreciate some comment from anyone better able to translate.