Who knows? We all DO know that the accounting is a fraud. That is a fact. But there may be extreme value in the land holdings, hence the valuation and the take-out price. That is what makes this as interesting as HRBN. The shorts were 100% correct with their analysis except they forgot about what the real estate was worth. The company keeps saying the deal is done and it should have closed by now, so buying the out-of-the-money puts is a cheap way to play the potential downside, because if the deal doesn't get done this goes below $10 per share in a heartbeat. Then again, this could be another HRBN and actually close.
Yes, 80% done deal. Just wait for approval by SEC. However, the Muddy Water may make some stories and causing the stock shaking. But eventually, it should be alright since company has its choice for its future. so 10% , waiting for no more than 6 month, it is not bad.
I mean are they all fully engaged now? This is binding?
Does anyone have experience on seeing there is flucuations between now and the end assuming FMCN story holds up? This can never go beyond 27.50 now so can we assume FMCN would stay around 25 until May?