$23 range now. If you live long enough you might see $25 again, but it was a long climb back up. Annuities
paid off for the last 7 years like clockwork. It is not a bad fund, but nothing to celebrate either.
Good points. I hope you are right about the shared fate of outside holders. I am wondering if there is more
going to the two directors that would leave, especially Hong Lu as founder, or will they only receive the
price of their shares. Otherwise that could add to the cash burn. Good luck.
I have not been able to get very much information on the Soho/Shah transaction, so thanks for filling that in , disappointed Shah is leaving but always figured he would make money but maybe I wouldn't, anyway it puts the future of outside shareholders up in the air again.....although $6 would be okay. The near term revenue projections are actually pretty modest when you take out the second quarter, that was the point of my
initial observation. Anyway, like you say, sit and wait, let's see who gets called in to save the day again.
Good luck all.
The Shah/Lu collaboration is nothing new, I expected and said that with more Shah participation in management they would make money and try to take it private with Lu, again, with the caveat that outside shareholders might not benefit accordingly. You have made the point that this may not include the general shareholders (however few) even though in another jurisdiction, it would be a legal issue. Shadow thinks he is going to get $3-4 a share anyway, and I hope that is the case but then I don't really believe he is an outside shareholder, old pal that he is.
Okay, let's believe that Price is out because they charged too much for the audits and so it was bid out. Given all the gymnastics of UTSI and the whole privatization thing, this falls under the category of a warning flag. I bought a little back in saying the Shahs were not going to put up with all the BS and make money out of this company. I also said outside shareholders may not share that fate. The dots are lining up.
They already have 48% of the votes, so they can do whatever they want unless anybody thinks they cannot get another couple of percentage points.......a Chinese company. They are going to take this private at the least possible cost, and there is nothing I can see that would support the non binding offer certainly not the
"independent" review board? That is a joke. This will be privatized under $5 short of a white knight that really cares, and there isn't one certainly not in dollars. Only an unknown 3rd party can suddenly help longs. Just my opinion.
For anyone who has done business in Mexico, when new bureaucrats are introduced into the approval mix, you might guess that new pockets will need to be filled. It is quite more likely the refiling of the EIA was encouraged by Oceanica probably via Minosa for time to "explain" the environmental issues to the new local
politicians. La mordida.
Don't forget, Shah was initially behind taking this private, may this is a path in that direction.....frankly I cannot see why they would be spending cash buying back shares on top of this P&L and balance sheet.