Only question is who is to blame. If OVTI is guilty it has to pay $28M to Hua. If Hua called it off without good reason, OVTI will get consolation money of $1.00 per share. If Hua can blame any government agency. then Hua will refuse pay even that $1.00 per share penalty.
Shanghai stock market is collapsing very fast losing 30% in 2 weeks. Every company in Shanghai is defensive mode and absolutely no shape to buy other company. This deal is probably dead with Hua giving excuse that they cannot get Chinese government clearance. This excuse will allow them avoiding the cancellation penalty. We will be ack in 16-19 very soon.