Definetly looked through Cornick's Binswanger Brooker connection. It might make sense it would have something to do with that, as he started as CEO in the early part of this year, around the time he first started accumulating shares. I also know Innovex Thailand has a large plant in northern Thailand and originally thought it might relate to some divestment of assets, but have found nothing to indicate that at all. There are two branches to Binswanger Brooker, they also help Thai and other companies in the region gain access to capital markets in the US, so that definetly piqued my interest. But, again, not enough info. yet to find a lead.
I still continue to think this is primarily a restructuring/BK play. While Innovex Thailand is a private company, it is wholly owned by Innovex, so any change in that situation will directly affect PPS. They are virtually the same thing. If Innovex Thailand and assets were to be sold, Innovex, Inc. would receive the proceeds. I'm going to keep looking to see if I can find more about an Acres/Cornick connection that might give us any indications.
As far as I can see if we can find out that Innovex Thailand is indeed still operating, that would indicate to me that the restructuring plan was approved. And if that was approved and that deal with Standard Chartered is approved purchasing all of their bank debt and pumping $10 million more in here to jumpstart the company, with 19 million O/S this will go big time. Certainly a number of if's, but the buying activity that has continued lately seems confirmation of someone loading.
