Landbarron, I spoke to my brokerage firm. I was able to determine that this is a mandatory merger, meaning shareholders have no say in the deal. It is a cash transaction. So at some point we will receive cash for our shares. The brokerage had no information on the terms of the deal, so we have no idea what they sold the company for.
They sent info to the brokerage firm allowing for a couple of options, concerning seeking an appraisal, but the way the company handled the deal, it made it impossible to exercise any of these rights.
Today is the deadline and it is impossible to vote and get the information to the company in New Zealand by today.
So the potential positive is that the company was sold for cash to a $5 billion company. The potential negative is that we have no idea for what price.
It could be a home run, it could be a bust. Current market cap is $2 million, it is hard to imagine they couldn't sell the company for more than that, considering the obvious future for this technology, but penny stock management teams screw shareholders all the time. So we have to wait and see.
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