The end game for BIO-key.
I think I'm convinced more than ever at the end game for BIO-key is a buyout at $3.60 a share by China gold Joy. It will probably be disguised as a merger but make no mistake, this will be a buyout by China gold Joy and the big reason is that first they can buy it cheap and second utilize the NASDAQ listing to get China gold Joy listed on the exchange.
There may be a few pennies more in it for BIO-key shareholders but I am convinced it will be somewhere between $3.60 and four dollars maximum.
Useless press releases like the one that came out yesterday only provide the illusion that something is getting done. There is no detail there, there was no Dollar value associated with The announcement, there is no reason in there to believe that this deal that they announced has any significance whatsoever. The only thing it did is give shareholders the thought that we're still playing in the game.
I had hoped that we were done with fluff PR's long ago and that we would actually get real information in these press releases. Clearly, I was wrong.
The only insider that's buying is Wong and he's buying up as much as he can at the price level of the low threes and below. Probably a very good bet to buy up whatever shares that he can buy at those levels also for individual shareholders. Will probably do quite well when the company gets taken out at $3.60.
I hope I'm wrong but I doubt it, I just don't think there's going to be that kind of pay day for the long time BIO-key shareholder.
That equates to $.15 after the conversion for reverse split.
I do have one question though, what happened to all the institutional investors that we're chopping at the bit to buy the stock when it got listed on the NASDAQ?
