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worthylion

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worthylion

Re: None

Wednesday, 02/07/2018 10:48:41 AM

Wednesday, February 07, 2018 10:48:41 AM

Post# of 114182
CBAI--Good merger arbitrage opportunity here. PR'd this morning they had agreed to sell all assets excluding cash for $15 million. With 1.3 billion shares out that equates to .0115 per share before taxes and expenses. Seems like SH's should get at least .008 per share of the proceeds plus there's another $1 million in cash. Deal is subject to financing but they took months and months shopping the assets and making an announcement so I'm guessing the financing will hold up. Stock trading at .0045 now so liquidation proceeds should be close to double that.
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