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Re: oiledgearz post# 45820

Wednesday, 08/15/2018 12:34:30 PM

Wednesday, August 15, 2018 12:34:30 PM

Post# of 48153
When I add up the debt on the 10-Q, the $45M "Share Purchase" deal would only cover the formal debt with about $100K to spare, so you would still have a money-loser in deep doo-doo at best. Also, come Sunday, the exclusivity of the deal expires and either party can cancel at any time, which is equivalent to no-deal.

HVE etc. have turned out to be money losers also, and all that's left that's in the plus column is RDX. (Once again they note that Glassware is "not material", chuckle, chuckle.)

I still say it's entirely up to CCP. They've got to cough up $18.5M, or kiss $24M goodbye. I say it's 50:50, but I still think it would be very entertaining if EK flipped and went direct to Colbeck with $18.5M, given that his raising $45M is a pipe dream.
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