YaSheng Group (HERB)

[RealDutch]

Yes, the $11 offer was fine. LBOC fully understood the new cash flow situation at HERB. All of this made sense to me at the time.

What most people missed is, they planned to pay in cash when the notes mature in 10 years. Only the interest was in bitcoins.

There was one reason why the offer didn't make sense at the time. Because Parent who owns 83% would also have to tender half of their shares. And it didn't seem likely at all that they were in on it. But we later learned that HERB is doing more business with BITCF. That's why I revisited this press release. HERB BOD must have been aware of it. Although the offer wasn't definitive, I now believe they were really trying.

And if they were really trying, then they should be able to make us an offer that makes more sense (which would include cash on hand). But hey, HERB might as well go private, because they have the cash now.

and now have more than three times the cash

Look again at the sticky. That offer is 3 1/2 years old. HERB hardly had any cash at the time.