DNAprint Genomics (DNAG)

[frogdreaming]

Sorry gunnabe,

I have been responding to many people lately and I dropped the ball, please forgive me.

>>"3) Finally, please reply to my earlier question: 'If another company wanted to purchase that same 51% of Biofrontera [and cut dnap out of the game], do you BELIEVE that bio would accept less than $25Mill.....?????'"


That is a more complicated question than it appears on the surface, so allow me to break it into it's component parts.

DNAP is not paying $25 Million dollars for 51.7% of Biofrontera. As is clearly stated in the documents, they are paying $2.7 Million for a 51.7% equity share of the company. The rest of the money will be provided over a couple of years and is a 'sweetener', as the control of the shares takes place immediately. Everyone here assumes that means that they are gaining control and have thus 'bought the company'. That is not necessarily so. Worktoplay has recently explained (on RB) the difference in voting rights between dual class shares. You might find it interesting, and even relevant.

(btw: the irony of the title kills me)

http://ragingbull.lycos.com/mboard/boards.cgi?board=DNAP&read=312644

So my answer to your question (after apologizing for the extended digression) is; Of course they would accept less than $25 Million for the same 51%. They have already agreed to do so. If someone else came along and offered the $2.7 Million for the shares and the 'sweetener' in weeks instead of years they would cut DNAP out of the game in a heartbeat.

regards,
frog