Why did they do the deal then? It does seems odd that one of the BOD changed their minds?
The only two things that could have made them change their minds was that the company was undervalued or that it was part of the original plan.
The insiders would still have held a considerable amount of stock in the new entity - and with the Capital injection - it would have allowed them to grow the company quickly and thus make money!! I guess that their feeling was that they could get more money by not selling.
Has anyone asked Zig why the 2 BOD people did not go with the deal and what their reasons were?
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