I would love to see a strategic asset sale, or even an announcement of one being contemplated; most particularly if accompanied by the purpose being articulated as eliminating any need for 2013 share issuance, or to buy back stock on the open market.
To suggest that that sale might be HU for $75M -- a figure that would value the entire company at least 12x its market cap -- does not pass a sanity check.
The whole point is that the company has work to do to get value recognized, via dual listing, etc. It's not going to magically happen, and it's not going to jump 12x in one big fell swoop.
Here are a couple other ideas:
Sell 25% +/- of the HU business, retaining 51%, for $5M -$7.5M, much more in line with current valuations, yet enough to cover 2013 indicated share issuance. Frankly, I'm not sure that that money would be freed outside the JV, but should be.
Another idea would be to sell a geographic master license agreement (e.g. Beijing province) for the fish farm technology for the same $5M - $7.5M, plus a % of future revenues.
Perhaps whether these types of ideas are viable, or are or would be considered can be ascertained at the investor tour.
