I will agree with you on the fact that you would think this would be a faster process with basically no revenue in the past couple of years. There should be a significant loss which could prove valuable to us - I don't know.
SH's shares would be worthless too in your scenario but they would have a facility. They obviously see more here than you and I - they could have written this off a long time back.
I'm encouraged here....money talks and I'm sure they have a commitment from the auditor - but I don't think they will share it.
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