Quote LOL, "No vote required, per 8k..."
SHAZAM, what a freaking surprise, LOL !!!
IMO, They've had this deal "in the works" since the insider boys re-priced their own options, that's the first clue. The bad, warrant laced secondary to put some cash on the balance sheet was the 2nd, then a POS 10-Q yesterday and a conference call in which it was learned that they just spent $6 million in a qtr but really have no trial advancing as it's once again "on hold" but they blew a crap pile of cash on vague entries like "consultants" and what not.
They've had this in the works for months, it's really all they've been "working on" IMO. They have this thing sewed up air tight IMO and I mean air freaking tight. It's done and over. There's no bidding war, they were lucky to find foreign company with deep pockets to pay a pittance for this POS just to get the IP probably more than anything, to be used outside the US. Wotton looks like he was probably brought in form day one as a hatchet man to get this old OTC convert penny POS finally sold and done and get some insiders boys wealthy. Else he and the new boys cooked this scam up all on their own with the help of Jeffries and the investment bankers.
Notice who's representing ole OCAT, good ole Jeffries, they've had their mitts all over this mess since the POS warrant laced secondary. Think the price got buried to $3 and change and then range bound at a lousy $4 and small change by coincidence? They were setting the table for this offer- to get their options reprice and still make it look like a 80% increase over the present price- so they can pitch it to the stupid news as a big win. They of course won't mention that Lanza dumped his last boat load of shares of this dilution machine OTC POS for 50% over the current big sale price, LOL !! They won't mention that this big ole offer is really just back at the average OTC penny market POS price from over 1 yr ago.
It's done and over. They got the deal sealed and the insider structure, the way these boy's have the vote set up, they hold all the cards.
It's a tax loss write down for probably 70% or more of the retail suckers who clinged to this POS for how many years now, LOL !! And now OCAT will be no more. The shares get bought for $8.50 and then it ceases to trade and it vanishes, rolled in to the new foreign owned entity. Done.
That's my 8.5 cents worth on it, for whatever it's worth, which ain't much LOL !! And NO, there's no big "short" conspiracy either, as the little stem cell blog is trying to stoke up this AM. The myth of the naked shorts again being spun up over at that little blog site. Not happening.
It will trade up close to the tender offer price, then sit there for the 20 days or whatever it takes to get the deal closed and then lights out.
Any talk of lawsuits is futile IMO. They never go anywhere and the only people who make money on um are the law firms. If one thinks $8.50 is a raw deal, wait till some law firm would get done with this cash poor company, they'd probably BK it in the end and the buyer with the tender offer would just walk away. It's OCAT that would owe the $11 million or whatever it is in that filing for failure to complete the deal IMO.
It's over, simple as that IMO. Done. Stick a fork in the OCATA saga, the long and tainted tale, it's finally done.
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