Replies to post #199 on National Holdings Corporation (NHLD)

[glass99]

There's no premium in CB-Pharma's offer to NHLD.

Thanks for pointing that out. I was trying to be slightly facetious in my post by quoting CB Pharma's November 25, 2015 press release that included the November 18, 2015 letter to National Holdings' Chairman. It stated, "The offer price in cash represents a 32% premium over the Company's closing price on November 17, 2015. The offer price in stock of CB represents a 42% premium over the Company's closing price on November 17, 2015."

It is such a silly statement on the face of it. NHLD is a low volume stock, and the difference between the bid and the ask can consume most of CB's "premium". At one point during the week prior to the offer, NHLD had a bid-ask spread of more than 20%. That is the reason I put quotes around the word "premium".

<<Weiss and Rosenwald are not strangers to NHLD, and CB’s 32%-42% "premium" offer price is severely lacking.>>