As I recall based on past posts the deal had unresolved issues regarding the structure of the preferred shares which was spilt among management and past acquisitions etc.
Acela value far exceeded that of the current assets of the company and as such demanded I am sure a fair share of the preferred shares pie.
All current preferred shareholders would need to agree as this entails that they would most likely have to give up a percentage of their preferred shares.
This seemed like an insurmountable challenge at the time and many investors assumed the deal was off.
However the company never said officially it was off and Acela stopped talking and refers you to CDIX management.
Next 10Q may provide clues that this issue has been resolved by seeing a structure change in the preferred shares.
If so, that would imply the deal is still possible.
Also the pps was oversold as was the chart and the current assets of the company alone justifies a higher pps so it was just a matter of time that the pps would recover and move back to a fair Market Cap
So the improved 10Q will alone justify a higher pps
Anything in the 10Q confirming the Acela deal is still active will simply explode the pps
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