CSP, This morning I posted the same thing over on the YAHOO board.
Now I'm not the sharpest tack in the box but I was questioning where the hard evidence was that this initial closing transaction with Seaside has actually taken place.
I may have misunderstood the whole thing. It was announced in the 1st week of Nov. and 6 months would have brought it to April 30. I thought the !st installment was the 1st week of Nov. to be commenced ubtil April 30 for a total of 14 installments.
Since the land deal was overturned and management has made it clear of outsourcing intentions they no longer have a need for the cash. In that scenario cancellation of the agreement surely would add instant value as 10% dilution immediately disappears. This would make a lot of sence as management would still control over 50% otherwise they lose contro;ing interest.
Again with the announcement in early Nov. why would they do this and not take action? They were cash starved in Nov. needing immediate cash for payment due in Dec. for the acquisition.
Obviously your snenario makes better sence unless they need funds for another acquisition...comments welcome
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