I agree.
In order to proceed with any due dillegence, you must have intent to sell. To have intent to sell, the offer must be presented to the BOD and the majority stock holders for approval. Otherwise, you still have no reason to do due dillegence. They said "okay." From there, to not go behind the backs of other shareholders, it is imperative that the intent to sell was made public knowledge. Then, the due dilligence can start.
It goes back to the example I gave last week of a real estate closing. A prospective buyer does not pay for an appraisal or inspection prior to their offer to buy being accepted by the seller. The seller is not going to start making repairs, etc. to satisfy that particular buyer's demands until they know the deal is as good as closed. Similar procedural matters are being taken care of between Thresher and the buyer.
Do I believe there is a potential buyer. Yes. Do I believe with 100% certainty that the deal will go through? No. I am still looking for my crystal ball. But like several here, I believe the potential return is worth the risk.
Those who cry "scam" keep referring to the current share count. Okay, there was a reverse split. We understand that. Been through that process plenty of times in other stocks I own. You know going in that unless there is uplisting goals that the end result is going to be dilution. It is a given. It is part of the process of a start-up company. You either believe in the company and hold or you sell. Your choice.
Now, the offer is proposed. Information is made public that they intend to sell. Shortly thereafter, the last of the shares...this final "billlion"...that everyone is making much ado about...hits the market. It is confirmed. 11.5B outstanding shares.
What has happened since that time, however, is what the "bashers" cannot explain to me. No additional shares have hit the market. We are still at the same 11.5B. Since those shares "flooded the market," Thresher has hosted a conference call. Albeit, not a very good one. Some people do not have the gift of gab. Knowing the confusion caused, they issued a clarifying PR. They issued another PR just last Thrusday advising the deal was still being persued and from the information available at that time it looked like it would be finalized and closed on the 30th.
My question is:
Why? Why go through all that added effort and expense if this is your typical, petty pump and dump?
If they are not infusing more shares into the market, what good does prolonging this "scam" do for them? They are not making additional money if they are not selling shares! Why keep up the pretense if the buyout is false and there is no buyer? According to the bashers the company made their "millions" off this pump and dump! Okay, if that is true, then why the extra steps of reassurance? They should not care! Why risk a prolonged, negative exposure to the company?
The answers to these questions have me shrugging my shoulders. It does not make sense. And what does not make sense, has me take a closer look. Maybe, just maybe, this is one of those rare ocurrances where something good happens in penny land. I am cautious, of course, and will never risk more than I am willing to lose, tempting as it may be. I am also closely monitoring my personal alarm trigger.
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