Rato: You said, "I just cannot understand what they were thinking to sell this company at that valuation in a situation where they were well capitalized and had no need..."
Here's a pretty obvious answer from the I-Hub CCME board:
"Jacky explained that they did not anticipate the overall world markets would improve and thus they accepeted a lower valution. This was common during a tough economic period for any company, mining companies are a prime example given they are easier to value and takeovers are common. It may not be so easy to believe now because the macro conditions look better today; but at the time CCME wasn't the only company that was giving itself away for a song. His explanation is highly probable and highly believeable given the situation last year. Also, CCME was new to the business, and honest mistakes were made. The need for capital was over estimated in my opinion."
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