RE: RE: Deal Just Announced OK, I've made some phone calls and background research, etc. My preliminary assessment:
1. Its highly unlikely this is a scam LOL. The new guys, Bakshi and Southcott, are by all indications respected individuals who have proven track records of success. And I'm not talking about a million bucks here and there - these guys have been involved in deals generating hundreds of millions. I seriously doubt they would risk their reputations to fleece a few ICT shareholders.
2. We're flat broke. How much cash would be needed to commercialize our products and how much time to achieve positive cash flow? I'm thinking at least another 12-18 months, probably longer. Past history of burn rates tell me another $2-5 million. Financing at .03 would dilute this stock by another whopping 70 to 170 million shares (assuming warrants, commissions, etc., etc.). With 130-200+ million shares outstanding, what kind of valuation would the market give us, even if we were on the brink of profitability? I'm thinking by the time we have any traction, we might hit a potential .10-.15 and that would be two years down the line.
3. What does Active Witness bring to the table? Strangely, that UK company by the same name seems to be doing exactly what Active Witness of Vancouver is describing itself as doing. Are they a foreign subsidiary? Do they have revenue? Is the technology commercialized? Major questions to be answered.
4. Share Structure - from the NR today, we seem to be the only shares scheduled to be free trading upon completion of the deal. The way I understand it, all the rest are restricted. If I'm wrong, please correct me. It could get interesting if brokers/institutions like this deal and there are only 4.5 or so million shares available in the market.
JMHO.