What does Openjaws buy showThey paid 1.8 times annual revs so that puts latter at say US23MM, add GXI's current annual run rate of about US$40MM, that's $63MM which means on a buy out basis GXI might be valued at C$141MM. So there is some wriggle room on this basis for a 20% sp rise...of course the synergies of the combined coy make it somewhat a different entity but the risk reward on the buyout evaluation at 17c on 87c is perhaps too small and they need to prove out the new combination.
ps iPhones have already been part of the transaction profile