RE: Management must have wanted out This offer is a joke.
Give away two thirds of VRO value, and get basically nothing in return.
One wonders what kind of bribe was needed to make it happen!
Quite frankly, its amazing the share price increased..............probably had something to do with their use of the phrase, Three dollars. The $3 value is a financing offer to a company that doesn`t exist presently, which when formed, will consist almost exclusively of VRO`s current assets - thats hardly grounds for a share price to increase.
Simply put, VRO has been valued at about 1.175X the value of the private company doing the buying! As an example, iIf the private firm is worth $50million, then VRO is priced at $1.17 per share.............and based on what little has been published, that private firm doesn`t look like its worth $50million in my view!
I ditched my position at or near $2.70................it ended lower, and quite frankly, it could go lower yet!