RE: Hey BrainPhart Loudly...We are sensitive on this board, aren't we.
Remember there was an initial roll-back of sorts in the first merger plan where shareholders would get 1 CJC share for 4.3 FAB or 5 WL or ?? BHP shares. Or some ratio like that.
FAB and CJC have essentially exactly the same share of the same asset. Well, since WL is already rolled back 5:1, it makes sense for FAB to be rolled back as well. The only thing different is the ratio. Since WL paid all the costs of the newco, and FAB has been further diluted, and is in a situation that will be costly to rectify, the 6:1 offer likely represents fair value on par with WL shareholders. It seems to be a graceful exit for FAB since they are not trading, the president is being investigated for insider trading, and they need to raise 18 months of funds to be reinstated.
Perhaps there is other information that will change my view, if so, please share it.
Ted