VALUATIONI agree.. This is pretty close to the bottom of the cycle for CRYP & things started to turn around, so I find Amaya's offer very opportunistic (smart on their part)..CRY has put a halt o the cash drain, lowered expenses to meet revenues, have new games coming up,& we could get a boost from USA legislation in 2012..Amaya is only putting up $20 million of their own cash & will use CRY's cash to finance the balance...In effect they are offering $20 million for a company that is just starting to find it's legs again..Amaya's yrly cost to buy CRY at $2.50 is only $2.1 million(intersest cost of the Convertibles). A fair price under this method is somewhere between $3.00 to $4.60....split it & you get $3.80......Another way of looking at this deal is through the earnings. Earnings could be .25 cents @10 p/e = $2.50 & add back cash & you get $3.70...Either way, $2.50 is a low ball offer by about 50% & the Board has a duty to maximize shareholder value.....