Cash is King at the moment...add to Dardani's observation......that ProMetic's burn rate is $22mil a qutr (from CIBC report) and the fact that they are paying an interest rate of $10.6% on 2015 loans and 16.3% and 21.8% on 2014 loan* (plus usual finder fees I assume). So ProMeitc is buying a company with $34 mil cash at pretty much the break-up price. Note: the annual interest savings alone on the $34 mil at 10% is $3.4 million. Now I better understand why Telesta's descript no longer include "focus on building shareholder value" at the end of the line. Open for competing bids...... *See page 64 of ProMetic's 2015 Financial Statements on Sedar https://www.sedar.com/GetFile.do?lang=EN&docClass=2&issuerNo=00004497&issuerType=03&projectNo=02464781&docId=3889734