Why do a fusion (TTX and CO)Seriousely. If I were the owner of CO, why do the fusion with TTX. They loaned 4.5 millions to TTX. The CO balance sheet went from having 7 M in cash to 275k in less than 2 years.
What are they worth today ? CO?
Instead, why not convert the debenture to shares which would give them what ? more than 400M shares of TTX? they would then control TTX and have more than 50%. Why keep CO which is cashless now, what is the vlue of this? and it's complicated transaction, requiring their SH to vote for it.
Anyways, if I was the owner of CO, that's what I would do, given the fact that TTX founds something of course. So this would bring huge dilution of SP before anything.