RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Let the negotiation begin.For what its worth, imo, there will not be any other offers or any increase in the amount offered.
If anyone was really interested in taking over Ag Junction, they would have made an offer years ago. Our patent portfolio has not increased very much over the past 5-7 years, if anyone was interested , why would they not have acted years ago? Our SP has been depressed ( like a lot of AJX shareholders ) and we could have been bought for even less than what is offered today. Word spreads quickly in the ag industry and every ag company knew that we were beating the bushes looking for a buyer. And why were we looking for a buyer? Because management knows that the company is going nowhere and has been for years. Look, a company that for all intents and purposes has never been profitable cannot continue that way forever. Management recognized that and started looking for a buyer.We don't have a monopoly on ag patents, we have ag patents but so do all the big boys, we are not indispensable.
And don't hold your breath waiting for an increased offer from Kubota. They have to answer to their shareholders and without a competing bid, why would they increase their offer? Hope I'm wrong and there is someone waiting in the wings to bid but I strongly doubt it Considering the SP over the past few years, the offer is fair and reasonable, the company is only worth what the highest bidder is willing to pay.This company had so much potential years ago but poor management doomed us to failure.One thing management has done very well is overpromise and never deliver and I mean ....never. I'm not thrilled with the offer but its better than watching the company heading into bankruptcy.
Here is why we are for sale.
In 2010, we had revenue of $56 million.
Five years later, we had revenue of $39 million
Five years after that, we had revenue of $16 million.
We would be lucky to do $11 million in 2021.
A child could see where we are heading.