RE:RE:Grow up and move on please... I'm with KayakerBC, totally, on the CVR question. It's a strategy that completely favours the acquiring company.
If you look up how the acquiring companies value their sides of CVRs, you will find all sorts of either liability or equity valuations that are heavily discounted and otherwise finagled to present to their own shareholders how little they'll owe in the future to the bought-out shareholders.
In other words, the potential bought-out shareholders, like Bioasis shareholders, might want to consider how little the buyers think they'll end up paying to you, the sellers. There's a conflict there. The buyers want to show how much you're going to get and their own shareholders how little you're going to get.
If you're 65 or 70 years old, I would think it unlikely that you would get useful money during your useful remaining life with a CVR, especially with the long timelines of pharmaceutical R&D, clinical trials, approval processes and the realization of real income.
But if you want to strictly interpret the recent financial reports (FRs) and corporate presentation (CP), Bioasis is unlikely to be sold. All of the talk in these documents is about an imminent move onto NASDAQ. Bought-out shareholders do not have a remaining stake in anything on NASDAQ because they don't own their shares after they're bought out. The FRs and CP really do make definitive statements about a move to NASDAQ, more so than about selling the company.
But then, financial reports and corporate presentations all have a lot of words contained within them that tell you, basically, to ignore everything else in them. Safe harbour, for whom? Not the shareholders.
Like I say, do not give management and BoD a green light to do whatever they want. The company has not disclosed anywhere near enough information for you to make an informed decision about the competence, values, motives and objectives of the management and BoD of Bioasis.
jd