Some $50,000 separate EUO from a 3 year and nearly all time low.
Those retail shareholders left are now hanging their hats on a buyout / whatever scenario as very little else is left.
I just don’t see how this can work with SICPA being the only shareholder of consequence.
SICP is no stranger to “hard ball”. All they have to do is launch some valid / invalid lawsuit claiming that GFI was sold to them under “false pretenses” and EUO’s cash stash will get eaten up in no time at all. Not saying they will do this but if I was them, I surely would.
A few million in legal fees is nothing to them and someone within SICPA may just need to save his own bacon. Even if they get an interim order to stop the minimum royalty payments, it will be enough to cover legal fees and simply wait for EUO to run out of cash.
| V:EUO Depth by Price @15:51:33 |
| Bid | | Ask |
| Orders | Size | Price | | Price | Size | Orders |
| 4 | 232,000 | 0.065 | | 0.075 | 24,000 | 1 |
| 6 | 348,000 | 0.06 | | 0.08 | 95,000 | 4 |
| 3 | 30,000 | 0.055 | | 0.085 | 308,000 | 5 |
| 2 | 138,000 | 0.05 | | 0.09 | 183,000 | 6 |
| 1 | 10,000 | 0.045 | | 0.095 | 73,000 | 4 |