I heard a couple of things: 1)SRDO had a private placement worth about $1.5 mil and it was a snag to the merger, and 2) the CEC stock required for the deal would have diluted the float.
Why did they consider it in the first place? Hey, I think CEC has considered mining the moon with Tonka toys!
I've had some concerns about the NASDAQ announcements, but I do think the relisting process is continuing, just on a higher level, kinda like an appeal level. Apparently this company's past actions and current deals have created a complicated mess for officials to sort through. But, I do think the process is continuing. Also, a deal may be being closed on the Grundy land now. One thing I heard was $25 mil cash and then they would share the mining profits.
There are still some tredmendous potentials here, BUT, it is a risk.
greg |
