perhaps, though COSN is still a company with no path to profitability, that is trading a little under cash on hand
their burn rate has been reduced sharply, but i don't know where the upside would be
you had TUTS, a company with an inferior balance sheet that also has shown no ability to turn a profit at any time in the near to medium term future, offering to buy COSN with 6M of their shares, but i would argue that TUTS shares are still overvalued at 3 bucks, not to mention the significantly higher price they were at when the deal was announced, so they were and would still be using an inflated currency to buy COSN's hard assets at a discount...no wonder the deal eventually failed
perhaps another suitor will come along, but the terms of any new deal are unlikely to be much better, given that COSN has ceased most operations, is basically a lame duck company now, servicing existing accounts until they go elsewhere, and has burned off 10M of its cash just since the end of Q3 '04, though again that burn rate has slowed significantly in the most recent quarter |
