Someone expressed an interest in the opinion of lurkers in the deal with Johnson-Lett. I'll offer one.
First, I have place a buy order based on this news. I doubt it will be filled today based on the quotes reported here, and I do not intend to chase the stock.
The option is good news, but I would say that it's significance isn't known yet. All that's actually changed hands, as I read it, is $250,000 for a 210 day look plus assured terms for which Naxos may acquire either non-exclusive or exclusive rights to the process in that period. I wouldn't infer from the announcement that Naxos knows that the process will work for them, because they've only paid $250,000 to look at it. They haven't bought it. Also, the terms for non-exclusive or exclusive rights aren't necessarily those that might be executed. Depending on how the process looks for them, and the price of Naxos shares, Naxos could try to get other terms besides the terms for which they have bought rights for $250,000. |
