C.McD: A little more on TSQD. . . . .
As I understand the release, all that is in play is the operating business; whatever happens there, the DRIV shares will remain. After struggling with the dividend concept some time ago, I became persuaded that a sale to a major player was far more likely because it gives Mr. Ronning more options in building DRIV's future than does a dividend to TSQD's holders, principally himself.
Ergo, my scenario would be for the Mac business to be sold for cash and then TSQD itself sold for the value of the DRIV option plus the cash, whatever that might bring. The buyer would be hand-picked by Mr. Ronning as principal shareholder of TSQD, the rest of us would dutifully sign on. The total dollars paid would be distributed pro-rata amongst the TSQD shareholders. Probably upwards of 16-17 million TSQD shares would be outstanding after the exercise of options/warrants, etc., prior to the divvy.
As to what one buyer might pay versus another, that's anyone's guess. The tax consequences surrounding the option's eventual exercise would be different for different buyers. And, the option's expiration date could be extended for some years to further attract buyers.
Take a guess as to the price, divide by 16 million, and you have an approximation of the pretax per share proceeds to holders of TSQD stock.
Cheers,
David
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