Well let's see if DCI "went first" that, by definition, would have delisted ITEL. How would THAT have looked?
Maybe this was sort of like letting a top executive "resign" rather than get fired, I'd say is a possibility.
As it was you are not quite correct. a "pink sheet" stock didn't terminate the deal. ITEL was a NASDAQ listed security until the deal was broken.
ITEL by their own actions, IMO, broker the deal by allowing their cash in bank balance to fall precipitiously from the original $2,000,000 level. IMO, the WHOLE DEAL, in effect, was ITEL was buying in to DCI: we give them stock and they "pay us" $2,000,000. Yes it was structured as a merger, but in MY MIND this was a $2,000,000 cash infusion deal.
I don't care to banter back and forth on this. I just hope ITEL does very well with the new alliance, and that ITEL begins trading again. |
