CHF was never gonna give us free money. The idea i
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Posted On: 09/28/2017 1:00:11 PM
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CHF was never gonna give us free money. The idea is just to get out from under the toxics. The avant deals don't enrich Avant investors, but they set it up for success and that's all we may need to get out from the toxics. Facts remain the same. If we get out from under toxics, we have a new shot at life and major share recovery.
The deal with the toxics was a very complicated one. But one of the requirements they demanded before they would give up their liens on AMBS' assets was that certain money be raised. And they wanted to see money be raised at a level which would acknowledge the true value of the company. So they said, if you are going to raise money in AVDX, it has to be accompanied by a fairness opinion.
AVDX just raised money at a price per share of $0.0027 when it was trading around 3 cents.
The main consideration to pay off the toxics was shares of AVDX. If I am a holder of toxics shares or debt, I'm not sure I would be happy to see insiders putting a value of $0.0027 on those shares.
I think the reality is that deal with the toxics is off and they are trying to come up with plan B. But I don't see how we see a turn-around for a long time. Goix's letter sure doesn't suggest any quick turn-around.
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