dc_dude:  Bottom line at this stage, is as simple

dc_dude:  Bottom line at this stage, is as simple as this:
It's confirmed that CBYI and CamberTire have a LOI and an agreement for an exchange of equity for shares and control of the CBYI shell. And it's also clear that the deal has not been finalized, as there are conditions for the closing. According to the email, there are conditions CalBay (CBYI) has not met. We also know that CalBay has been taking some steps to meet at least some of the conditions, such as posting current financials . We don't know for sure what the other conditions are.

For longs, we are betting that CBYI, despite its history, will do what is necessary to finalize the deal , because it is certainly in their financial interest to do so. That may not have been the case in previous promised deals, as the previous deals may have involved questionable, or less "real" acquisition /merger candidates.

Those who are on the sidelines, and waiting for the deal to be fully completed, don't believe CBYI will meet the conditions for the deal to be completed.

That's why there are buyers and sellers here. SOme think the risk is worth taking, that the deal will go through, and others don't.
I am long, because it seems to me, it is in both companies interests for the deal to be completed.
I may be wrong, sure.
But those who doubt the deal will go through might be wrong, too.

So its a bit of a gamble, either way.
Good luck to all!