showdown looms, page-16

Thanks etherazer

ROC's board have effectively raised up the white flag by unanimously agreeing to hand over control of ROC to HZN...I still can't fathom why they are doing this.

They say ROC is undervalued yet they use the undervalued stock as currency to merge with HZN ( who are undervalued but less so). The final result is effectively the same as doing a placement of 900 million odd shares at 50 cents to buy HZN, and then hand control to the company to HZN. In the meantime ROC holders are diluted to buggery to buy assets that do NOT compensate for that permanent dilution. At least if they went down the placement path they would have to ask ROC holders to agree to the transaction.

cheers

Dan