Completely agree. Which I did.
Since shells are failed companies which are now essentially worthless except for their structure and presence as a listed entity which has inherent value, as well as potential for injection of new projects; they have caused a lot off financial loss for old holders. The potential problem for these old holders, is that their previous loss and pain blinds them to the new reality of the company. That it is essentially a brand new game and will have new life breathed into it with the acquisition of a new business, creating value and SP appreciation. Its the worst time for stale holders to sell, but they are blind to it, and seeing a little bit of SP appreciation from its lows (and having holdings consolidated to almost nothing) they sell. Had they held they would generally make much much more.
Anyway, there is a new reality in this company. Some patience, and we should be rewarded with a juicy acquisition thanks to Cygnet.
RMR Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
