anyone got any news, page-5

Phish

The "shell" refers to the corporate entity/listed vehicle

It as a vehicle with no business in it has value, as another business can be back into it.

Depending upon market cycle, a shell may be worth $1m to $1.5m, as a quick way for another entity to list on the ASX (as indeed RMA did with Flowcom : FLO)

Given that this shell has $3m left (ive done some rough numbers) in Cornell facility, it may be able to fetch a little more than straight shell price (or maybe not)

It seems that the shell is the only value the shareholders have left, as the assets of the subsidiary will go to the liquidator to pay of creditors.