if deal not happen..., page-5

As Jaraet points out a very sustainable 1c per share fully franked annual dividend should provide a solid floor for the share price if the deal falls over. It would be 6.7%ff at the current price and 10%ff at 10c. Dont think there are too many sustainable fully franked yields like that available.

The other thought is that now that RNC is over its debt problems and has refined the execution of its operations (hopefully) why cant it also use the increased scale leads to profit rising exponentially faster than revenue model itself and recommence buying rent rolls ?

If you assume free cashflow of roughly $3m then they could pay debt $1m, dividends $1m and purchase new rent rolls $1m. Given RNC already has the biggest scale then any new rent rolls should add more profitably to them than any other organisation. Increase profitably while paying dividends and reducing debts.

The deal is still the best chance to create value through the "liquidity event" as mentioned by tabularosa but the fallback position is still pretty positive.