any news, page-20

looks like this is what we have been waiting for since 14th july last year lol.
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Arasor International Limited To Spin Out And Finance Its Consumer Optics Chip Business
Monday, 14 Jul 2008 10:12pm EDT
Arasor International Limited announced that it has entered into a term sheet to spin-out and finance its emerging consumer optics chip business. Under the proposed terms of the transaction, the assets and liabilities of Arasor ’s consumer optics business unit (consisting of the recently acquired assets of Novalux, Inc. and certain assets of the consumer optical chip unit of Arasor ) will be spun-out into a newly created company called Necsel Inc. The employees of Arasor ’s consumer optics business unit will transition to Necsel and be based in Arasor ’s existing location in Sunnyvale, CA. USA. The term sheet also provides for a substantial amount of financing, led by Asian based institutional investors. The major terms of the financing are: Up to $35 million in fresh working capital proceeds for Necsel. The financing will be staged into two tranches. The first tranche will provide up to $15 million in proceeds for Necsel and the second tranche based upon commercial milestones capable of being achieved over the next 12 months will provide up to $20 million in proceeds for Necsel . Arasor will have the right to participate in the first tranche of financing for up to $4.2 million, which will result in Arasor owning 35% of Necsel on a fully diluted basis. Arasor will also have the right to participate in the second tranche of financing for up to $5.7 million, which will allow Arasor to maintain its ownership of Necsel on a fully diluted basis.
...........................................................I'm guessing that this is the info missing but we will have to wait until the Arasor snails give us the top secret late information to know for sure.
how hard is it to let us know what they are doing?
I wonder how long until we are trading again considering the direction the market is currently trading.