Amazing isn't it that KEY has been working on the 4c reverse...

Amazing isn't it that KEY has been working on the 4c reverse takeover for the last 12 months?!

KEY share price has successfully been pressured down from 9c to 2.5c over that period with small parcel sales.

Makes you realize why directors did not participate in the last capital raising and why they priced the options at 7.5c with a very short term expiry date to ensure they would all be dead in the water and would allow further dilution of the register.

But now, I might ask, if they have been working on this for 12 months, certain people could have had ample time to get themselves set up as shareholders in Zeta to ensure they are the prime beneficiaries or the low priced KEY assets.

If my prior experience with these WA deals that gut a register just prior to a major advance by a company would serve me, then one could argue that to get the vote over the line a supportive shareholder or two has to have been offered a sweeter, for example Zeta shares, to ensure they will be voting yes. I wonder if we will get to the the full shareholder list of Zeta, or whether that will be top secret? Will any of those sharehilders have links to T.E. or Coupolous or others?

Seems to be a weird business deal to me - to reverse debt into a company in exchange for it's assets. But that balance sheet on their website was dated 2009. Maybe they have miraculously paid off the debt with no income and are now sitting on tens of millions of dollars cash? Unlikely. But if they were bringing say $10m in hard net cash to the table the deal would not look as bad to me.

And considering COE is going to end up with such a large chunk of KEY, you would expect that it has their blessing.

But maybe this is news to COE. As they are making a decision on whether to proceed with the JV later this month, it might also be a desperate attempt to throw in a sweetener to COE (KEY's assets) to get them to proceed on the JV because the Romanian assets are actually a little marginal.

Clutching at straws here. Trying to figure out the real reason for the insane valuation difference between KEY and Zeta's assets. Thoughts? Roznov?