Well .. I don t really care if cnn of this revenue d as a shell...

Well .. I don t really care if cnn of this revenue d as a shell company as fa as the seafood getting in is good.
Cnn is still struggling to get enough contract to just break even . This stellar films apparently has a revenue per year in the past 3 years of 21 million dollar.
Now beeing it a private company.. the ae not milking any shareholders and not making money so something of this revenues has to end up in someone pockets. ... otherwise the company is in debt and that will become clear during the due diligence process.
Now if they are positive .. I think it is reasonable rhat we end up with a smaller percentage in the deal because we r NOT.
So my conclusion is that I prefer 42% of a company that has a POSITIVE cash flow rather than 100% of something that is still a question mark.
On top if and I say if .. cnn as the cardia bit starts to get enough contract to brake even or go positive that will be an add on that will push the revenue even higher pushing up the company value as consequence.
In those market conditions it is better an egg now than a chicken tomorrow.

Ditomagico