If an offer doesnt eventuate and it drops 20-30% which could...

If an offer doesnt eventuate and it drops 20-30% which could easily happen the management of IHA would have soe questions to answer by their board. What was the hurry to acquire 19.9% of ISU if they had no intention of any further action.

Also you got to look at the cashflow figures too - this has been a strong cash generating business historically and would continue to be so. Their IP and algorithms worth lot of money.

and ask the question why is it hovering at 80c ? Plain as day it is controlled to be at these levels by some party.

Anyways I do agree anything could happen and it could go low but as I said before chances are lesser than getting an offer.