JordanRiversSeems you have a personal agenda with the company...

JordanRivers

Seems you have a personal agenda with the company and haven't considered simple economics or the current market environment

I can't understand why you would be encouraging shareholders to skuttle any deal unless they receive 16% of the new entity

Most ASX shells go for between $300-500k - depending upon the registry, spread and other issues etc

These guys are paying $450k for 92% (plus likely much more their end with fees, DD and compliance etc) - so they are valuing ARR at nearly $500k

$500k valuation for something that hasn't traded in 4 years, no assets, was rescued from liquidation and will still need spread, Ch 1 & 2 and other work to bring to market once again - maybe take another $100-200k their end

Would you pay $500k for ARR today as an unlisted vehicle with no assets ?

Don't be so sure of your notion "something to bargain with" - Have a look how many companies were suspended last quarter alone for not being able to meet listing requirements

If your only option was to go into liquidation or accept 8% of the incoming shell, why wouldn't you at least entertain what the incoming assets and party were bringing ?

If it relists with a cap of $5M, current holders are getting around $400k of scrip at 8% which is in line with shell value of $300-500k - You calling for 16% is demanding $800k of scrip for something that has been delisted for 4 years and holds no assets - sorry to say but you can get control of trading ASX companies for that much

Just my 2 cents as I've traded shells before (FRE, MST, EHG)