GMC as a company hasn't lost anything, apart from the incremental costs caused by the delay. The "loss in market cap" that you mentioned is not a loss for the company. It's the shareholders that BOUGHT the shares at a HIGH price because they THOUGHT the company was worth that much based on Pak's proposal. GMC can bring legal action against Pak under the term of the agreement, if any. But it has nothing to do with the loss shareholders have suffered, two completely different stories. The shareholders have no legal basis for the loss that they've suffered.
GMC Price at posting:
4.2¢ Sentiment: None Disclosure: Held