Becoming a Matthew Walker Shell, page-76

cheers Doc
Was so busy digesting SRT ann and following it's open today that I hadn't even noticed this!
So the MC is around $8m at a SP of 0.07. But the cash position is $3,3 - 3,4million. That can't be ignored. By far the richest of Cicero/MW shells.
Given the extra cash it has over WPI, EV would be a fairer way to compare the two in terms of value rather than straightforward MC which ignores the extra millions already raised in BLZ.

My thoughts are that BLZ could have held off on the additional 10% raising capacity to raise later at a higher price, but I guess either 1) MW et al want to make as much as they can personally, or 2) aq might be closer than we think.
I do agree tho that WPI been looking for longer and likely to go first. Still think the value here is more compelling. With the extra cash already raised, also not likely to have to do a CR hand-in-hand with the acquisition like we are seeing today with SRT. That really puts a brake on SP rise after acquisition announcement which hopefully BLZ can now avoid.