They do have an asset to dispose of, but deal already been struck with KMM to transfer the asset if/when BLZ choose. So that is taken care of.
I tend to agree WPI likely to go first - if for no other reason than Cicero been involved there for longer... just seems the right thing to do. I would say tho' that the length of time 'searching' for an acquisition is a bit of a furfy; after all that's what cicero does for all its shells and in truth the search process is a continuum. It's the same team effectively searching for all the shells and discussing candidate acquisition with the rest of the directors. Thus the search has been ongoing at some level for all of them for a long time.
As for the market cap, that's a bit of a trickster proposal when comparing WPI to BLZ since BLZ has MUCH more cash than WPI. EV is a more appropriate metric since it takes this into account. EV of WPI is ~$8.2m at 3c and EV of BLZ is just $5m at 6.5c
That's including the full 118m shares that will be eventually issued. Also important to note that WPI has further options although I'm not entirely sure if the EV above takes them into account or may be even higher for WPI? Dr Seuss - could you perhaps clarify this point?
Another important point to consider is that even though MW holds $120,000 in BLZ, his personal holdings are much more in WPI. However, I suspect he might have taken advantage of the recent 53m placement to increase his holdings?
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