Depends how the new company is established. There would be a...

Depends how the new company is established.

There would be a scrip for scrip roll over depending on the share price at the time and the agreement between the boards and the share holders.

Currently just a clean one for one would give both companies a market cap of just under $300M.

There are people in this forum that will criticise the GXY board and stake their lives that one board is better than the other. The truth is that they are both very talented and competent boards in their own right. Each party offers something the other may not. It is worth reading the board members profiles.

For a merge there would need to be more to benefit both companies than just a merge. I have my suspicions it will take place just before a HKSE listing which will provide a large amount of capital and international exposure.

I have no doubt both companies either merged or not will be debt free fairly rapidly and at this time maybe two heads are better than one.