The carrying value of GGX's assets plus cash backing is about $5mil. OIP has $12mil in the bank. Therefore @ 1 for 2.25 it's very easy to construct an argument that absolutely no value has been assigned to ANY of OIP's assets. Nada. Nothing. Zippo.
Does anybody have any information regarding the company that constructed the independent report and its relationship to Morton et.al? Unless I am missing something I cannot see how the company arrived at it's fair valuation estimates for OIP and GGX as the report also apparently values OIP's assets at zero.
Is this valuation a fair reflection on the assets and interests OIP currently holds?
should be an interesting egm, page-3
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