This new bid sure made them finally talk about what was really going on. It also made them take their gloves off regarding the 1 million break-up fee.
We also have another interesting development tonignt. MM Asset now holds just under 10% of the company and since their business is event driven investing and arbitrage, it is very likely that they acquired most of their shares well above a dollar. They are probably not too happy to have seen the 1.37 bid fall through.
That is another positive on our side since they will push hard on Hyduke to find a suitor at a bid at least close to 1.37. Hyduke is talking nice for investors in their latest press release, but I like to have a big brother in place to keep the pressure on.