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Message: The MD@A for the period ending July 31, 2017

KK2 - It took me a while to find it but the great example of a CVR that got some air time here on this board was Tibora(TBRA) which is no longer listed. There was a good article in BUSINESS INSIDER 20 Sept 2016 on how the deal would go down and if I was more computer literate I would post the link. Here's the short version. The share price closed the day at $4.74, deal announce the next morning and trading opened at $28.35ish and finished that day around $32/$34. Total value of the deal was $49 and change. Last price I think I remember it trading at was $42ish, just over 80% of the total deal value. So market price of the shares began trading around 58% of the total deal value and traded up to around 82% of total deal value. I haven't seen any follow-up articles that said so but I made the assumption that the acquirer lapped up whatever shares they could at prices below $42 so that they would never have to pay those milestone payments out.

We can only hope for a deal similar to the TBRA deal.

Bulk buyout or CVR, I don't think we the shareholders will give up much in CVR.

dyodd

tada

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