Well, if Hepa wants control, and RVX can't come up with the $6mm, and Hepa converts to get to 47% ... how long would it take them to get to majority on the open market from among the frustrated angry 30% sitting in the mushroom bog?
If they needed more, after getting the CHEAP conversion gain, throwing bids out for $1-5 dollars (if/as needed) would surely reel in the additional 4% needed?
All of this makes me wonder if Don wouldn't do whatever it takes and possible to raise $6m from among himself/friends/insiders to stave off this potential situation? ... coming up with $6m, however painful, to save control over a company he still thinks is actually worth $4-8b potentially (if that's still the case)?
But, would we (the RVX non-insider 30%), be better off, or not?? ... what a mess. Maybe Hepa would actually do something with the science?
This may, and perhaps likely, has all been decided already anyway, since the board seat opened up with ZERO quality information provided, and complete radio silence.