K
I understand where you are going with your comments, but in my opinion, your argument that the eventual offer of .28 is not realistic unless there is a merger.
Over the last week, there has been a very high volume at the 12-14 cent range. If (when?) Cliff ups their game with a similar offer for KWG, the volume will more than triple. This will be out of fear, as much as profiteering, since no one wants to be the last company bought out.
However, if the merger goes through, Cliff will be forced to pay fair value if they want to collect 66.6% of the outstanding shares.